Read the full stored bill text
Senate
File
357
-
Introduced
SENATE
FILE
357
BY
PETERSEN
,
WINCKLER
,
DONAHUE
,
STAED
,
BLAKE
,
TRONE
GARRIOTT
,
BENNETT
,
ZIMMER
,
DOTZLER
,
TOWNSEND
,
and
CELSI
A
BILL
FOR
An
Act
establishing
a
neighborhood
housing
revitalization
1
assistance
program
within
the
Iowa
finance
authority.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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357
Section
1.
NEW
SECTION
.
16.222
Neighborhood
housing
1
revitalization
assistance
program
——
fund.
2
1.
The
authority
shall
establish
a
neighborhood
housing
3
revitalization
assistance
program
to
provide
and
foster
4
lending
programs
and
other
services
to
facilitate
targeted
5
neighborhood
revitalization
in
designated
urban
and
rural
areas
6
in
this
state.
The
program
shall
encourage
the
development
of
7
public-private
partnerships
to
provide
loans
and
grants
for
the
8
purpose
of
revitalizing
housing
in
the
designated
areas.
9
2.
The
neighborhood
housing
revitalization
assistance
10
program
shall
include
a
forgivable
loan
program
for
11
qualifying
home
improvements,
repairs,
and
renovations
for
12
an
owner-occupied
home.
The
authority
shall
establish,
by
13
rule,
criteria
for
the
forgivable
loan
program,
subject
to
14
available
funding,
to
include
maximum
loan
amounts,
allowable
15
improvements,
repairs
and
renovations
for
utilizing
the
16
program,
and
the
method
for
determining,
if
applicable,
that
17
portion
of
a
loan
to
be
forgiven
based
on
household
income.
18
Eligible
improvements,
repairs,
and
renovations
for
the
19
forgivable
loan
program
include
but
are
not
limited
to
updating
20
aged
or
unsafe
heating
or
air
conditioning
systems;
upgrading
21
electrical
and
plumbing
systems;
roof
repair
or
replacement;
22
foundation
repair;
exterior
siding
repair
or
replacement;
23
exterior
paint;
window
and
door
repair
or
replacement;
garage
24
construction,
repair,
or
replacement;
energy
efficiency-related
25
repairs
or
upgrades;
architectural
barrier
removal
and
26
wheelchair
or
mobility
assistive
device
accessibility;
sidewalk
27
and
driveway
repair
or
replacement;
and
interior
repairs
and
28
updates.
Landscape
improvements
or
repairs
shall
not
be
29
eligible
for
the
forgivable
loan
program.
30
3.
a.
A
neighborhood
housing
revitalization
assistance
31
program
fund
is
created
in
the
state
treasury
under
the
control
32
of
the
authority.
Moneys
in
the
fund
shall
be
appropriated
33
to
the
authority
for
purposes
of
the
neighborhood
housing
34
revitalization
assistance
program
as
established
in
this
35
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357
section.
1
b.
The
fund
shall
consist
of
any
unobligated
funds
2
transferred
to
the
fund
from
a
fund
described
in
section
3
15.106A,
subsection
1,
paragraph
“o”
,
and
any
other
gift,
4
donation,
federal
or
other
grant,
or
appropriation
from
any
5
source
intended
to
be
used
for
the
purposes
of
the
fund.
6
c.
Notwithstanding
section
8.33,
all
moneys
in
the
fund
7
which
remain
unexpended
or
unobligated
at
the
close
of
the
8
fiscal
year
shall
not
revert
to
the
general
fund
of
the
state
9
but
shall
remain
available
for
expenditure
for
subsequent
10
fiscal
years.
11
EXPLANATION
12
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
13
the
explanation’s
substance
by
the
members
of
the
general
assembly.
14
This
bill
requires
the
Iowa
finance
authority
to
establish
a
15
neighborhood
housing
revitalization
assistance
program
for
the
16
purpose
of
providing
and
fostering
lending
programs
and
other
17
services
to
facilitate
targeted
neighborhood
revitalization
in
18
designated
urban
and
rural
areas
in
this
state.
19
The
bill
provides
that
the
program
shall
include
a
20
forgivable
loan
program
for
qualifying
home
improvements,
21
repairs,
and
renovations
for
an
owner-occupied
home.
The
22
bill
requires
the
authority
to
adopt
rules
governing
the
loan
23
program.
The
rules
must
specify
the
types
of
improvements,
24
repairs,
and
renovation
authorized
for
the
program,
and
the
25
method
for
determining,
if
applicable,
the
portion
of
a
loan
26
that
is
to
be
forgiven
based
on
household
income.
27
The
bill
also
establishes
a
neighborhood
housing
28
revitalization
assistance
program
fund
under
the
control
of
29
the
authority.
The
bill
provides
that
the
fund
shall
consist
30
of
any
unobligated
funds
transferred
to
the
fund
from
a
fund
31
described
in
Code
section
15.106A(1)(o),
and
any
other
gift,
32
donation,
federal
or
other
grant,
or
appropriation
intended
to
33
be
used
for
purposes
of
the
fund.
The
bill
provides
that
all
34
moneys
in
the
fund
which
remain
unexpended
or
unobligated
at
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357
the
close
of
a
fiscal
year
shall
not
revert
but
shall
remain
1
available
in
subsequent
fiscal
years.
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