Bill Text: IA HF741 | 2019-2020 | 88th General Assembly | Enrolled
Bill Title: A bill for an act relating to the property tax levy for the payment of general obligation bonds issued by cities for certain flood-related purposes and including applicability provisions. (Formerly HSB 99 and HF 589.) Effective 7-1-19.
Spectrum: Committee Bill
Status: (Passed) 2019-05-16 - Signed by Governor. H.J. 1083. [HF741 Detail]
Download: Iowa-2019-HF741-Enrolled.html
House
File
741
-
Enrolled
House
File
741
AN
ACT
RELATING
TO
THE
PROPERTY
TAX
LEVY
FOR
THE
PAYMENT
OF
GENERAL
OBLIGATION
BONDS
ISSUED
BY
CITIES
FOR
CERTAIN
FLOOD-RELATED
PURPOSES
AND
INCLUDING
APPLICABILITY
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
76.1,
subsection
2,
paragraph
b,
Code
2019,
is
amended
to
read
as
follows:
b.
General
obligation
bonds
issued
for
any
of
the
following
purposes
may
mature
and
be
retired
in
a
period
not
exceeding
thirty
years
from
date
of
issue:
(1)
Purposes
specified
in
section
331.441,
subsection
2
,
paragraph
“b”
,
subparagraphs
(18)
and
(19)
,
or
.
(2)
Purposes
specified
in
section
384.24,
subsection
3
,
paragraphs
“w”
and
“x”
,
and
bonds
.
(3)
Purposes
specified
in
section
384.24,
subsection
3,
paragraph
“i”
,
if
the
bonds
are
issued
in
conjunction
with
a
project
approved
by
the
flood
mitigation
board
under
chapter
418
and
if
the
estimated
useful
life
of
the
project,
independently
determined
by
a
licensed
professional
engineer,
is
at
least
two
hundred
percent
of
the
maturity
and
retirement
period
for
the
bonds.
(4)
Bonds
issued
to
refund
or
refinance
bonds
issued
for
House
File
741,
p.
2
those
the
purposes
,
may
mature
and
be
retired
in
a
period
not
exceeding
thirty
years
from
date
of
issue
specified
in
subparagraph
(1),
(2),
or
(3)
.
Sec.
2.
APPLICABILITY.
This
Act
applies
to
bonds
issued
before,
on,
or
after
the
effective
date
of
this
Act.
______________________________
LINDA
UPMEYER
Speaker
of
the
House
______________________________
CHARLES
SCHNEIDER
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
741,
Eighty-eighth
General
Assembly.
______________________________
CARMINE
BOAL
Chief
Clerk
of
the
House
Approved
_______________,
2019
______________________________
KIM
REYNOLDS
Governor
