Bill Text: IA SSB1022 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A study bill for an act relating to the transfer of moneys to a fund established by the economic development authority and including effective date and retroactive applicability provisions.
Spectrum: Unknown
Status: (N/A - Dead) 2013-01-16 - Economic Growth: Danielson Chair,Dotzler, and Chelgren. [SSB1022 Detail]
Download: Iowa-2013-SSB1022-Introduced.html
Senate
Study
Bill
1022
-
Introduced
SENATE/HOUSE
FILE
_____
BY
(PROPOSED
ECONOMIC
DEVELOPMENT
AUTHORITY
BILL)
A
BILL
FOR
An
Act
relating
to
the
transfer
of
moneys
to
a
fund
established
1
by
the
economic
development
authority
and
including
2
effective
date
and
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
2009
Iowa
Acts,
chapter
179,
section
7,
is
1
amended
by
adding
the
following
new
subsection:
2
NEW
SUBSECTION
.
4.
Notwithstanding
subsection
3,
loan
3
payments
or
repayments
and
recaptures
of
principal,
interest,
4
or
other
moneys
accruing
to
the
economic
development
authority
5
pursuant
to
an
economic
development
agreement
under
a
program
6
funded
using
moneys
appropriated
in
2009
Acts,
chapter
176,
7
from
the
federal
economic
stimulus
and
jobs
holding
account
8
shall
be
transferred
to
a
fund
established
by
the
authority
in
9
the
state
treasury
under
the
control
of
the
authority
pursuant
10
to
section
15.106A,
subsection
1,
paragraph
“o”.
11
Sec.
2.
2011
Iowa
Acts,
chapter
133,
is
amended
by
adding
12
the
following
new
section:
13
SEC.
13A.
TRANSITION
UPON
REPEAL.
14
1.
Upon
repeal
of
chapter
15G,
subchapter
I,
the
authority
15
shall
transfer
all
unencumbered
and
unobligated
moneys
accruing
16
to
the
authority
pursuant
to
an
agreement
under
chapter
15G,
17
subchapter
I,
to
a
fund
established
by
the
authority
in
the
18
state
treasury
under
the
control
of
the
authority
pursuant
to
19
section
15.106A,
subsection
1,
paragraph
“o”.
20
2.
Loan
payments
or
repayments
and
recaptures
of
principal,
21
interest,
or
other
moneys
accruing
to
the
authority
on
or
after
22
June
30,
2012,
pursuant
to
an
agreement
under
chapter
15G,
23
subchapter
I,
shall
be
transferred
to
a
fund
established
by
24
the
authority
in
the
state
treasury
under
the
control
of
the
25
authority
pursuant
to
section
15.106A,
subsection
1,
paragraph
26
“o”.
27
Sec.
3.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
28
immediate
importance,
takes
effect
upon
enactment.
29
Sec.
4.
RETROACTIVE
APPLICABILITY.
The
section
of
this
Act
30
amending
2009
Acts,
chapter
179,
applies
retroactively
to
May
31
26,
2009.
32
Sec.
5.
RETROACTIVE
APPLICABILITY.
The
section
of
this
Act
33
amending
2011
Acts,
chapter
133,
applies
retroactively
to
July
34
1,
2011.
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EXPLANATION
1
This
bill
relates
to
the
transfer
of
moneys
to
a
fund
2
established
in
the
state
treasury
by
the
economic
development
3
authority
under
the
control
of
the
authority.
4
The
bill
allows
the
economic
development
authority
to
5
transfer
loan
payments
or
repayments
and
recaptures
of
6
principal,
interest,
or
other
moneys
accruing
pursuant
to
an
7
economic
development
agreement
under
a
program
funded
using
8
moneys
from
the
federal
economic
stimulus
and
jobs
holding
9
account
into
a
fund
established
by
the
economic
development
10
authority.
11
The
bill
also
allows
the
economic
development
authority
12
to
transfer
all
unencumbered
and
unobligated
moneys
as
well
13
as
loan
payments
or
repayments
and
recaptures
of
principal,
14
interest,
or
other
moneys
accruing
from
an
agreement
entered
15
into
under
the
grow
Iowa
values
fund
to
a
fund
established
16
by
the
economic
development
authority.
The
grow
Iowa
values
17
program
and
fund
were
repealed
effective
June
30,
2012.
18
The
bill
takes
effect
upon
enactment.
The
provision
of
the
19
bill
allowing
the
transfer
of
moneys
from
the
federal
economic
20
stimulus
and
jobs
holding
account
applies
retroactively
to
May
21
26,
2009.
The
provision
of
the
bill
allowing
the
transfer
of
22
grow
Iowa
values
fund
moneys
applies
retroactively
to
July
1,
23
2011.
24
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