Iowa Code 327J.2 – Passenger rail service revolving fund
Current as of: 2023 | Check for updates
|
Other versions
1.
Fund created.
The passenger rail service revolving fund is established as a separate fund in the state treasury under the control of the department. Moneys deposited in the fund shall be administered by the director and shall be used to pay the costs associated with the initiation, operation, and maintenance of passenger rail service.
Terms Used In Iowa Code 327J.2
- Department: means the state department of transportation. See Iowa Code 327J.1
- Director: means the director of transportation. See Iowa Code 327J.1
- 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.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Fund: means the passenger rail service revolving fund created under section 327J. See Iowa Code 327J.1
- Passenger rail service: means long-distance, intercity, and commuter passenger transportation, including the midwest regional rail system, which is provided on railroad tracks. See Iowa Code 327J.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2.
Funding.
To achieve the purposes of this chapter, moneys shall be credited to the passenger rail service revolving fund by the treasurer of state from the following sources:
a. Appropriations made by the general assembly.
b. Private grants and gifts intended for these purposes.
c. Federal, state, and local grants and loans intended for these purposes.
3.
No reversion.
Notwithstanding section 8.33, any balance in the fund on June 30 of any fiscal year shall not revert to the fund from which it was appropriated.