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

1. Condition of allocation. As a condition of receiving the allocation of the state ceiling as provided in section 7C.4A, subsection 3 , the qualified student loan bond issuer shall comply with the provisions of this section . 2. Annual report and audit. The qualified student loa…

It is the intention of the general assembly in enacting this chapter to: 1. Implement section 146 of the Internal Revenue Code by providing a different formula for allocating the state ceiling among the various governmental units which are authorized to issue private activity bon…

For the purposes of this chapter , unless the context otherwise requires: 1. “Allocation” means that portion of the state ceiling which is allocated and certified to a political subdivision hereby or by the governor’s designee pursuant to section 7C.8 with respect to an issue of …

The aggregate principal amount of bonds which are subject to section 146 of the Internal Revenue Code which may be issued by all political subdivisions during a calendar year shall not exceed the state ceiling for that calendar year, except as provided in section 7C.8 . 85 Acts, …

For each calendar year, the state ceiling shall be allocated among bonds issued for various purposes as follows: 1. a. Thirty percent of the state ceiling shall be allocated solely to the Iowa finance authority for any of the following purposes: (1) Issuing qualified mortgage bon…

Except as provided in section 7C.4A, subsections 1 through 5 , the state ceiling shall be allocated among all political subdivisions on a statewide basis on the basis of the chronological orders of receipt by the governor’s designee of the applications described in section 7C.6 w…

A political subdivision which proposes to issue bonds for a particular project or purpose for which an allocation of the state ceiling is required and has not already been made under section 7C.4A, subsections 1 through 5 , must make an application for allocation before issuance …

Upon the receipt of a completed application pursuant to section 7C.6 , the governor’s designee shall promptly certify to the political subdivision the amount of the state ceiling allocated to the bonds for the purpose or project with respect to which the application was submitted…

It is the intention of the general assembly that the maximum use be made of all carryforward provisions in the Internal Revenue Code. Therefore, if the aggregate principal amount of bonds, subject to section 146 of the Internal Revenue Code, issued by all political subdivisions i…

If the expiration date of either the one-hundred-twenty-day period or the thirty-day extension period described in subsection 1 or 2 of section 7C.7 is a Saturday, Sunday, or any day on which the offices of the state or banking institutions in the state are authorized or required…