Iowa Code 15F.107 – Enhance Iowa fund
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1. a. The authority shall establish a fund pursuant to section 15.106A, subsection 1, paragraph “o”, for purposes of allocating moneys to programs specified in an appropriation made to the enhance Iowa fund. A fund established for purposes of this section may be administered as a revolving fund and may consist of any moneys appropriated by the general assembly for purposes of this section.
b. Notwithstanding section 8.33, at the end of each fiscal year moneys in a fund established for purposes of this section shall not revert to any other fund but shall remain in the fund for expenditure for subsequent fiscal years.
c. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund. Repayments and recaptures of program moneys shall be credited to the fund.
Terms Used In Iowa Code 15F.107
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Authority: means the economic development authority created in section 15. See Iowa Code 15F.101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- year: means twelve consecutive months. See Iowa Code 4.1
2. The authority shall submit a report to the general assembly and the governor’s office each year that moneys are appropriated to the fund established in this section describing the use of moneys and the results achieved under each of the programs receiving fund moneys.