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Senate File 344 - IntroducedA Bill ForAn Act 1relating to repayment of governmental subdivision loans
2for disaster aid.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 29C.20, subsection 1, paragraph a,
2subparagraph (6), subparagraph division (b), Code 2023, is
3amended to read as follows:
4(b) Upon application by a governmental subdivision in
5such an area, accompanied by a showing of obligations and
6expenditures necessitated by an actual or potential disaster
7in a form and with further information the executive council
8requires, the aid may be made in the discretion of the
9executive council and, if made, shall be in the nature of a
10loan up to a limit of seventy-five percent of the showing of
11obligations and expenditures. The loan, without interest,
12shall be repaid by the maximum annual emergency levy authorized
13by section 24.6, or by the appropriate levy authorized for a
14governmental subdivision not covered by section 24.6. However,
15the executive council, for good cause shown, may forgive
16repayment of a loan in an amount not to exceed one million
17dollars. The aggregate total of loans shall not exceed one
18million dollars during a fiscal year. A loan shall not be for
19an obligation or expenditure occurring more than two years
20previous to the application.
21EXPLANATION
22The inclusion of this explanation does not constitute agreement with
23the explanation’s substance by the members of the general assembly.
24This bill concerns loans to a governmental subdivision
25for disaster aid from the contingent fund under Code section
2629C.20. The bill authorizes the executive council to forgive
27the repayment of a loan in an amount up to $1 million for good
28cause shown.
-1-ec/rn
2for disaster aid.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 29C.20, subsection 1, paragraph a,
2subparagraph (6), subparagraph division (b), Code 2023, is
3amended to read as follows:
4(b) Upon application by a governmental subdivision in
5such an area, accompanied by a showing of obligations and
6expenditures necessitated by an actual or potential disaster
7in a form and with further information the executive council
8requires, the aid may be made in the discretion of the
9executive council and, if made, shall be in the nature of a
10loan up to a limit of seventy-five percent of the showing of
11obligations and expenditures. The loan, without interest,
12shall be repaid by the maximum annual emergency levy authorized
13by section 24.6, or by the appropriate levy authorized for a
14governmental subdivision not covered by section 24.6. However,
15the executive council, for good cause shown, may forgive
16repayment of a loan in an amount not to exceed one million
17dollars. The aggregate total of loans shall not exceed one
18million dollars during a fiscal year. A loan shall not be for
19an obligation or expenditure occurring more than two years
20previous to the application.
21EXPLANATION
22The inclusion of this explanation does not constitute agreement with
23the explanation’s substance by the members of the general assembly.
24This bill concerns loans to a governmental subdivision
25for disaster aid from the contingent fund under Code section
2629C.20. The bill authorizes the executive council to forgive
27the repayment of a loan in an amount up to $1 million for good
28cause shown.
-1-ec/rn