Statutes > Iowa Statutes > Title 1 - State Sovereignty and Management > Subtitle 4 - Executive Branch > CHAPTER 7C - PRIVATE ACTIVITY BOND ALLOCATION ACT > 7C.2 - DECLARATION OF INTENT.

7C.2 - DECLARATION OF INTENT.

        7C.2  DECLARATION OF INTENT.
         It is the intention of the general assembly in enacting this
      chapter to:
         1.  Implement section 146 of the Internal Revenue Code by
      providing a different formula for allocating the state ceiling among
      the various governmental units which are authorized to issue private
      activity bonds under the laws of this state.
         2.  Maximize the availability of the state ceiling to the issuers
      of private activity bonds within the state and thereby maximize the
      economic benefit to the citizens of the state from the issuance of
      private activity bonds.
         Section History: Recent Form
         85 Acts, ch 225, § 4; 87 Acts, ch 171, § 1
         Referred to in § 7C.12