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