Signed by Governor Chet Culver

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that establishes the Appropriation Bonds Capitals Fund, authorizes the Treasurer of State to issue appropriation bonds, and appropriates $105 million from these bonds for infrastructure projects.

Highlights:

-Authorizes the treasurer of state to issue and sell annual appropriation bonds to generate funds for infrastructure projects (Sec. 1). -Allows up to $105 million from the selling of appropriation bonds to fund alternative energy projects and the Vertical Infrastructure Restricted Capitals Fund (Sec. 1). -Allows appropriation bonds to be exempt from State taxes (Sec. 1). -Defines vertical infrastructure as land acquisition and construction, major renovation, and major repair of buildings, all appurtenant structures, utilities, and site development (Sec. 5). -Excludes routine, recurring maintenance, debt service, or operational expenses for the leasing of a building, appurtenant structure, or utility without a lease-purchase agreement from the Vertical infrastructure (Sec. 5). -Sets aside funds appropriated from bonds for energy projects to encourage the development of alternative energy production facilities and small hydro facilities (Sec. 6).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes the Appropriation Bonds Capitals Fund, authorizes the Treasurer of State to issue appropriation bonds, and appropriates $105 million from these bonds for infrastructure projects.

Highlights:

-Authorizes the treasurer of state to issue and sell annual appropriation bonds to generate funds for infrastructure projects (Sec. 1). -Allows up to $105 million from the selling of appropriation bonds to fund alternative energy projects and the Vertical Infrastructure Restricted Capitals Fund. (Sec. 1) -Exempts appropriation bonds from State taxes (Sec. 1). -Defines vertical infrastructure as land acquisition and construction, major renovation, and major repair of buildings, all appurtenant structures, utilities, and site development (Sec. 5). -Excludes routine, recurring maintenance, debt service, or operational expenses for the leasing of a building, appurtenant structure, or utility without a lease-purchase agreement from the Vertical infrastructure (Sec. 5). -Sets aside funds appropriated from bonds for energy projects to encourage the development of alternative energy production facilities and small hydro facilities (Sec. 6).

Full Bill Text