Bill Text: IA HSB682 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act concerning manufactured homes by creating a manufactured housing program fund and providing eligibility under the home ownership assistance program for military members for the purchase of manufactured homes.
Spectrum: Committee Bill
Status: (N/A - Dead) 2018-04-02 - Committee report, recommending passage. H.J. 722. [HSB682 Detail]
Download: Iowa-2017-HSB682-Introduced.html
House
Study
Bill
682
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
APPROPRIATIONS
BILL
BY
CHAIRPERSON
GRASSLEY)
A
BILL
FOR
An
Act
concerning
manufactured
homes
by
creating
a
manufactured
1
housing
program
fund
and
providing
eligibility
under
the
2
home
ownership
assistance
program
for
military
members
for
3
the
purchase
of
manufactured
homes.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
5392YC
(2)
87
ec/rj
H.F.
_____
Section
1.
NEW
SECTION
.
16.45
Manufactured
housing
program
1
fund.
2
1.
A
manufactured
housing
program
fund
is
created
within
3
the
authority
to
further
the
goal
of
providing
affordable
4
housing
to
Iowans.
The
moneys
in
the
fund
are
to
be
used
for
5
the
purpose
of
providing
funding
to
financial
institutions
or
6
other
lenders
to
finance
the
purchase
by
an
individual
of
a
7
manufactured
home
that
is
in
compliance
with
all
laws,
rules,
8
and
standards
that
are
applicable
to
manufactured
homes
and
9
manufactured
housing.
The
manufactured
housing
program
fund
10
is
designed
exclusively
for
manufactured
homes
sited
on
leased
11
land.
12
2.
a.
Moneys
received
by
the
authority
for
the
manufactured
13
housing
program
fund,
transferred
by
the
authority
for
deposit
14
in
the
fund,
appropriated
to
the
fund,
and
any
other
moneys
15
available
to
and
obtained
or
accepted
by
the
authority
for
16
placement
in
the
fund
shall
be
deposited
in
the
fund
and
are
17
appropriated
to
the
authority
to
be
used
as
set
forth
in
this
18
section.
19
b.
Notwithstanding
any
provision
of
section
16.46,
20
16.47,
16.48,
or
16.49
to
the
contrary,
the
authority
shall
21
be
authorized
to
transfer
for
deposit
in
the
manufactured
22
housing
program
fund
for
any
fiscal
year
any
unobligated
and
23
unencumbered
moneys
in
the
funds
created
in
sections
16.46,
24
16.47,
16.48,
and
16.49
from
the
prior
fiscal
year.
However,
25
the
maximum
amount
of
moneys
that
may
be
so
transferred
for
any
26
fiscal
year
shall
not
exceed
the
lesser
of
one
million
dollars
27
or
an
amount
equal
to
the
total
amount
of
any
unobligated
and
28
unencumbered
moneys
in
the
funds
available
for
transfer
from
29
the
previous
fiscal
year
reduced
by
one
million
dollars.
30
c.
Additionally,
recapture
of
awards
and
other
repayments
to
31
the
fund
shall
be
deposited
in
the
fund
and
are
appropriated
32
to
the
authority
to
be
used
as
set
forth
in
this
section.
33
Notwithstanding
section
8.33,
unencumbered
or
unobligated
34
moneys
remaining
in
the
fund
on
June
30
of
any
fiscal
year
35
-1-
LSB
5392YC
(2)
87
ec/rj
1/
4
H.F.
_____
shall
not
revert
to
any
other
fund
but
shall
be
available
for
1
expenditure
in
subsequent
years.
However,
any
unencumbered
2
or
unobligated
moneys
remaining
in
the
fund
on
June
30
of
any
3
fiscal
year
that
were
transferred
to
the
fund
as
provided
in
4
paragraph
“b”
shall
revert
to
the
fund
from
which
the
transfer
5
was
made.
Notwithstanding
section
12C.7,
subsection
2,
6
interest
or
earnings
on
moneys
in
the
fund
or
appropriated
to
7
the
fund
shall
be
credited
to
the
fund.
8
3.
The
authority
shall
allocate
moneys
available
in
the
9
manufactured
housing
program
fund
to
financial
institutions
10
or
other
lenders
to
be
used
as
set
forth
in
subsection
1.
11
The
authority
may
provide
funding
to
financial
institutions
12
or
other
lenders
in
the
form
of
loans,
linked
deposits,
13
guarantees,
reserve
funds,
or
any
other
prudent
financial
14
instruments.
15
4.
The
authority
shall
adopt
rules
pursuant
to
chapter
17A
16
necessary
to
implement
and
administer
this
section,
including
17
but
not
limited
to
eligibility
requirements
for
financial
18
institutions
or
other
lenders
to
receive
funding
through
the
19
manufactured
housing
program
fund.
