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Senate Study Bill 1044 - IntroducedA Bill ForAn Act 1relating to the home ownership assistance program, and
2making an appropriation.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 35A.13, subsection 4, paragraph a, Code
22021, is amended to read as follows:
3a. The minimum balance of the trust fund required prior
4to expenditure of moneys from the trust fund is five million
5dollars. Once the minimum balance is reached, the interest
6and earnings on the fund and the first five hundred thousand
7dollars transferred each fiscal year pursuant to section 99G.39
8from the lottery fund to the trust fund are appropriated to the
9commission to be used to achieve the purposes of subsection 6
10of this section. Moneys appropriated to the commission that
11remain unobligated or unexpended at the end of each fiscal year
12shall not revert to the trust fund but shall be appropriated
13to the Iowa finance authority to be used to provide grants
14to veterans to participate in the home ownership assistance
15program established under section 16.54 until the close of
16the succeeding fiscal year. It is the intent of the general
17assembly that the balance in the trust fund reach fifty million
18dollars.
19EXPLANATION
20The inclusion of this explanation does not constitute agreement with
21the explanation’s substance by the members of the general assembly.
22This bill provides that moneys appropriated to the veterans
23affairs commission from the veterans trust fund in a fiscal
24year that remain unobligated or unexpended at the close of the
25fiscal year shall not revert to the trust fund but shall be
26appropriated to the Iowa finance authority to provide grants
27to veterans to participate in the home ownership assistance
28program established under Code section 16.54.
-1-dg/rn
2making an appropriation.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 35A.13, subsection 4, paragraph a, Code
22021, is amended to read as follows:
3a. The minimum balance of the trust fund required prior
4to expenditure of moneys from the trust fund is five million
5dollars. Once the minimum balance is reached, the interest
6and earnings on the fund and the first five hundred thousand
7dollars transferred each fiscal year pursuant to section 99G.39
8from the lottery fund to the trust fund are appropriated to the
9commission to be used to achieve the purposes of subsection 6
10of this section. Moneys appropriated to the commission that
11remain unobligated or unexpended at the end of each fiscal year
12shall not revert to the trust fund but shall be appropriated
13to the Iowa finance authority to be used to provide grants
14to veterans to participate in the home ownership assistance
15program established under section 16.54 until the close of
16the succeeding fiscal year. It is the intent of the general
17assembly that the balance in the trust fund reach fifty million
18dollars.
19EXPLANATION
20The inclusion of this explanation does not constitute agreement with
21the explanation’s substance by the members of the general assembly.
22This bill provides that moneys appropriated to the veterans
23affairs commission from the veterans trust fund in a fiscal
24year that remain unobligated or unexpended at the close of the
25fiscal year shall not revert to the trust fund but shall be
26appropriated to the Iowa finance authority to provide grants
27to veterans to participate in the home ownership assistance
28program established under Code section 16.54.
-1-dg/rn