Bill Text: IA HF153 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A bill for an act authorizing the college student aid commission to organize a nonprofit corporation to provide Iowans with postsecondary educational financial assistance.
Spectrum: Partisan Bill (Democrat 28-0)
Status: (Introduced - Dead) 2013-12-31 - END OF 2013 ACTIONS [HF153 Detail]
Download: Iowa-2013-HF153-Introduced.html
House
File
153
-
Introduced
HOUSE
FILE
153
BY
WINCKLER
,
WESSEL-KROESCHELL
,
LUNDBY
,
KAJTAZOVIC
,
ANDERSON
,
THEDE
,
BERRY
,
RUFF
,
STECKMAN
,
THOMAS
,
BEARINGER
,
KEARNS
,
STAED
,
WOLFE
,
HEDDENS
,
KRESSIG
,
T.
TAYLOR
,
R.
OLSON
,
ABDUL-SAMAD
,
GAINES
,
HANSON
,
JACOBY
,
LENSING
,
STUTSMAN
,
KELLEY
,
FORBES
,
DUNKEL
,
WOOD
,
and
JORGENSEN
A
BILL
FOR
An
Act
authorizing
the
college
student
aid
commission
to
1
organize
a
nonprofit
corporation
to
provide
Iowans
with
2
postsecondary
educational
financial
assistance.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
NEW
SECTION
.
261.8
Corporation
for
educational
1
financial
assistance.
2
1.
Nonprofit
corporation
for
receiving
and
disbursing
3
funds.
The
college
student
aid
commission
may
organize
a
4
corporation
under
the
provisions
of
chapter
504
that
qualifies
5
under
section
501(c)(3)
of
the
Internal
Revenue
Code
as
an
6
organization
exempt
from
taxation
for
the
purpose
of
receiving
7
and
disbursing
funds
from
public
or
private
sources
to
be
used
8
to
provide
Iowans
with
educational
financial
assistance
under
9
programs
administered
by
the
commission.
Unless
otherwise
10
provided
in
this
section,
the
corporation
is
subject
to
the
11
provisions
of
chapter
504.
12
2.
Incorporators.
The
incorporators
of
the
corporation
13
organized
pursuant
to
this
section
shall
be
the
chairperson
of
14
the
commission,
the
executive
director
of
the
commission,
and
15
a
member
of
the
commission
selected
by
a
majority
vote
of
the
16
commission.
17
3.
Board
of
directors.
The
board
of
directors
of
the
18
corporation
organized
pursuant
to
this
section
shall
be
the
19
members
of
the
commission
appointed
under
section
261.1,
20
subsection
2,
paragraph
“d”
,
or
their
successors
in
office.
21
4.
Accepting
grants
in
aid.
The
corporation
organized
22
pursuant
to
this
section
may
accept
grants
of
money
or
property
23
from
the
federal
government
or
private
sources
and
may
upon
24
its
own
order
use
its
money,
property,
or
other
resources
for
25
purposes
of
providing
educational
financial
assistance
under
26
programs
administered
by
the
commission.
27
5.
Open
meetings
and
open
records.
The
corporation
is
28
subject
to
chapters
21
and
22.
29
6.
Status.
The
corporation
shall
collaborate
with
the
30
commission
for
the
purposes
specified
in
this
section,
but
the
31
corporation
shall
not
be
considered,
in
whole
or
in
part,
an
32
agency,
department,
or
administrative
unit
of
the
state.
The
33
corporation
shall
not
receive
appropriations
from
the
general
34
assembly.
Except
as
provided
in
subsection
5,
the
corporation
35
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shall
not
be
required
to
comply
with
any
requirements
that
1
apply
to
a
state
agency,
department,
or
administrative
unit
and
2
shall
not
exercise
any
sovereign
power
of
the
state.
3
7.
No
state
liability.
The
corporation
does
not
have
4
authority
to
pledge
the
credit
of
the
state,
and
the
state
5
shall
not
be
liable
for
the
debts
or
obligations
of
the
6
corporation.
All
debts
and
obligations
of
the
corporation
7
shall
be
payable
solely
from
the
corporation’s
funds.
8
8.
Tax
deductible.
The
corporation
shall
be
established
9
so
that
donations
and
bequests
to
it
qualify
as
tax
deductible
10
under
state
income
tax
laws
and
under
section
501(c)(3)
of
the
11
Internal
Revenue
Code.
12
9.
Staffing
and
administrative
support.
The
commission
13
shall
provide
staff
assistance
and
administrative
support
to
14
the
corporation.
15
10.
Report.
The
corporation
shall
submit
by
January
15
16
annually
a
written
report
of
its
activities
and
operations
to
17
the
governor,
the
general
assembly,
and
the
commission.
18
EXPLANATION
19
This
bill
authorizes
the
college
student
aid
commission
to
20
organize
a
corporation
under
Iowa’s
revised
Iowa
nonprofit
21
corporation
Act
that
qualifies
under
section
501(c)(3)
of
22
the
Internal
Revenue
Code
as
a
tax-exempt
organization.
The
23
corporation
must
be
organized
for
the
purpose
of
receiving
and
24
disbursing
funds
from
public
or
private
sources
to
be
used
to
25
provide
Iowans
with
educational
financial
assistance
under
26
programs
administered
by
the
college
student
aid
commission
in
27
accordance
with
Code
chapter
261.
28
The
incorporators
of
the
corporation
shall
be
the
29
chairperson
of
the
commission,
the
executive
director
of
the
30
commission,
and
a
member
of
the
commission
selected
by
a
31
majority
vote
of
the
commission.
The
board
of
directors
of
32
the
corporation
shall
be
the
eight
members
of
the
commission
33
appointed
by
the
governor
or
their
successors
in
office.
34
The
corporation
may
accept
grants
of
money
or
property
35
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from
the
federal
government
or
private
sources
and
may
upon
1
its
own
order
use
its
money,
property,
or
other
resources
for
2
purposes
of
providing
educational
financial
assistance
under
3
programs
administered
by
the
college
student
aid
commission
in
4
accordance
with
Code
chapter
261.
5
The
corporation
is
subject
to
the
open
meetings
and
open
6
records
laws
in
Code
chapters
21
and
22,
but
the
corporation
7
shall
not
otherwise
be
required
to
comply
with
any
requirements
8
that
apply
to
a
state
agency,
department,
or
administrative
9
unit
and
shall
not
exercise
any
sovereign
power
of
the
state.
10
The
corporation
shall
collaborate
with
the
commission
for
the
11
purposes
specified
in
the
bill,
but
shall
not
be
considered
an
12
agency,
department,
or
administrative
unit
of
the
state,
nor
13
shall
it
receive
appropriations
from
the
general
assembly.
The
14
corporation
shall
be
established
so
that
donations
and
bequests
15
to
it
qualify
as
tax
deductible
under
federal
and
state
income
16
tax
laws.
17
The
corporation
does
not
have
authority
to
pledge
the
credit
18
of
the
state,
and
the
state
shall
not
be
liable
for
the
debts
or
19
obligations
of
the
corporation.
20
The
commission
shall
provide
staff
assistance
and
21
administrative
support
to
the
corporation.
The
corporation
22
shall
submit
a
written
report
annually
of
its
activities
and
23
operations
to
the
governor,
the
general
assembly,
and
the
24
commission.
25
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