ARC 4265C

ARC 4265C

IOWA FINANCE AUTHORITY[265]

Adopted and Filed

Rule making related to military service member home ownership assistance program

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

Legal Authority for Rule Making

This rule making is adopted 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.

Purpose and Summary

This 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.

Public Comment and Changes to Rule Making

Notice of Intended Action for this rule making was published in the Iowa Administrative Bulletin on September 26, 2018, as ARC 4028C. No public comments were received. No changes from the Notice have been made.

Adoption of Rule Making

This rule making was adopted by the Authority on January 9, 2019.

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.

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).

Effective Date

This rule making will become effective on March 6, 2019.

The following rule-making actions are adopted:

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.

[Filed 1/10/19, effective 3/6/19]

[Published 1/30/19]

Editor's Note: For replacement pages for IAC, see IAC Supplement 1/30/19.