Bill Text: IA HF586 | 2017-2018 | 87th General Assembly | Enrolled
Bill Title: A bill for an act relating to financial matters, including mechanic’s liens, and the Iowa finance authority by establishing a rent subsidy program, modifying shelter assistance fund grant award requirements, and revising filing requirements for certain bonds and notes issued by the authority. (Formerly HSB 153.) Effective 7-1-17.
Spectrum: Committee Bill
Status: (Passed) 2017-04-07 - Signed by Governor. H.J. 961. [HF586 Detail]
Download: Iowa-2017-HF586-Enrolled.html
House File 586 - Enrolled
HOUSE FILE
BY COMMITTEE ON COMMERCE
(SUCCESSOR TO HSB 153)
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A BILL FOR
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House File 586
AN ACT
RELATING TO FINANCIAL MATTERS, INCLUDING MECHANIC'S
LIENS, AND THE IOWA FINANCE AUTHORITY BY ESTABLISHING A RENT
SUBSIDY PROGRAM, MODIFYING SHELTER ASSISTANCE FUND GRANT
AWARD REQUIREMENTS, AND REVISING FILING REQUIREMENTS FOR
CERTAIN BONDS AND NOTES ISSUED BY THE AUTHORITY.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
Section 1. Section 16.26, subsection 7, Code 2017, is
amended by striking the subsection and inserting in lieu
thereof the following:
7. A pledge made in respect of bonds or notes shall be
valid and binding from the time the pledge is made. The moneys
or property so pledged and received after the pledge by the
authority shall immediately be subject to the lien of the
pledge without physical delivery or further act. The lien of
the pledge shall be valid and binding as against all parties
having claims of any kind in tort, contract, or otherwise
against the authority whether or not the parties have notice
of the lien. Neither the resolution, trust agreement, nor
any other instrument by which a pledge is created needs to
be recorded or filed under the Iowa uniform commercial code,
chapter 554, to be valid, binding, or effective against the
parties.
Sec. 2. Section 16.41, subsection 2, Code 2017, is amended
to read as follows:
2. The authority shall award grants annually to qualified
applicants on a competitive basis. The authority shall
establish application procedures, requirements, priorities, and
maximum and minimum grant award amounts for each annual grant
competition.
Sec. 3. NEW SECTION. 16.55 Home and community=based
services rent subsidy program.
The authority shall establish and administer a home and
community=based services rent subsidy program. Under the
program, the authority shall provide rent subsidies to
those persons who are approved participants under a home
and community=based services Medicaid waiver, and to those
individuals who are approved participants in the federal
money follows the person grant program under the medical
assistance program. If the authority utilizes a waiting list
for purposes of the program, the authority shall give priority
to a person participating in the state's money follows the
person partnership for community integration project who has
been assigned to work with a transition specialist.
Sec. 4. Section 572.13A, subsection 1, unnumbered paragraph
1, Code 2017, is amended to read as follows:
A Either a general contractor, or an owner=builder who has
contracted or will contract with a subcontractor to provide
labor or furnish material for the property, shall post a
notice of commencement of work to the mechanics' notice and
lien registry internet site no later than ten days after the
commencement of work on the property. A notice of commencement
of work is effective only as to any labor, service, equipment,
or material furnished to the property subsequent to the
posting of the notice of commencement of work. A notice
of commencement of work shall include all of the following
information:
LINDA UPMEYER
JACK WHITVER
CARMINE BOAL
TERRY E. BRANSTA
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