20
5.
For
purposes
of
this
section,
“financial
institutions”
21
means
the
same
as
defined
in
section
12C.1,
“lender”
means
22
a
lender
as
defined
in
section
537.1301
that
is
licensed
23
by
the
banking
division
of
the
department
of
commerce,
and
24
“manufactured
home”
or
“manufactured
housing”
means
the
same
as
25
the
definition
of
manufactured
home
in
section
435.1.
26
Sec.
2.
Section
16.54,
subsection
2,
Code
2018,
is
amended
27
to
read
as
follows:
28
2.
The
home
ownership
assistance
program
is
established
to
29
continue
the
program
implemented
pursuant
to
2005
Iowa
Acts,
30
ch.
161,
§1,
as
amended
by
2005
Iowa
Acts,
ch.
115,
§37,
and
31
continued
in
accordance
with
2006
Iowa
Acts,
ch.
1167,
§3
and
32
4,
and
other
appropriations,
to
provide
financial
assistance
to
33
eligible
members
of
the
armed
forces
of
the
United
States
to
34
be
used
for
purchasing
primary
residences
,
including
but
not
35
-2-
LSB
5392YC
(2)
87
ec/rj
2/
4
H.F.
_____
limited
to
manufactured
homes
on
leased
land,
in
the
state
of
1
Iowa.
2
EXPLANATION
3
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
4
the
explanation’s
substance
by
the
members
of
the
general
assembly.
5
This
bill
concerns
manufactured
homes.
6
New
Code
section
16.45
creates
the
manufactured
housing
7
program
fund
within
the
Iowa
finance
authority
to
further
the
8
goal
of
providing
affordable
housing
to
Iowans.
The
moneys
9
in
the
fund
are
annually
appropriated
to
the
authority
for
10
the
purpose
of
providing
funding
to
financial
institutions
or
11
other
lenders
to
finance
the
purchase
by
an
individual
of
a
12
manufactured
home
that
is
in
compliance
with
all
applicable
13
laws,
rules,
and
standards
that
are
applicable
to
manufactured
14
homes
and
manufactured
housing.
The
bill
further
provides
15
that
the
fund
is
designed
exclusively
for
manufactured
homes
16
on
leased
land.
17
The
bill
authorizes
the
authority
to
transfer
for
deposit
18
in
the
new
fund
for
any
fiscal
year
any
unobligated
and
19
unencumbered
moneys
from
the
senior
living
revolving
loan
20
program
fund,
home
and
community-based
services
revolving
loan
21
program
fund,
transitional
housing
revolving
loan
program
22
fund,
and
community
housing
and
services
for
persons
with
23
disabilities
revolving
loan
program
fund
from
the
prior
fiscal
24
year.
However,
the
bill
provides
that
the
maximum
amount
of
25
moneys
that
may
be
so
transferred
for
any
fiscal
year
shall
not
26
exceed
the
lesser
of
$1
million
or
an
amount
equal
to
the
total
27
amount
of
any
unobligated
and
unencumbered
moneys
in
the
funds
28
available
for
transfer
from
the
previous
fiscal
year
reduced
29
by
$1
million.
30
The
authority
is
required
to
allocate
the
moneys
in
the
fund
31
to
financial
institutions
or
other
lenders
to
meet
the
purposes
32
set
forth
in
the
bill
and
may
provide
funding
in
the
form
of
33
loans,
linked
deposits,
guarantees,
reserve
funds,
or
any
other
34
prudent
financial
instruments.
35
-3-
LSB
5392YC
(2)
87
ec/rj
3/
4
H.F.
_____
The
authority
is
required
to
adopt
rules
that
include
but
1
are
not
limited
to
eligibility
requirements
for
financial
2
institutions
or
other
lenders
to
receive
funding,
and
any
3
other
rules
that
are
necessary
to
implement
and
administer
the
4
provisions
of
the
bill.
5
For
purposes
of
the
bill,
“financial
institution”
means
6
as
defined
in
Code
section
12C.1,
“lender”
means
a
lender
7
as
defined
in
Code
section
537.1301
that
is
licensed
by
8
the
banking
division
of
the
department
of
commerce,
and
9
“manufactured
home”
or
“manufactured
housing”
means
a
10
factory-built
structure
constructed
under
authority
of
42
11
U.S.C.
§5403,
that
is
required
by
federal
law
to
display
a
12
seal
from
the
United
States
department
of
housing
and
urban
13
development,
and
was
constructed
on
or
after
June
15,
1976.
14
Code
section
16.54,
establishing
the
home
ownership
15
assistance
program
for
military
members,
is
amended
to
provide
16
that
primary
residences,
for
purposes
of
this
program,
includes
17
manufactured
homes
on
leased
land.
18
-4-
LSB
5392YC
(2)
87
ec/rj
4/
4
