Signed by Governor Chet Culver

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the issuance of bonds and allocates the money made to various job creation programs and construction projects.

Highlights:

-Authorizes the treasurer of the state to issue and sell bonds to provide up to $545 million from net proceeds to provide for certain infrastructure projects and for the Iowa Jobs Program (Sec. 1). -Creates a revenue bonds capitals fund to receive the net proceeds from the issued revenue bonds (Sec. 2). -Creates a revenue bonds debt service fund to make all payments concerning bonds issued and sold (Sec. 3). -Creates an Iowa jobs board of eleven members for administrative purposes within the Iowa finance authority. The executive director of the finance authority shall provide staff assistance and necessary supplies and equipment for the board, and budget funds received to operate the program. (Sec. 5) -Creates an Iowa jobs program to assist in the development and completion of public construction projects concerning disaster relief and mitigation and local infrastructure (Sec. 8). -Creates an Iowa jobs restricted capitals fund, from which money is appropriated to the I-Jobs Board for the I-JOBS Program (Sec. 10).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the state to issue bonds for money for projects in Iowa that are intended to promote economic growth. It is intended to fund projects such as transportation development, public buildings, disaster recovery and prevention, wastewater and water improvements and initiatives on housing, energy, and broadband access.

Highlights:

-Authorizes the treasurer of state to issue and sell bonds to provide up to $545 million from net proceeds to provide for certain infrastructure projects and for the Iowa Jobs Program (Sec. 1). -Creates a revenue bonds capitals fund to receive the net proceeds from the issued revenue bonds (Sec. 2). -Creates a revenue bonds debt service to receive the money to pay the debt service on revenue bonds (Sec. 3). -Describes intent of the general assembly that a pledge made concerning the bonds is valid and binding from the time the pledge is made (Sec. 4). -Creates an Iowa jobs board of eleven members for administrative purposes within the Iowa finance authority. The executive director of the finance authority shall provide staff assistance and necessary supplies and equipment for the board, and budget funds received to operate the program (Sec. 5). -Creates an Iowa jobs program to assist in the development and completion of public construction projects concerning disaster relief and mitigation and local infrastructure (Sec. 8). -Creates an Iowa jobs restricted capitals fund, from which money is appropriated to the I-Jobs Board for the I-JOBS Program (Sec. 10).

Full Bill Text

Highlights:

-Authorizes the treasurer of state to issue and sell bonds to provide up to $545 million from net proceeds to provide for certain infrastructure projects and for the Iowa Jobs Program (Sec. 1). -Creates a revenue bonds capitals fund to receive the net proceeds from the issued revenue bonds (Sec. 2). -Creates a revenue bonds debt service to receive the money to pay the debt service on revenue bonds (Sec. 3). -Describes intent of the general assembly that a pledge made concerning the bonds is valid and binding from the time the pledge is made (Sec. 4). -Creates an Iowa jobs board of eleven members for administrative purposes within the Iowa finance authority. The executive director of the finance authority shall provide staff assistance and necessary supplies and equipment for the board, and budget funds received to operate the program (Sec. 5). -Creates an Iowa jobs program to assist in the development and completion of public construction projects concerning disaster relief and mitigation and local infrastructure (Sec. 8). -Creates an Iowa jobs restricted capitals fund, from which money is appropriated to the I-Jobs Board for the I-JOBS Program (Sec. 10).

Full Bill Text