Bill Text: IA HF518 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A bill for an act creating the manufactured housing program fund. (Formerly HSB 156)
Spectrum: Committee Bill
Status: (Engrossed - Dead) 2013-12-31 - END OF 2013 ACTIONS [HF518 Detail]
Download: Iowa-2013-HF518-Introduced.html
House
File
518
-
Introduced
HOUSE
FILE
518
BY
COMMITTEE
ON
ECONOMIC
GROWTH
(SUCCESSOR
TO
HSB
156)
A
BILL
FOR
An
Act
creating
the
manufactured
housing
program
fund.
1
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
2
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518
Section
1.
NEW
SECTION
.
16.100B
Manufactured
housing
1
program
fund.
2
1.
A
manufactured
housing
program
fund
is
created
within
the
3
authority
to
further
the
goal
of
providing
affordable
housing
4
to
Iowans.
The
moneys
in
the
fund
are
annually
appropriated
to
5
the
authority
for
the
purpose
of
providing
funding
to
financing
6
agents
or
financial
institutions
to
finance
the
purchase
by
7
an
individual
of
a
manufactured
home
that
is
in
compliance
8
with
all
laws,
rules,
and
standards
that
are
applicable
to
9
manufactured
homes
and
manufactured
housing.
10
2.
Moneys
received
by
the
authority
for
the
manufactured
11
housing
program
fund,
transferred
by
the
authority
for
deposit
12
in
the
fund,
appropriated
to
the
fund,
and
any
other
moneys
13
available
to
and
obtained
or
accepted
by
the
authority
for
14
placement
in
the
fund
shall
be
deposited
in
the
fund
and
are
15
appropriated
to
the
authority
to
be
used
as
set
forth
in
16
this
section.
Additionally,
recapture
of
awards
and
other
17
repayments
to
the
fund
shall
be
deposited
in
the
fund
and
18
are
appropriated
to
the
authority
to
be
used
as
set
forth
in
19
this
section.
Notwithstanding
section
8.33,
unencumbered
or
20
unobligated
moneys
remaining
in
the
fund
on
June
30
of
any
21
fiscal
year
shall
not
revert
to
any
other
fund
but
shall
be
22
available
for
expenditure
in
subsequent
years.
Notwithstanding
23
section
12C.7,
interest
or
earnings
on
moneys
in
the
fund
or
24
appropriated
to
the
fund
shall
be
credited
to
the
fund.
25
3.
The
authority
shall
allocate
moneys
available
in
the
26
manufactured
housing
program
fund
to
financing
agents
or
27
financial
institutions
to
be
used
as
set
forth
in
subsection
28
1.
The
authority
may
provide
funding
to
a
financing
agent
or
29
financial
institution
in
the
form
of
loans,
linked
deposits,
30
guarantees,
reserve
funds,
or
any
other
prudent
financial
31
instruments.
32
4.
The
authority
shall
adopt
rules
pursuant
to
chapter
33
17A
including
but
not
limited
to
eligibility
requirements
for
34
financing
agents
or
financial
institutions
to
receive
funding
35
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518
through
the
manufactured
housing
program
fund
and
any
other
1
rules
necessary
to
implement
and
administer
this
section.
2
5.
For
purposes
of
this
section,
“manufactured
home”
or
3
“manufactured
housing”
means
the
same
as
defined
in
section
4
435.1.
5
EXPLANATION
6
This
bill
creates
the
manufactured
housing
program
fund
7
within
the
Iowa
finance
authority
to
further
the
goal
of
8
providing
affordable
housing
to
Iowans.
The
moneys
in
the
fund
9
are
annually
appropriated
to
the
authority
for
the
purpose
of
10
providing
funding
to
financing
agents
or
financial
institutions
11
to
finance
the
purchase
by
an
individual
of
a
manufactured
12
home
that
is
in
compliance
with
all
applicable
laws,
rules,
13
and
standards
that
are
applicable
to
manufactured
homes
and
14
manufactured
housing.
15
The
authority
is
required
to
allocate
the
moneys
in
the
fund
16
to
financing
agents
and
financial
institutions
to
meet
the
17
purposes
set
forth
in
the
bill
and
may
provide
funding
in
the
18
form
of
loans,
linked
deposits,
guarantees,
reserve
funds,
or
19
any
other
prudent
financial
instruments.
20
The
authority
is
required
to
adopt
rules
that
include
but
21
are
not
limited
to
eligibility
requirements
for
financing
22
agents
and
financial
institutions
to
receive
funding,
and
any
23
other
rules
that
are
necessary
to
implement
and
administer
the
24
provisions
of
the
bill.
25
For
purposes
of
the
bill,
“manufactured
home”
or
26
“manufactured
housing”
means
a
factory-built
structure
27
constructed
under
authority
of
42
U.S.C.
§
5403,
that
is
28
required
by
federal
law
to
display
a
seal
from
the
United
29
States
department
of
housing
and
urban
development,
and
was
30
constructed
on
or
after
June
15,
1976.
31
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