Title I, STATE SOVEREIGNTY AND MANAGEMENT (Ch. 1 - 38D)

1. Moneys declared by the authority to be surplus moneys which are not required to service bonds and notes issued by the authority, to pay administrative expenses of the authority, or to accumulate necessary operating or loss reserves, shall be used by the authority to provide gr…

As used in this subchapter , unless the context otherwise requires, “state housing credit ceiling” means the state housing credit ceiling as defined in Internal Revenue Code §42(h)(3)(C) . 2014 Acts, ch 1080, §35, 78

1. The authority is designated the housing credit agency for the allowance of low-income housing credits under the state housing credit ceiling. 2. The authority shall adopt a qualified allocation plan that satisfies the requirements of section 42 of the Internal Revenue Code . T…

The authority shall participate in the housing assistance payments program under section 8 of the United States Housing Act of 1937 , as amended by §201 of the Housing and Community Development Act of 1974 , Pub. L. No. 93-383 , codified at 42 U.S.C. §1437 et seq. 2014 Acts, ch 1…

1. The authority may make, and contract to make, loans to lending institutions on terms and conditions as the authority determines are reasonably related to protecting the security of the authority’s investment and to implementing the purposes of this chapter , and subject to thi…

1. The authority may purchase, and make advance commitments to purchase, mortgage loans from lending institutions at prices and upon terms and conditions as the authority determines subject to this section . However, the total purchase price for all mortgage loans which the autho…

In the performance of its duties and implementation of its powers, and in the selection of specific programs and projects to receive its assistance, the authority shall be guided by the following precatory principles: 1. The authority shall not become an owner of real property co…

1. A housing assistance fund is created within the authority. The moneys in the fund shall be used by the authority to protect, preserve, create, and improve access to safe and affordable housing. The authority shall establish programs utilizing the fund by administrative rules a…

1. A shelter assistance fund is created as a revolving fund in the state treasury under the control of the authority consisting of any moneys appropriated by the general assembly and received under section 428A.8 for costs of operations of shelters for the homeless and domestic v…

1. A manufactured housing program fund is created within the authority to further the goal of providing affordable housing to Iowans. The moneys in the fund are to be used for the purpose of providing funding to financial institutions or other lenders to finance the purchase by a…

1. A senior living revolving loan program fund is created within the authority. The moneys in the senior living revolving loan program fund shall be used by the authority for the development and operation of a revolving loan program to provide financing to construct affordable as…

1. A home and community-based services revolving loan program fund is created within the authority to further the goals specified in section 231.3 , adult day services, case management services, options counseling, family caregiving, homemaker services, respite services, congrega…

1. A transitional housing revolving loan program fund is created within the authority to further the availability of affordable housing for parents that are reuniting with their children while completing or participating in substance use disorder treatment. The moneys in the fund…

1. A community housing and services for persons with disabilities revolving loan program fund is created within the authority to further the availability of affordable housing and supportive services for Medicaid waiver-eligible individuals with behaviors that provide significant…

The general assembly finds and declares all of the following: 1. There exists a serious problem in this state regarding the ability of nonestablished farmers to acquire agricultural land and agricultural improvements and depreciable agricultural property in order to enter farming…

In the performance of its duties, implementation of its powers, and the selection of specific programs and projects to receive its assistance under subchapter VIII , the authority shall be guided by the following precatory principles: 1. The authority shall not become an owner of…

The general assembly finds and declares that the abstract attorney’s title opinion system promotes land title stability for determining the marketability of land titles and is a public purpose. A public purpose is served by providing, as an adjunct to the abstract attorney’s titl…

The general assembly finds and declares all of the following: 1. Economic development and expansion of business, industry, and farming in the state is dependent upon the availability of financing of the development and expansion at affordable interest rates. 2. The pooling of pri…

1. The authority has any and all powers necessary and convenient to carry out its purposes and duties, and exercise its specific powers, including but not limited to the power to: a. Issue its negotiable bonds and notes as provided in this chapter in order to finance its programs…

1. A workforce housing assistance grant fund is created under the control of the authority. The fund shall consist of appropriations made to the fund. The fund shall be separate from the general fund of the state and the balance in the fund shall not be considered part of the bal…

1. The authority may enter into a loan agreement with a housing sponsor to finance in whole or in part the acquisition of housing by construction or purchase. The repayment obligation of the housing sponsor may be unsecured, secured by a mortgage or security agreement, or secured…

The authority may develop a model reverse annuity mortgage conforming to the requirements of this chapter , and may offer reverse annuity mortgages to qualified participants. 89 Acts, ch 267, §10 CS89, §220.53 C93, §16.53 2007 Acts, ch 54, §25 Iowa finance authority authorized to…

