ARC 4028C

ARC 4028C

IOWA FINANCE AUTHORITY[265]

Notice of Intended Action

Proposing rule making related to military service member home ownership assistance program and providing an opportunity for public comment

The Iowa Finance Authority hereby proposes to amend Chapter 27, "Military Service Member Home Ownership Assistance Program," Iowa Administrative Code.

Legal Authority for Rule Making

This rule making is proposed under the authority provided in Iowa Code section 16.5.

State or Federal Law Implemented

This rule making implements, in whole or in part, Iowa Code section 16.54 and 2018 Iowa Acts, House File 2480, section 2.

Purpose and Summary

This proposed rule making amends Chapter 27 by adding the definition of "manufactured home" and amending the definition of "qualified home" to exclude requirements that the manufactured home be attached to a permanent foundation and be taxed as real estate.

Fiscal Impact

This rule making has no fiscal impact to the State of Iowa.

Jobs Impact

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

Waivers

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

Public Comment

Any interested person may submit written or oral comments concerning this proposed rule making. Written or oral comments in response to this rule making must be received by the Authority no later than 4:30 p.m. on October 16, 2018. Comments should be directed to:

Public Hearing

No public hearing is scheduled at this time. As provided in Iowa Code section 17A.4(1)"b," an oral presentation regarding this rule making may be demanded by 25 interested persons, a governmental subdivision, the Administrative Rules Review Committee, an agency, or an association having 25 or more members.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rule making by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rule making 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).

The following rule-making actions are proposed:

Item 1. Adopt the following new definition of "Manufactured home" in rule 265—27.2(16):

"Manufactured home" means the same as defined in Iowa Code section 435.1.

Item 2. Amend rule 265—27.2(16), definition of "Qualified home," as follows:

"Qualified home" means a home located in the state of Iowa that an eligible service member purchases, occupies, and uses as the service member's primary residence. The home must fall into one of the following categories:

1.Single-family residence, including "stick-built" homes, modular homes, or manufactured homes, provided the home is attached to a permanent foundation and is taxed as real estate;

2.Condominium;

3.Townhome;

4.A property containing two to four residential units, where one unit is to be occupied by the eligible service member as the service member's primary residence.