Bill Text: IA SF344 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to repayment of governmental subdivision loans for disaster aid.(Formerly SF 137.)
Spectrum: Committee Bill
Status: (Introduced) 2024-01-11 - Subcommittee: Green, Lofgren, and Weiner. S.J. 96. [SF344 Detail]
Download: Iowa-2023-SF344-Introduced.html
Senate
File
344
-
Introduced
SENATE
FILE
344
BY
COMMITTEE
ON
LOCAL
GOVERNMENT
(SUCCESSOR
TO
SF
137)
A
BILL
FOR
An
Act
relating
to
repayment
of
governmental
subdivision
loans
1
for
disaster
aid.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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S.F.
344
Section
1.
Section
29C.20,
subsection
1,
paragraph
a,
1
subparagraph
(6),
subparagraph
division
(b),
Code
2023,
is
2
amended
to
read
as
follows:
3
(b)
Upon
application
by
a
governmental
subdivision
in
4
such
an
area,
accompanied
by
a
showing
of
obligations
and
5
expenditures
necessitated
by
an
actual
or
potential
disaster
6
in
a
form
and
with
further
information
the
executive
council
7
requires,
the
aid
may
be
made
in
the
discretion
of
the
8
executive
council
and,
if
made,
shall
be
in
the
nature
of
a
9
loan
up
to
a
limit
of
seventy-five
percent
of
the
showing
of
10
obligations
and
expenditures.
The
loan,
without
interest,
11
shall
be
repaid
by
the
maximum
annual
emergency
levy
authorized
12
by
section
24.6
,
or
by
the
appropriate
levy
authorized
for
a
13
governmental
subdivision
not
covered
by
section
24.6
.
However,
14
the
executive
council,
for
good
cause
shown,
may
forgive
15
repayment
of
a
loan
in
an
amount
not
to
exceed
one
million
16
dollars.
The
aggregate
total
of
loans
shall
not
exceed
one
17
million
dollars
during
a
fiscal
year.
A
loan
shall
not
be
for
18
an
obligation
or
expenditure
occurring
more
than
two
years
19
previous
to
the
application.
20
EXPLANATION
21
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
22
the
explanation’s
substance
by
the
members
of
the
general
assembly.
23
This
bill
concerns
loans
to
a
governmental
subdivision
24
for
disaster
aid
from
the
contingent
fund
under
Code
section
25
29C.20.
The
bill
authorizes
the
executive
council
to
forgive
26
the
repayment
of
a
loan
in
an
amount
up
to
$1
million
for
good
27
cause
shown.
28
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