1. For the purposes of this section , “eligible member of the armed forces of the United States” or “eligible service member” means a person who is or was, if discharged under honorable conditions, a member of the national guard, or a reserve or regular component of the armed for…

The authority shall establish and administer a home and community-based services rent subsidy program. Under the program, the authority shall provide rent subsidies to those persons who are approved participants under a home and community-based services Medicaid waiver, and to th…

1. As used in this section , unless the context otherwise requires: a. “Disaster-affected home” means a primary residence that was destroyed or damaged due to a natural disaster occurring after May 24, 2008, and before August 14, 2008. b. “Local government participant” means the …

1. The authority may issue its bonds and notes and loan the proceeds of the bonds or notes to a nonprofit corporation for the purpose of financing the acquisition or construction of residential housing or treatment facilities serving juveniles or persons with disabilities. 2. The…

1. Notwithstanding any other provision of law to the contrary, the authority may transfer any unobligated and unencumbered moneys in any revolving loan program fund created pursuant to section 16.46 , 16.47 , 16.48 , or 16.49 , for deposit in the disaster recovery housing assista…

1. Definitions. As used in this section , unless the context otherwise requires: a. “Disaster-affected home” means a primary residence that is destroyed or damaged due to a natural disaster that occurs on or after June 16, 2021, and the primary residence is located in a county th…

1. a. “Eligible renter” means a renter whose income meets the qualifications of the program, who is at risk of eviction, and who resides in a county that is the subject of a state of disaster emergency proclamation by the governor that authorizes the eviction prevention program. …

The authority shall adopt rules pursuant to chapter 17A to implement and administer this part , including rules to do all of the following: 1. Establish the maximum loan, forgivable loan, and grant amounts awarded under the program. 2. Establish the terms of any loan or forgivabl…

As used in this subchapter , unless the context otherwise requires: 1. “Agricultural assets” means agricultural land, agricultural improvements, depreciable agricultural property, crops, or livestock. 2. “Agricultural improvement” means any improvements, including buildings, stru…

To receive financing as provided in this subchapter , an individual, partnership, family farm corporation, or family farm limited liability company shall meet the applicable low or moderate net worth requirements established in this section . The requirement that applies to each …

In addition to the general powers of the authority, the authority shall have all powers convenient and necessary to carry out its programs, including but not limited to the power to: 1. Make property improvement loans and mortgage loans, including but not limited to mortgage loan…

The authority has all of the general and specific powers needed to carry out its purposes and duties as provided in this subchapter and to exercise its specific powers under subchapter VIII . 2014 Acts, ch 1080, §20, 78

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 publi…

1. The duties of the authority under this section shall include but are not limited to the following: a. Develop a process for evaluating state policies, programs, statutes, and rules to determine whether any state policies, programs, statutes, or rules should be revised to help …

1. The director of the economic development authority shall also serve as the director of, and administer the operations of, the authority pursuant to section 15.106C, subsection 1 , paragraph “b” . The director shall not, directly or indirectly, exert influence to induce any oth…

Programs authorized in this subchapter may be combined with any other programs authorized in this chapter or any other public or private programs. 2014 Acts, ch 1080, §50, 78

The authority shall make application to and receive from the United States secretary of agriculture, or any other proper federal official, pursuant and subject to the provisions of Pub. L. No. 81-499, 64 Stat. 152 (1950) , formerly codified at 40 U.S.C. §440 et seq. (1976) , all …

The authority may enter into agreements with the United States secretary of agriculture pursuant to Pub. L. No. 81-499 §2(f) (1950) upon terms and conditions and for periods of time as mutually agreeable, authorizing the authority to accept, administer, expend, and use in the sta…

1. The authority shall publish a notice of intention to issue bonds or notes. After sixty days from the date of publication of the notice, an action shall not be brought questioning the legality of any bonds or notes or the power of the authority to issue any bonds or notes or to…

1. The authority shall submit to the governor and to the general assembly, not later than January 15 each year, an annual report. 2. The annual report shall contain at least three parts which include all of the following: a. A general description of the authority setting forth: (…

1. The authority may make and contract to make loans to lending institutions on terms and conditions the authority determines are reasonably related to protecting the security of the authority’s investment and to implementing the purposes of this subchapter . Lending institutions…

1. The authority may purchase and make advance commitments to purchase mortgage or secured loans from lending institutions at prices and upon terms and conditions as the authority determines. However, the total purchase price for all mortgage or secured loans which the authority …

1. The authority shall develop a beginning farmer loan program to facilitate the acquisition of agricultural land and improvements and depreciable agricultural property by beginning farmers. The authority shall exercise the powers granted to the authority in this chapter in order…

1. As used in this section , “loan” includes but is not limited to mortgage or secured loans; loans insured, guaranteed, or otherwise secured by the federal government or a federal governmental agency or instrumentality, or a state agency or private mortgage insurers; and financi…