Dems: Economic Growth – week of Feb. 29, 2016

March 5, 2016
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SF 2229 – Nuisance Fund/Community Building Remediation

SF 2257 – Iowa Finance Authority bonds

SF 2277 – Motor oil franchise agreement

 

FLOOR ACTION:

SF 2229 creates a new fund under the administration of the Iowa Economic Development Authority called the Community Catalyst Building Remediation Fund. The fund will provide grants to cities for the remediation of underused buildings. The Authority must dedicate 40 percent of the funds available at the beginning of each fiscal year to cities with populations of less than 1,500. If, at the end of each application period, this allocation is not fully used by cities with a population of less than 1,500, the balance may be awarded to any approved applicant regardless of the population. The grant requires a local match, which can include an in-kind match. The Authority and city must develop a plan for the funds consistent with the community development, housing and economic development goals of the city.

[3/2: 48-0 (Johnson and Rozenboom “no”)]

 

SF 2257 gives the Iowa Finance Authority the ability to issue bonds for entities with locations in Iowa and other states that want to use the bonds for projects in Iowa and outside of Iowa. The entities are nonprofit and the bonds are tax-exempt. These are conduit bonds, not debt of the state or of the Iowa Finance Authority.

[2/29: 48-0 (Bertrand, Dix excused]

 

SF 2277 relates to the sources of goods or services under a franchise agreement. The bill limits the ability of a franchisor to prescribe specifications and standards regarding the purchase of goods or services to specifications and standards that are customary and reasonable. A franchisor cannot designate a source for a franchisee’s purchase of motor oil labeled in accordance with the requirements of the American Petroleum Institute.

[2/25: 48-0 (Dix, Sinclair excused)]

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