Senate File 2387 - Enrolled
Senate File 2387
AN ACT
RELATING TO THE DUTIES OF THE IOWA FINANCE AUTHORITY.
2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 16.5E Application or award ——
2 prohibition.
3 1. The authority may prohibit a person from receiving an
4 award of financial assistance, or from being selected as a
5 vendor to provide goods or services to the authority in any of
6 the following circumstances:
7 a. An act or omission by the person seriously affects or
8 threatens public health, public safety, or the environment.
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9 b. The person is charged with or convicted of a crime
10 involving dishonesty.
11 c. An act or omission by the person indicates a lack of
12 integrity or honesty.
13 d. The person violates the terms of an agreement or
14 transaction that detrimentally impacts the integrity of a
15 program administered by the authority, or other governmental
16 entity as defined in section 8A.101.
17 e. A compelling cause exists that is relevant to and affects
18 the person’s obligations under the programs administered by the
19 authority, or is relevant to and affects the provision of goods
20 and services to the authority by a vendor.
21 2. Upon a determination by the authority, a person shall
22 be prohibited from receiving an award of financial assistance,
23 or from being selected as a vendor pursuant to subsection 1.
24 The authority shall provide written notice to the prohibited
25 person stating the reason for the prohibition. The authority
26 may immediately disqualify a prohibited person from receiving
27 financial assistance, or from being selected as a vendor.
28 3. A prohibited person may request a review of the
29 determination made by the authority pursuant to subsection 2.
30 a. The request to review the determination shall be made
31 within thirty-five calendar days of the date the authority
32 provided written notice to the prohibited person. The request
33 to review the determination must be in writing and state the
34 specific reasons or legal basis for review.
35 b. Within sixty calendar days of the receipt of the request
1 to review, the authority shall approve, deny, or modify the
2 determination, if the authority finds that the determination
3 is based on a clear error of material fact or law, or if the
4 authority finds the determination was arbitrary, capricious, or
5 an abuse of discretion.
6 c. The authority shall issue its decision in writing and
7 provide written notice of the decision to the prohibited
8 person.
9 d. The decision of the authority pursuant to this subsection
10 shall be considered final agency action. A petition for
11 judicial review of the decision of the authority shall be filed
12 pursuant to section 17A.19.
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13 4. The authority shall adopt rules as necessary pursuant to
14 chapter 17A to administer this section.
15 Sec. 2. Section 16.35, subsection 2, Code 2024, is amended
16 by striking the subsection and inserting in lieu thereof the
17 following:
18 2. The authority shall adopt a qualified allocation
19 plan that satisfies the requirements of section 42 of
20 the Internal Revenue Code. The authority may revise the
21 qualified allocation plan provided the revision satisfies the
22 requirements of section 42 of the Internal Revenue Code. When
23 adopting the qualified allocation plan, the authority shall
24 specify the selection criteria, the application procedure, and
25 the allocation of low-income housing credits under the state
26 housing credit ceiling. The selection criteria described
27 in the qualified allocation plan shall include all of the
28 following:
29 a. The selection criteria described in section 42 of the
30 Internal Revenue Code.
31 b. The statutory preferences described in section 42 of the
32 Internal Revenue Code.
33 c. The economic feasibility of the proposed project.
34 d. The ability of the applicant to complete the project in a
35 timely manner.
1 Sec. 3. Section 16.35, subsection 3, Code 2024, is amended
2 by striking the subsection.
3 Sec. 4. Section 16.154, subsection 1, Code 2024, is amended
4 to read as follows:
5 1. An eligible entity may apply to the authority for
6 financial assistance under the program by submitting a plan
7 that meets on an application form as required by the authority.
8 To be approved for an award of financial assistance, the plan
9 must meet all of the following requirements:
10 a. The plan includes proposes one or more projects that
11 improve water quality in the local area or watershed. Projects
12 shall use practices identified in the Iowa nutrient reduction
13 strategy.
14 b. The plan describes in detail describes the manner in
15 which the projects will be financed and undertaken, including,
16 as applicable, the sources of revenue directed to financing
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17 the improvements as well as the eligible entities that will be
18 receiving the revenues and how such revenues will be spent on
19 the projects.
______________________________ ______________________________
AMY SINCLAIR PAT GRASSLEY
President of the Senate 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


Statutes affected:
Introduced: 16.35, 16.154
Reprinted: 16.35, 16.154
Enrolled: 16.35, 16.154