Senate
File
2056
-
Introduced
SENATE
FILE
2056
BY
FEENSTRA
A
BILL
FOR
An
Act
relating
to
distributions
from
a
cemetery
care
fund.
1
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
2
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Section
1.
Section
523I.810,
subsection
9,
Code
2016,
is
1
amended
to
read
as
follows:
2
9.
A
Not
more
than
once
every
five
years,
a
cemetery
may,
3
by
resolution
adopted
by
a
vote
of
at
least
two-thirds
of
4
the
members
of
its
board
at
any
authorized
meeting
of
the
5
board,
authorize
the
withdrawal
and
use
of
not
more
than
6
twenty
percent
of
the
principal
of
the
care
fund
to
acquire
7
additional
land
for
cemetery
purposes,
to
repair
a
mausoleum
8
or
other
building
or
structure
intended
for
cemetery
purposes,
9
to
build,
improve,
or
repair
boundaries,
roads
and
walkways
10
in
the
cemetery,
to
construct
a
columbarium,
mausoleum,
or
11
similar
structure
to
create
additional
interment
spaces,
to
12
purchase
equipment
for
tree,
shrub,
and
lawn
care,
to
purchase
13
backhoes
or
similar
equipment
used
to
open
and
close
interment
14
spaces,
or
to
purchase
recordkeeping
software
used
to
maintain
15
ownership
records
or
interment
records.
The
resolution
shall
16
establish
a
reasonable
repayment
schedule,
not
to
exceed
five
17
years.
The
cemetery
is
not
required
to
repay
funds
withdrawn
18
and
used
pursuant
to
the
resolution.
However,
the
care
fund
19
shall
not
be
diminished
below
an
amount
equal
to
the
greater
20
of
twenty-five
thousand
dollars
or
five
thousand
dollars
per
21
acre
of
land
in
the
cemetery.
The
resolution
,
and
if
the
22
deposit
of
care
fund
income
over
five
years
is
unlikely
to
fund
23
replenishment
of
the
principal
of
the
care
fund,
either
a
bond
24
or
proof
of
insurance
to
guarantee
replenishment
of
the
care
25
fund,
shall
be
filed
with
the
commissioner
thirty
days
prior
to
26
the
withdrawal
of
funds.
27
EXPLANATION
28
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
29
the
explanation’s
substance
by
the
members
of
the
general
assembly.
30
This
bill
provides
that
not
more
than
once
every
five
31
years,
a
cemetery
board
may
adopt
a
resolution
authorizing
the
32
withdrawal
and
use
of
not
more
than
20
percent
of
the
principal
33
of
the
cemetery’s
care
fund
for
the
purposes
specified
and
the
34
amount
withdrawn
is
not
required
to
be
repaid
to
the
care
fund.
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Currently,
a
cemetery
board
may
adopt
a
resolution
to
1
authorize
such
a
withdrawal
of
funds
at
any
time
but
the
2
resolution
must
include
a
reasonable
repayment
schedule
that
3
does
not
exceed
five
years
and
if
the
fund
is
not
likely
to
be
4
replenished
within
five
years,
the
resolution
must
include
a
5
bond
or
proof
of
insurance
to
guarantee
replenishment.
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