Bill Text: IA HF550 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act relating to the environmental impact of livestock operations by providing for financial assistance, and making an appropriation. (Formerly HSB 188)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [HF550 Detail]
Download: Iowa-2011-HF550-Introduced.html
House
File
550
-
Introduced
HOUSE
FILE
550
BY
COMMITTEE
ON
AGRICULTURE
(SUCCESSOR
TO
HSB
188)
A
BILL
FOR
An
Act
relating
to
the
environmental
impact
of
livestock
1
operations
by
providing
for
financial
assistance,
and
making
2
an
appropriation.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
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550
Section
1.
NEW
SECTION
.
175.34A
Livestock
environmental
1
assistance
revolving
fund.
2
1.
A
livestock
environmental
assistance
revolving
fund
3
is
created
in
the
state
treasury
under
the
control
of
the
4
agricultural
development
authority.
The
fund
is
composed
5
of
moneys
appropriated
by
the
general
assembly,
and
moneys
6
available
to
and
obtained
or
accepted
by
the
authority
from
7
the
United
States
or
private
sources
for
placement
in
the
8
fund.
It
shall
include
moneys
attributable
to
interest
earned
9
on
a
certificate
of
deposit
issued
by
an
eligible
lending
10
institution
participating
in
the
livestock
environmental
11
assistance
program
as
provided
in
section
175.34B
and
12
the
moneys
attributable
to
the
principal
invested
in
the
13
certificate
of
deposit
upon
its
maturity,
renewal,
or
early
14
withdrawal.
15
2.
Moneys
in
the
fund
are
subject
to
an
annual
audit
by
the
16
auditor
of
state.
17
3.
The
fund
shall
be
used
exclusively
to
support
the
18
livestock
environmental
assistance
program
as
provided
in
19
section
175.34B,
and
to
defray
expenses
by
the
authority
in
20
administering
the
program.
21
4.
The
authority
may
adopt
rules
pursuant
to
chapter
17A
to
22
administer
this
section.
23
5.
Section
8.33
shall
not
apply
to
moneys
in
the
fund.
24
Notwithstanding
section
12C.7,
moneys
earned
as
income,
25
including
as
interest,
from
the
fund
shall
remain
in
the
fund
26
until
expended
as
provided
in
this
section.
27
Sec.
2.
NEW
SECTION
.
175.34B
Livestock
environmental
28
assistance
program.
29
1.
As
used
in
this
section,
unless
the
context
otherwise
30
requires:
31
a.
“Eligible
lending
institution”
means
a
financial
32
institution
that
is
empowered
to
make
commercial
loans
and
is
33
eligible
pursuant
to
chapter
12C
to
be
a
depository
of
state
34
funds.
35
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550
b.
“Livestock”
means
the
same
as
in
section
169C.1.
1
2.
The
authority
shall
establish
a
livestock
environmental
2
assistance
program.
The
authority
may
enter
into
agreements
3
with
eligible
lending
institutions
that
provide
loans
4
to
livestock
producers
for
the
purposes
of
constructing
5
structures,
or
installing
practices,
equipment,
or
systems
6
which
prevent
or
control
the
impact
of
a
livestock
operation
7
on
the
environment.
8
3.
As
part
of
the
agreement,
the
authority
may
deposit
an
9
amount
equaling
all
or
part
of
the
principal
loan
amount
with
10
the
eligible
lending
institution
in
return
for
a
certificate
11
of
deposit
issued
by
the
eligible
lending
institution.
The
12
authority
may
provide
for
the
terms
and
conditions
of
the
13
agreement
offered
to
eligible
lending
institutions,
including
14
but
not
limited
to
the
interest
rate
borne
by
the
certificate
15
of
deposit
at
a
rate
which
is
lower
than
the
existing
16
market
rate,
compliance
with
the
terms
and
conditions
of
the
17
agreement,
penalties
for
breach
of
the
agreement,
and
the
18
renewal
of
a
certificate
of
deposit.
19
4.
Nothing
in
this
section
authorizes
the
authority
to
be
a
20
lender,
guarantor,
secured
party,
or
servicer
of
a
loan.
21
5.
The
authority
shall
not
in
any
manner
directly
or
22
indirectly
pledge
the
credit
of
the
state.
23
6.
The
authority
shall
adopt
all
rules
necessary
to
24
administer
this
section.
25
Sec.
3.
APPROPRIATION.
There
is
appropriated
from
the
26
general
fund
of
the
state
to
the
livestock
environmental
27
assistance
revolving
fund
created
in
section
175.34A
for
the
28
fiscal
year
beginning
July
1,
2011,
and
ending
June
30,
2012,
29
the
following
amount,
or
so
much
thereof
as
is
necessary,
to
be
30
used
for
the
purposes
designated:
31
For
purposes
of
supporting
the
livestock
environmental
32
assistance
program
as
provided
in
section
175.34B:
33
.
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.
$
15,000,000
34
EXPLANATION
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This
bill
establishes
a
livestock
environmental
assistance
1
revolving
fund
and
program
administered
by
the
agricultural
2
development
authority.
The
purpose
of
the
fund
and
the
program
3
is
to
allow
the
authority
to
enter
into
agreements
with
private
4
lenders
who
extend
commercial
loans
to
livestock
producers
5
for
the
purposes
of
constructing
structures,
or
installing
6
practices,
equipment,
or
systems
which
prevent
or
control
the
7
impact
of
a
livestock
operation
on
the
environment.
As
part
8
of
the
agreement,
the
authority
deposits
moneys
equaling
the
9
principal
amount
of
the
loan
with
the
lending
institution
in
10
return
for
a
certificate
of
deposit
earning
interest
at
a
rate
11
lower
than
the
market
rate.
The
moneys
from
the
certificate
of
12
deposit
are
to
be
placed
in
the
fund
on
maturity.
13
The
bill
appropriates
$15
million
to
the
fund
from
the
14
general
fund
of
the
state.
Moneys
in
the
fund
do
not
revert
to
15
the
general
fund
of
the
state
and
interest
earned
on
the
fund
16
remains
in
the
fund.
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