Senate File 31SENATE FILE BY WARNSTADT Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act making a supplemental appropriation for the home ownership 2 assistance program for Iowa residents who are eligible members 3 of the armed forces of the United States and providing an 4 effective date. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 1694SS 82 7 jp/gg/14 PAG LIN 1 1 Section 1. 2006 Iowa Acts, chapter 1184, section 5, is 1 2 amended by adding the following new subsection: 1 3 NEW SUBSECTION. 3. HOME OWNERSHIP ASSISTANCE PROGRAM 1 4 For transfer to the Iowa finance authority to be used for 1 5 continuation of the home ownership assistance program for 1 6 persons who are or were eligible members of the armed forces 1 7 of the United States, implemented pursuant to 2003 Iowa Acts, 1 8 chapter 179, section 21, subsection 5, as amended by 2005 Iowa 1 9 Acts, chapter 161, section 1, and chapter 115, section 37, and 1 10 continued in accordance with 2006 Iowa Acts, chapter 1167, 1 11 sections 3 and 4, and this subsection: 1 12 .................................................. $ 1,000,000 1 13 a. The Iowa finance authority shall give priority to 1 14 processing the applications for assistance received after the 1 15 original allotment of funding for the program was exhausted. 1 16 b. The home ownership assistance program shall continue to 1 17 be directed to persons who are eligible members of the armed 1 18 forces of the United States. In the event an eligible member 1 19 is deceased, the surviving spouse of the eligible member shall 1 20 be eligible for a loan under the program, subject to the 1 21 surviving spouse meeting the program's eligibility 1 22 requirements other than the military service requirement. For 1 23 the purposes of this subsection, "eligible member of the armed 1 24 forces of the United States" means a resident of this state 1 25 who is or was a member of the national guard, reserve, or 1 26 regular component of the armed forces of the United States who 1 27 has served at least ninety days of active duty service during 1 28 the period beginning September 11, 2001, and ending June 30, 1 29 2008. 1 30 c. Notwithstanding section 8.33, moneys appropriated in 1 31 this subsection that remain unencumbered or unobligated at the 1 32 close of the fiscal year shall not revert but shall remain 1 33 available for expenditure for the purposes designated until 1 34 the close of the fiscal year beginning July 1, 2008. 1 35 Sec. 2. EFFECTIVE DATE. This Act, being deemed of 2 1 immediate importance, takes effect upon enactment. 2 2 EXPLANATION 2 3 This bill makes a supplemental appropriation of $1 million 2 4 to the department of veterans affairs for fiscal year 2 5 2006=2007. 2 6 The appropriation is required to be transferred to the Iowa 2 7 finance authority to be used for continuation of the home 2 8 ownership assistance program for Iowa residents who are or 2 9 were active members of the armed forces of the United States. 2 10 Under 2006 Iowa Acts, chapter 1167, section 4, the eligibility 2 11 requirements for the program provided that an Iowa resident 2 12 must have had at least 90 days of active duty service during 2 13 the period beginning September 11, 2001, and ending June 30, 2 14 2007. The bill extends this period by one year to June 30, 2 15 2008. A nonreversion clause provides that any unused funds 2 16 from the appropriation do not revert until the close of fiscal 2 17 year 2008=2009. 2 18 The bill takes effect upon enactment. 2 19 LSB 1694SS 82 2 20 jp:mg/gg/14.1