16.186 - DISASTER DAMAGE HOUSING ASSISTANCE GRANT FUND.
16.186 DISASTER DAMAGE HOUSING ASSISTANCE GRANT
FUND.
1. A disaster damage housing assistance grant fund is created
under the authority of the Iowa finance authority. The fund shall
consist of appropriations made to the fund. The fund shall be
separate from the general fund of the state and the balance in the
fund shall not be considered part of the balance of the general fund
of the state. However, the fund shall be considered a special
account for the purposes of section 8.53, relating to generally
accepted accounting principles.
2. Notwithstanding section 12C.7, subsection 2, interest or
earnings on moneys in the fund shall be credited to the fund.
3. Moneys in the fund in a fiscal year shall be used as
appropriated by the general assembly for grants to ease and speed
recovery efforts from the natural disasters of 2008, including
stabilizing neighborhoods damaged by the natural disasters,
preventing population loss and neighborhood deterioration, and
improving the health, safety, and welfare of persons living in such
disaster-damaged neighborhoods.
4. Annually, on or before January 15 of each year, a state agency
that received an appropriation for the disaster damage housing
assistance grant fund shall report to the legislative services agency
and the department of management the status of all projects completed
or in progress. The report shall include a description of the
project, the progress of work completed, the total estimated cost of
the project, a list of all revenue sources being used to fund the
project, the amount of funds expended, the amount of funds obligated,
and the date the project was completed or an estimated completion
date of the project, where applicable.
5. Payment of moneys from appropriations from the fund shall be
made in a manner that does not adversely affect the tax-exempt status
of any outstanding bonds issued by the treasurer of state pursuant to
section 12.87.
6. The authority shall adopt rules pursuant to chapter 17A to
administer this section. Section History: Recent Form
2009 Acts, ch 173, §29, 36