House File 2210 - Introduced HOUSE FILE 2210 BY BEARINGER A BILL FOR An Act concerning authorized lenders for the home ownership 1 assistance program for military members and including 2 effective date and retroactive applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5506HH (3) 86 ec/sc

H.F. 2210 Section 1. Section 16.54, subsection 4, paragraph b, 1 subparagraph (2), subparagraph division (a), Code 2016, is 2 amended to read as follows: 3 (a) The financing is offered by a lender that participates 4 in one of the authority’s first mortgage financing programs for 5 homebuyers , or by a lender approved pursuant to subsection 5 , 6 or, for financed home purchases that close on or after January 7 1, 2015, by a bank . 8 Sec. 2. EFFECTIVE UPON ENACTMENT. This Act, being deemed of 9 immediate importance, takes effect upon enactment. 10 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 11 retroactively to January 1, 2015, for financed home purchases 12 that close on or after that date. 13 EXPLANATION 14 The inclusion of this explanation does not constitute agreement with 15 the explanation’s substance by the members of the general assembly. 16 This bill amends the home ownership assistance program for 17 military members to allow any bank to finance home purchases 18 under the program if the purchase closing is on or after 19 January 1, 2015. The bill takes effect upon enactment and is 20 retroactively applicable to January 1, 2015, for financed home 21 purchases that close on or after that date. 22 -1- LSB 5506HH (3) 86 ec/sc 1/ 1