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ARC #4511C
Rule-Making Document (ARC)
The Economic Development Authority hereby amends Chapter 65, “Brownfield and Grayfield Redevelopment,” Iowa Administrative Code. This rule making is adopted under the authority provided in Iowa Code section 15.106A. This rule making implements, in...
Section 12.31 Short title.
2020 Code of Iowa
This section and sections 12.32 through 12.43 shall be known as the “Linked Investments for Tomorrow Act” .
Tagged topics: linked investments, loans
Section 12.32 Definitions.
2020 Code of Iowa
As used in section 12.31, this section, and sections 12.34 through 12.43, unless the context otherwise requires: “Eligible borrower” means any person who is qualified to participate in one of the programs in this section and sections 12.34 t...
Tagged topics: linked investments, loans
Section 12.34 Linked investments — limitations — rules — maturity and renewal of certificates.
2020 Code of Iowa
The treasurer of state may invest up to the lesser of one hundred eight million dollars or twenty-five percent of the balance of the state pooled money fund in certificates of deposit in eligible lending institutions as provided in section 12.32, t...
Tagged topics: linked investments, loans
Section 12.35 Agreement — loan applications.
2020 Code of Iowa
An eligible lending institution that desires to receive a linked investment shall enter into an agreement with the treasurer of state, which shall include requirements necessary for the eligible lending institution to comply with sections 12.32 and ...
Tagged topics: linked investments, loans
Section 12.36 Actions by treasurer.
2020 Code of Iowa
The treasurer of state shall accept or reject a linked investment loan package or any portion of the package based on the type or terms of the loan involved, the availability of state funds, or the compliance of the eligible borrower or eligible lendi...
Tagged topics: linked investments, loans
Section 12.37 Loans.
2020 Code of Iowa
Upon the placement of a linked investment with an eligible lending institution, the institution is required to lend the funds to the eligible borrower listed in the linked investment loan package and in accordance with the investment agreement. The lo...
Tagged topics: linked investments, loans
Section 12.38 Reports.
2020 Code of Iowa
By February 1 of each year, the treasurer of state shall report on the linked investments for tomorrow programs for the preceding calendar year to the governor, the economic development authority, the speaker of the house of representatives, and the p...
Tagged topics: linked investments, loans
Section 12.39 Liability.
2020 Code of Iowa
The state and the treasurer of state are not liable to an eligible lending institution in any manner for payment of the principal or interest on the loan to an eligible borrower. Any delay in payments or default on the part of an eligible borrower doe...
Tagged topics: linked investments, loans
Section 12.43 Small business linked investments program created — definitions.
2020 Code of Iowa
The treasurer of state shall adopt rules to implement a small business linked investments program to increase the availability of lower cost funds to inject needed capital into small businesses owned and operated in this state by residents of this sta...