Senate
File
502
-
Introduced
SENATE
FILE
502
BY
CHELGREN
A
BILL
FOR
An
Act
prohibiting
loans,
forgivable
loans,
and
any
other
type
1
of
extension
of
credit
from
a
state
or
local
governmental
2
entity.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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502
Section
1.
NEW
SECTION
.
23.2
Loans
prohibited.
1
A
state
or
local
governmental
entity
shall
not
provide
2
loans,
forgivable
loans,
or
any
other
type
of
extension
of
3
credit
to
a
person.
4
Sec.
2.
CONFORMING
AMENDMENTS.
By
November
18,
2011,
the
5
department
of
management
shall
submit
a
report
to
the
general
6
assembly
identifying
all
changes
in
the
Code
that
are
necessary
7
due
to
the
enactment
of
this
Act.
The
report
shall
include
the
8
necessary
changes
in
the
form
of
a
proposed
legislative
bill.
9
EXPLANATION
10
This
bill
relates
to
loans,
forgivable
loans,
and
any
other
11
type
of
extension
of
credit
from
a
state
or
local
governmental
12
entity.
13
The
bill
prohibits
a
state
or
local
governmental
entity
14
from
providing
loans,
forgivable
loans,
or
any
other
type
of
15
extension
of
credit
to
a
person.
16
By
November
18,
2011,
the
department
of
management
is
17
required
to
submit
a
report
to
the
general
assembly
identifying
18
all
changes
in
the
Code
that
are
necessary
due
to
the
enactment
19
of
this
bill.
20
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