312A.2 - TRANSPORTATION INVESTMENT MOVES THE ECONOMY IN THE TWENTY-FIRST CENTURY (TIME-21) FUND.

        312A.2  TRANSPORTATION INVESTMENT MOVES THE ECONOMY IN      THE TWENTY-FIRST CENTURY (TIME-21) FUND.         1.  A transportation investment moves the economy in the      twenty-first century fund is created in the state treasury under the      control of the department.  The fund shall be known and referred to      as the TIME-21 fund.  The fund shall consist of any moneys      appropriated by the general assembly and any revenues credited by law      to the TIME-21 fund.  Moneys in the fund are not subject to section      8.33.  Notwithstanding section 12C.7, subsection 2, interest or      earnings on moneys deposited in the fund shall be credited to the      fund.         2.  Notwithstanding subsection 1 and section 312.2, for the fiscal      year beginning July 1, 2008, and for each fiscal year thereafter, not      more than a total of two hundred twenty-five million dollars shall be      deposited in the TIME-21 fund for any fiscal year.  Any remaining      moneys directed to be deposited in the TIME-21 fund for a fiscal year      shall be deposited or retained in the road use tax fund.  
         Section History: Recent Form
         2007 Acts, ch 200, §2; 2009 Acts, ch 130, §45, 46         Referred to in § 312.2