ARC 0104D

ARC 0104D

HIGHER EDUCATION LOAN AUTHORITY[284]

Adopted and Filed

Rulemaking related to organization and operation

    The Higher Education Loan Authority hereby rescinds Chapter 1, “Organization and Operation,” and adopts a new Chapter 1, “Organization and Operations,” Iowa Administrative Code.

Legal Authority for Rulemaking

    This rulemaking is adopted under the authority provided in Iowa Code section 261A.7.

State or Federal Law Implemented

    This rulemaking implements, in whole or in part, Iowa Code section 261A.7.

Purpose and Summary

    The Authority serves Iowa’s independent nonprofit colleges and universities by providing affordable financing of facilities and working capital through the issuance of tax-exempt debt on colleges’ and universities’ behalf. This rulemaking repromulgates Chapter 1, which contains rules related to organization and operations of the Authority.

Public Comment and Changes to Rulemaking

    Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on December 24, 2025, as ARC 9866C. Public hearings were held on the following date:

     ?   January 13, 2026

    No one attended the public hearings. No public comments were received. No changes from the Notice have been made.

Adoption of Rulemaking

    This rulemaking was adopted by the Authority on February 2, 2026.

Fiscal Impact

     This rulemaking has no fiscal impact to the State of Iowa.

Jobs Impact

    After analysis and review of this rulemaking, no impact on jobs has been found.

Waivers

    Any person who believes that the application of the discretionary provisions of this rulemaking would result in hardship or injustice to that person may petition the Authority for a waiver of the discretionary provisions, if any.

Review by Administrative Rules Review Committee

    The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rulemaking by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rulemaking at its regular monthly meeting or at a special meeting. The Committee’s meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

Effective Date

    This rulemaking will become effective on April 8, 2026.

    The following rulemaking action is adopted:

    ITEM 1.  Rescind 284—Chapter 1 and adopt the following new chapter in lieu thereof:

CHAPTER 1

ORGANIZATION AND OPERATIONS

284—1.1(261A) Organization and operations.

    1.1(1) Location. The mailing address of the authority is located at 1105 High Road, Box 214, Norwalk, Iowa 50211.

    1.1(2) The authority. The powers of the authority are vested in and exercised by the members of the authority pursuant to Iowa Code chapter 261A.

    1.1(3) Meetings.

    a.   The chairperson of the authority presides at each meeting. Members of the public may be recognized at the discretion of the chairperson. All meetings are open to the public in accordance with the open meetings law, Iowa Code chapter 21.

    b.  Public notice. The authority will give advance public notice of the specific date, time and place of each authority meeting.

    1.1(4) Minutes. The minutes of all authority meetings are recorded by the secretary and kept in the authority’s possession.

    1.1(5) Submission and requests. Inquiries, submissions, petitions, and other requests directed to the authority may be made in writing addressed to the authority’s mailing address listed in subrule 1.1(1). Any person may petition for a written or oral hearing before the authority. All requests for a hearing are in writing and state the specific subject to be discussed and the reasons why a personal appearance is necessary if one is requested.

    1.1(6) Administration of programs. The authority may adopt manuals, instructions or other statements as necessary to assist its employees in administering its programs and to permit individuals and organizations to participate in programs administered by the authority. Copies of all manuals, instructions and other statements are kept in the authority’s possession and are available for public inspection, except for those portions that are excluded from the definition of “rule” by Iowa Code section 17A.2(11)“f” or that must be kept confidential under applicable statutes or these rules. Members of the public may inspect the materials adopted pursuant to this rule, subject to the exceptions set out above, during regular business hours and may obtain a reasonable number of copies of the materials upon payment of a fee not to exceed the cost of providing copies.

This rule is intended to implement Iowa Code chapter 261A.

[Filed 2/3/26, effective 4/8/26]

[Published 3/4/26]

EDITOR’S NOTE: For replacement pages for IAC, see IAC Supplement 3/4/26.