Bill Text: IA SF72 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act establishing a neighborhood housing revitalization assistance program within the Iowa finance authority.
Spectrum: Partisan Bill (Democrat 11-0)
Status: (Introduced - Dead) 2019-01-22 - Subcommittee: Whiting, Bisignano, and R. Smith. S.J. 147. [SF72 Detail]
Download: Iowa-2019-SF72-Introduced.html
Senate
File
72
-
Introduced
SENATE
FILE
72
BY
PETERSEN
,
QUIRMBACH
,
BOLKCOM
,
RAGAN
,
MATHIS
,
KINNEY
,
DOTZLER
,
R.
TAYLOR
,
CELSI
,
LYKAM
,
and
T.
TAYLOR
A
BILL
FOR
An
Act
establishing
a
neighborhood
housing
revitalization
1
assistance
program
within
the
Iowa
finance
authority.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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Section
1.
NEW
SECTION
.
16.52
Neighborhood
housing
1
revitalization
assistance
program
——
fund.
2
1.
The
authority
shall
establish
a
neighborhood
housing
3
revitalization
assistance
program
to
provide
and
foster
4
lending
programs
and
other
services
to
facilitate
targeted
5
neighborhood
revitalization
in
designated
urban
and
rural
areas
6
in
this
state.
The
program
shall
encourage
the
development
of
7
public-private
partnerships
to
provide
loans
and
grants
for
the
8
purpose
of
revitalizing
housing
in
the
designated
areas.
9
2.
The
neighborhood
housing
revitalization
assistance
10
program
shall
include
a
forgivable
loan
program
for
11
qualifying
home
improvements,
repairs,
and
renovations
for
12
an
owner-occupied
home.
The
authority
shall
establish,
by
13
rule,
criteria
for
the
forgivable
loan
program,
subject
to
14
available
funding,
to
include
maximum
loan
amounts,
allowable
15
improvements,
repairs
and
renovations
for
utilizing
the
16
program,
and
the
method,
based
on
household
income,
for
17
determining,
if
applicable,
that
portion
of
a
loan
to
be
18
forgiven
based
on
household
income.
Eligible
improvements,
19
repairs,
and
renovations
for
the
forgivable
loan
program
20
include
but
are
not
limited
to
updating
aged
or
unsafe
heating,
21
air
conditioning,
upgrading
electrical
and
plumbing
systems;
22
roof
repair
or
replacement;
foundation
repair;
exterior
siding
23
repair
or
replacement
and
paint;
window
and
door
repair
or
24
replacement;
garage
construction,
repair,
or
replacement;
25
energy
efficiency-related
repairs
or
upgrades;
architectural
26
barrier
removal
and
wheelchair
or
mobility
assistive
device
27
accessibility;
sidewalk
and
driveway
repair
or
replacement;
28
and
interior
repairs
and
updates.
Landscaping
improvements
or
29
repairs
shall
not
be
eligible
for
the
forgivable
loan
program.
30
3.
a.
A
neighborhood
housing
revitalization
assistance
31
program
fund
is
created
in
the
state
treasury
under
the
control
32
of
the
authority.
Moneys
in
the
fund
shall
be
appropriated
33
to
the
authority
for
purposes
of
the
neighborhood
housing
34
revitalization
assistance
program
as
established
in
this
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section.
1
b.
The
fund
shall
consist
of
any
unobligated
funds
2
transferred
to
the
fund
from
a
fund
described
in
section
3
15.106A,
subsection
1,
paragraph
“o”
,
and
any
other
gift,
4
donation,
federal
or
other
grant,
or
appropriation
from
any
5
source
intended
to
be
used
for
the
purposes
of
the
fund.
6
c.
Notwithstanding
section
8.33,
all
moneys
in
the
fund
7
which
remain
unexpended
or
unobligated
at
the
close
of
the
8
fiscal
year
shall
not
revert
to
the
general
fund
of
the
state
9
but
shall
remain
available
for
expenditure
for
subsequent
10
fiscal
years.
11
EXPLANATION
12
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
13
the
explanation’s
substance
by
the
members
of
the
general
assembly.
14
This
bill
requires
the
Iowa
finance
authority
to
establish
a
15
neighborhood
housing
revitalization
assistance
program
for
the
16
purpose
of
providing
and
fostering
lending
programs
and
other
17
services
to
facilitate
targeted
neighborhood
revitalization
in
18
designated
urban
and
rural
areas
in
this
state.
19
The
bill
provides
that
the
program
shall
include
a
20
forgivable
loan
program
for
qualifying
home
improvements,
21
repairs,
and
renovations
for
an
owner-occupied
home.
The
22
bill
requires
the
authority
to
adopt
rules
governing
the
loan
23
program
and
specifies
the
types
of
improvements,
repairs,
and
24
renovation
authorized
for
the
program.
25
The
bill
also
establishes
a
neighborhood
housing
26
revitalization
assistance
program
fund
under
the
control
of
27
the
authority.
The
bill
provides
that
the
fund
shall
consist
28
of
any
unobligated
funds
transferred
to
the
fund
from
a
fund
29
described
in
Code
section
15.106A,
subsection
1,
paragraph
30
“o”,
and
any
other
gift,
donation,
federal
or
other
grant,
or
31
appropriation
intended
to
be
used
for
purposes
of
the
fund.
32
The
bill
provides
that
all
moneys
in
the
fund
which
remain
33
unexpended
or
unobligated
at
the
close
of
a
fiscal
year
shall
34
not
revert
but
shall
remain
available
in
subsequent
fiscal
35
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