HF 2169 (LSB 5761YH (3) 91)

HOUSE FILE 2169

BY  BAGNIEWSKI

A BILL FOR

An Act requiring the Iowa finance authority to conduct a review of the firsthome program’s household income limit.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  IOWA FINANCE AUTHORITY —— INCOME THRESHOLDS FOR THE FIRSTHOME PROGRAM.
   1.  The Iowa finance authority shall conduct a review of the firsthome program to analyze whether the household income limit that has been established to determine eligibility for the program provides adequate assistance to individuals in the state to purchase their first home, and an adequate incentive to out-of-state individuals to move to the state, and the impact, if any, that increasing the household income limit would have on participation in the program.
   2.  The Iowa finance authority shall submit a report to the general assembly on or before January 11, 2027, that summarizes the authority’s findings and provides the authority’s recommendation for the household income that should be established to determine eligibility for the firsthome program.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill requires the Iowa finance authority (authority) to conduct a review of the firsthome program to analyze whether the household income limit to determine eligibility for the program provides adequate assistance to individuals in the state to purchase their first home, and an adequate incentive to out-of-state individuals to move to the state, and the impact that increasing the household income limit would have on the program.
   The authority shall submit a report to the general assembly on or before January 11, 2027, that summarizes the authority’s findings and provides the authority’s recommendations.