Bill Text: IA SF2387 | 2023-2024 | 90th General Assembly | Enrolled
Bill Title: A bill for an act relating to the duties of the Iowa finance authority. (Formerly SSB 3118.) Effective date: 07/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-04-10 - Signed by Governor. S.J. 809. [SF2387 Detail]
Download: Iowa-2023-SF2387-Enrolled.html
Senate
File
2387
-
Enrolled
Senate
File
2387
AN
ACT
RELATING
TO
THE
DUTIES
OF
THE
IOWA
FINANCE
AUTHORITY.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
NEW
SECTION
.
16.5E
Application
or
award
——
prohibition.
1.
The
authority
may
prohibit
a
person
from
receiving
an
award
of
financial
assistance,
or
from
being
selected
as
a
vendor
to
provide
goods
or
services
to
the
authority
in
any
of
the
following
circumstances:
a.
An
act
or
omission
by
the
person
seriously
affects
or
threatens
public
health,
public
safety,
or
the
environment.
Senate
File
2387,
p.
2
b.
The
person
is
charged
with
or
convicted
of
a
crime
involving
dishonesty.
c.
An
act
or
omission
by
the
person
indicates
a
lack
of
integrity
or
honesty.
d.
The
person
violates
the
terms
of
an
agreement
or
transaction
that
detrimentally
impacts
the
integrity
of
a
program
administered
by
the
authority,
or
other
governmental
entity
as
defined
in
section
8A.101.
e.
A
compelling
cause
exists
that
is
relevant
to
and
affects
the
person’s
obligations
under
the
programs
administered
by
the
authority,
or
is
relevant
to
and
affects
the
provision
of
goods
and
services
to
the
authority
by
a
vendor.
2.
Upon
a
determination
by
the
authority,
a
person
shall
be
prohibited
from
receiving
an
award
of
financial
assistance,
or
from
being
selected
as
a
vendor
pursuant
to
subsection
1.
The
authority
shall
provide
written
notice
to
the
prohibited
person
stating
the
reason
for
the
prohibition.
The
authority
may
immediately
disqualify
a
prohibited
person
from
receiving
financial
assistance,
or
from
being
selected
as
a
vendor.
3.
A
prohibited
person
may
request
a
review
of
the
determination
made
by
the
authority
pursuant
to
subsection
2.
a.
The
request
to
review
the
determination
shall
be
made
within
thirty-five
calendar
days
of
the
date
the
authority
provided
written
notice
to
the
prohibited
person.
The
request
to
review
the
determination
must
be
in
writing
and
state
the
specific
reasons
or
legal
basis
for
review.
b.
Within
sixty
calendar
days
of
the
receipt
of
the
request
to
review,
the
authority
shall
approve,
deny,
or
modify
the
determination,
if
the
authority
finds
that
the
determination
is
based
on
a
clear
error
of
material
fact
or
law,
or
if
the
authority
finds
the
determination
was
arbitrary,
capricious,
or
an
abuse
of
discretion.
c.
The
authority
shall
issue
its
decision
in
writing
and
provide
written
notice
of
the
decision
to
the
prohibited
person.
d.
The
decision
of
the
authority
pursuant
to
this
subsection
shall
be
considered
final
agency
action.
A
petition
for
judicial
review
of
the
decision
of
the
authority
shall
be
filed
pursuant
to
section
17A.19.
Senate
File
2387,
p.
3
4.
The
authority
shall
adopt
rules
as
necessary
pursuant
to
chapter
17A
to
administer
this
section.
Sec.
2.
Section
16.35,
subsection
2,
Code
2024,
is
amended
by
striking
the
subsection
and
inserting
in
lieu
thereof
the
following:
2.
The
authority
shall
adopt
a
qualified
allocation
plan
that
satisfies
the
requirements
of
section
42
of
the
Internal
Revenue
Code.
The
authority
may
revise
the
qualified
allocation
plan
provided
the
revision
satisfies
the
requirements
of
section
42
of
the
Internal
Revenue
Code.
When
adopting
the
qualified
allocation
plan,
the
authority
shall
specify
the
selection
criteria,
the
application
procedure,
and
the
allocation
of
low-income
housing
credits
under
the
state
housing
credit
ceiling.
The
selection
criteria
described
in
the
qualified
allocation
plan
shall
include
all
of
the
following:
a.
The
selection
criteria
described
in
section
42
of
the
Internal
Revenue
Code.
b.
The
statutory
preferences
described
in
section
42
of
the
Internal
Revenue
Code.
c.
The
economic
feasibility
of
the
proposed
project.
d.
The
ability
of
the
applicant
to
complete
the
project
in
a
timely
manner.
Sec.
3.
Section
16.35,
subsection
3,
Code
2024,
is
amended
by
striking
the
subsection.
Sec.
4.
Section
16.154,
subsection
1,
Code
2024,
is
amended
to
read
as
follows:
1.
An
eligible
entity
may
apply
to
the
authority
for
financial
assistance
under
the
program
by
submitting
a
plan
that
meets
on
an
application
form
as
required
by
the
authority.
To
be
approved
for
an
award
of
financial
assistance,
the
plan
must
meet
all
of
the
following
requirements:
a.
The
plan
includes
proposes
one
or
more
projects
that
improve
water
quality
in
the
local
area
or
watershed.
Projects
shall
use
practices
identified
in
the
Iowa
nutrient
reduction
strategy.
b.
The
plan
describes
in
detail
describes
the
manner
in
which
the
projects
will
be
financed
and
undertaken,
including,
as
applicable,
the
sources
of
revenue
directed
to
financing
Senate
File
2387,
p.
4
the
improvements
as
well
as
the
eligible
entities
that
will
be
receiving
the
revenues
and
how
such
revenues
will
be
spent
on
the
projects.
______________________________
AMY
SINCLAIR
President
of
the
Senate
______________________________
PAT
GRASSLEY
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
2387,
Ninetieth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2024
______________________________
KIM
REYNOLDS
Governor
