House File 69 - Introduced



                                       HOUSE FILE       
                                       BY  WHITAKER


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act creating an unsewered community revolving loan program and
  2    fund.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 1783YH 83
  5 tm/rj/5

PAG LIN



  1  1    Section 1.  NEW SECTION.  16.191  UNSEWERED COMMUNITY
  1  2 REVOLVING LOAN PROGRAM == FUND.
  1  3    1.  The authority shall establish and administer an
  1  4 unsewered community revolving loan program.  Assistance under
  1  5 the program shall consist of no=interest loans with a term not
  1  6 to exceed forty years and shall be used for purposes of
  1  7 installing sewage disposal systems in a city without a sewage
  1  8 disposal system or in an area where a cluster of homes is
  1  9 located.
  1 10    2.  An unsewered community may apply for assistance under
  1 11 the program.  In awarding assistance, the authority shall
  1 12 encourage the use of innovative, cost=effective sewage
  1 13 disposal systems and technologies.  The authority shall adopt
  1 14 rules that prioritize applications for disadvantaged unsewered
  1 15 communities.
  1 16    3.  For purposes of this section, "an area where a cluster
  1 17 of homes is located" means an area located in the
  1 18 unincorporated area of a county which includes six or more
  1 19 homes but less than five hundred homes.
  1 20    4.  An unsewered community revolving loan fund is created
  1 21 in the state treasury under the control of the authority and
  1 22 consisting of moneys appropriated by the general assembly and
  1 23 any other moneys available to and obtained or accepted by the
  1 24 authority for placement in the fund.
  1 25    5.  Repayments of moneys loaned and recaptures of loans
  1 26 shall be deposited in the fund.
  1 27    6.  Moneys in the fund shall be used to provide assistance
  1 28 under the unsewered community revolving loan program
  1 29 established in this section.
  1 30    7.  Moneys in the fund are not subject to section 8.33.
  1 31 Notwithstanding section 12C.7, interest or earnings on moneys
  1 32 in the fund shall be credited to the fund.
  1 33                           EXPLANATION
  1 34    This bill creates an unsewered community revolving loan
  1 35 program and fund.
  2  1    The bill requires the Iowa finance authority to establish
  2  2 and administer an unsewered community revolving loan program.
  2  3 The bill provides that assistance under the program shall
  2  4 consist of no=interest loans with a term not to exceed 40
  2  5 years and shall be used for purposes of installing sewage
  2  6 disposal systems in a city without a sewage disposal system or
  2  7 in an area where a cluster of homes is located.  The bill
  2  8 provides that an unsewered community may apply for assistance
  2  9 under the program.  The bill provides that the authority shall
  2 10 encourage the use of innovative, cost=effective sewage
  2 11 disposal systems and technologies.
  2 12    The bill creates an unsewered community revolving loan fund
  2 13 in the state treasury under the control of the authority and
  2 14 consisting of moneys appropriated by the general assembly and
  2 15 any other moneys available to and obtained or accepted by the
  2 16 authority for placement in the fund.  The bill provides that
  2 17 moneys in the fund shall be used to provide assistance under
  2 18 the unsewered community revolving loan program.
  2 19 LSB 1783YH 83
  2 20 tm/rj/5