HF 693 (LSB 2109YH (9) 90)

HOUSE FILE 693

BY  KONFRST, FORBES, BAGNIEWSKI, CAHILL, CROKEN, WILSON, COOLING, BAETH, TUREK, LEVIN, STAED, SCHEETZ, KURTH, AMOS JR., NIELSEN, BUCK, WESSEL-KROESCHELL, STECKMAN, MATSON, WILBURN, JAMES, GAINES, JUDGE, MADISON, JACOBY, EHLERT, KRESSIG, B. MEYER, SRINIVAS, BROWN-POWERS, ISENHART, OLSON, and SCHOLTEN

A BILL FOR

An Act establishing a neighborhood housing renovation grant program and fund, and making appropriations.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  NEW SECTION.  16.230  Neighborhood housing renovation grant program —— fund.
   1.  a.  A neighborhood housing renovation grant fund is created in the state treasury under the control of the authority. The fund shall be used to award grants under the neighborhood housing renovation grant program.
   b.  There is appropriated to the authority for deposit in the neighborhood housing renovation grant fund for the fiscal year beginning July 1, 2023, from the moneys available to the state pursuant to the federal American Rescue Plan Act of 2021, Pub. L. No. 117-2, the sum of fifty million dollars.
   c.  Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the neighborhood housing renovation grant fund shall accrue to the authority and shall be used for purposes of this section. Notwithstanding section 8.33, moneys in the neighborhood housing renovation grant fund at the end of each fiscal year shall not revert to any other fund but shall remain in the neighborhood housing renovation grant fund for expenditure for subsequent fiscal years. All repayments or recaptures of grants awarded under this section shall accrue to the authority and shall be used for purposes of this section.
   d.  The authority shall not use more than three percent of the moneys in the neighborhood housing renovation grant fund at the beginning of the fiscal year for purposes of administrative costs, marketing, and other program support.
   2.  a.  The authority shall establish and administer a neighborhood housing renovation grant program for purposes of awarding grants to eligible homeowners for qualifying exterior home improvements, repairs, or renovations.
   b.  To qualify for the neighborhood housing renovation grant program, a homeowner’s household income shall not exceed one hundred nine thousand dollars.
   c.  The property at which the qualifying exterior home improvements, repairs, or renovations will occur must be occupied by the homeowner.
   d.  A grant awarded under the neighborhood housing renovation grant program shall not exceed twenty thousand dollars.
   e.  Exterior improvements, repairs, and renovations that qualify for the neighborhood housing renovation grant program shall include all of the following:
   (1)  Roof repair or replacement.
   (2)  Foundation repair.
   (3)  Exterior siding repair or replacement.
   (4)  Exterior paint.
   (5)  Window and door repair or replacement.
   (6)  Garage repair or replacement.
   (7)  Exterior energy efficiency-related repairs or upgrades.
   (8)  Exterior wheelchair or mobility assistive device accessibility.
   (9)  Sidewalk and driveway repair or replacement.
   3.  The authority shall adopt rules pursuant to chapter 17A to administer this section.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill establishes a neighborhood housing renovation grant program (program) and fund (neighborhood fund) to be administered by the Iowa finance authority (authority) for purposes of awarding grants to eligible homeowners for qualifying exterior home improvements, repairs, or renovations (exterior work).
   There is appropriated to the authority for deposit in the neighborhood fund for the fiscal year beginning July 1, 2023, from the moneys available to the state pursuant to the federal American Rescue Plan Act of 2021, the sum of $50 million. Notwithstanding Code section 12C.7(2), interest or earnings on moneys in the neighborhood fund shall accrue to the authority and shall be used for purposes of the program. Notwithstanding Code section 8.33, moneys in the neighborhood fund at the end of each fiscal year shall not revert to any other fund but shall remain in the neighborhood fund for expenditure for subsequent fiscal years. All repayments or recaptures of the grants awarded under the program shall accrue to the authority and shall be used for purposes of the program.
   The authority shall not use more than 3 percent of the moneys in the neighborhood fund at the beginning of the fiscal year for purposes of administrative costs, marketing, and other program support.
   To qualify for the program, a homeowner’s household income shall not exceed $109,000 and the homeowner must occupy the property at which the exterior work will occur. A grant awarded under the program shall not exceed $20,000. Exterior work that qualifies for the program is detailed in the bill. The authority shall adopt rules to administer the bill.