Proyectos de ley › 89.ª Asamblea General
Dónde está ahora
- Hecho: Presentado14 de enero de 2021
- Hecho: Subcomité14 de enero de 2021
- Hecho: Comité del Senado27 de enero de 2021
- Se saltó: Lo aprueba el SenadoSigue como SF 181
- Sigue: Comité de la Cámara
- Sigue: Lo aprueba la Cámara
- Sigue: A gobernador(a)
- Sigue: Firmado como ley
Ahora es SF 181 → Sigue avanzando con el número nuevo. Ir a SF 181 ¿Qué es el embudo (funnel)?
Qué contiene
La explicación oficial está en inglés; todavía no hay resumen en palabras sencillas.
This bill provides that moneys appropriated to the veterans affairs commission from the veterans trust fund in a fiscal year that remain unobligated or unexpended at the close of the fiscal year shall not revert to the trust fund but shall be appropriated to the Iowa finance authority to provide grants to veterans to participate in the home ownership assistance program established under Code section 16.54.
Senate subcommittee
Named January 14, 2021. On January 21, 2021 it recommended passage.
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Nota fiscal
Resumen con IA This bill directs any leftover money from the Veterans Trust Fund to be used for the Veterans Home Ownership Assistance Program in the following year. It is estimated to result in an appropriation of $968,000 to the program in fiscal year 2022. For fiscal year 2023 and years thereafter, an estimated $205,000 could be appropriated to the program, though future amounts are difficult to estimate due to varying interest earnings. (en inglés)2
Lea la nota fiscal (en inglés)
Description
Senate File 181 amends the Veterans Trust Fund (VTF) to annually appropriate any unobligated or unexpended funds from the spendable portion of the VTF at the end of the fiscal year to the Iowa Finance Authority for the Veterans Home Ownership Assistance Program in the succeeding fiscal year.
Background
The Veterans Home Ownership Program provides a $5,000 grant to a service member for a down payment and closing costs toward the purchase of a new home in the State of Iowa. Iowa Code section 35A.13(4)(a) appropriates $500,000 from the Lottery Fund transfer of $2.5 million to the VTF, and any interest earned on the VTF is appropriated to the Veterans Affairs Commission for services specified in Iowa Code section 35A.13(6). The appropriation requires that funds unexpended or unobligated at the end of the fiscal year revert to the VTF.
Assumptions
- The full amount of the lottery transfer is spent annually on services. Once that amount is spent, the Commission then spends the interest earned.
- Monthly reports and the State Accounting System indicate that the interest has not reverted to the principal of the VTF and has remained in the spendable portion of the Fund to be spent on awards in succeeding fiscal years. Approximately $1.0 million in interest income was brought forward into FY 2020.
- The VTF has earned approximately $46,000 in interest income through the first seven months of FY 2021. There will likely be another $33,000 earned by the end of FY 2021. The average interest earned during the prior three fiscal years is approximately $500,000 per year.
Fiscal Impact
Senate File 181 will result in the appropriation of an estimated $968,000 from the VTF to the Veterans Home Ownership Assistance Program in FY 2022.
Due to the variability of interest earned on the VTF, and the practice of retaining interest earned each fiscal year, increasing the spending power from the VTF, estimating a future appropriation to the Home Ownership Assistance Program is difficult. For FY 2023 and years thereafter, based on four-year averages of spending and interest, an estimated $205,000 could be appropriated to the Veterans Home Ownership Assistant Program.
Sources
- Department of Veterans Affairs
- LSA analysis and calculations
- Veterans Trust Fund, Home Ownership Assistance · 2 de febrero de 2021 · $968,000
Lo que cambia del Código de Iowa (Iowa Code)
Modifica§35A.13
Cabildeo
2 a favor · 5 en contra · 8 indecisos · Quiénes →
Family tree
Tried before
Study bill
89th General Assembly
Earlier and later bills are matched by wording or an identical title.
Tried before
This idea has been filed in an earlier General Assembly. None got through a chamber.
- SF 2307 Relating to the home ownership assistance program, and making an appropriation88th General Assembly · Renumbered as SF 2399 · same titleCleared committee
Matched by wording or an identical title.