Notice of Intended Action
Low-income housing tax credits; senior living revolving loan program; Iowa aftercare services rent subsidy program; transitional housing revolving loan program; council on homelessness; public service shelter grant fund; Iowans helping Iowans housing assistance program, rescind chs 12, 20, 22, 23, 31, 36, 40
ARC 8233C
IOWA FINANCE AUTHORITY[265]
Notice of Intended Action
Proposing rulemaking related to rescission of chapters
and providing an opportunity for public comment
The Iowa Finance Authority hereby proposes to rescind Chapter 12, “Low-Income Housing Tax Credits,” Chapter 20, “Senior Living Revolving Loan Program,” Chapter 22, “Iowa Aftercare Services Rent Subsidy Program,” Chapter 23, “Transitional Housing Revolving Loan Program,” Chapter 31, “Council On Homelessness,” Chapter 36, “Public Service Shelter Grant Fund,” and Chapter 40, “Iowans Helping Iowans Housing Assistance Program,” Iowa Administrative Code.
Legal Authority for Rulemaking
This rulemaking is proposed under the authority provided in Iowa Code sections 16.2D, 16.5, 16.35, 16.40 and 16.48 and 2009 Iowa Acts, Senate File 376.
State or Federal Law Implemented
This rulemaking implements, in whole or in part, Iowa Code sections 16.2D, 16.35, 16.40, 16.46 and 16.48 and 2009 Iowa Acts, Senate File 376.
Purpose and Summary
Pursuant to Executive Order 10 (January 10, 2023), the Authority proposes to permanently rescind the following obsolete and unnecessary chapters:
●Chapter 12, which describes the policies applicable to low-income housing tax credits (LIHTC) administered by IFA. 2024 Iowa Acts, Senate File 2387, amended Iowa Code section 16.35 so that the Authority is no longer required to adopt rules specifying the application procedure and allowance of low-income housing tax credits. Those aspects of program administration are addressed in the qualified allocation plan (QAP) adopted by the Authority pursuant to Internal Revenue Code Section 42 and the applicable Treasury regulations.
●Chapter 20, which describes the policies and procedures applicable to the Senior Living Revolving Loan Program. The policies and procedures of the program are established pursuant to Iowa Code section 16.46, and the applicable QAP adopted by the Authority pursuant to Iowa Code section 16.35.
●Chapter 22, which describes the policies and procedures applicable to the Iowa Aftercare Services Rent Subsidy Program. The program was discontinued effective June 30, 2024.
●Chapter 23, which describes eligibility requirements and administration of the Transitional Housing Revolving Loan Program Fund. The fund assisted in the development of affordable housing for parents completing or participating in substance abuse treatment pursuant to Iowa Code section 16.48. The ongoing obligations of two loan recipients are addressed in a comprehensive loan agreement. The requirements of the program are sufficiently described in Iowa Code section 16.48 if there is interest in the fund in the future, and the Iowa Code section does not require the authority to promulgate rules.
●Chapter 31, which describes the council on homelessness and its duties. 2024 Iowa Acts, Senate File 2385, amended Iowa Code section 16.2D to eliminate the council and assign its duties to the Authority.
●Chapter 36, which describes the Public Service Shelter Grant Fund. The fund was established pursuant to 2009 Iowa Acts, Senate File 376, section 28, and discontinued in 2011.
●Chapter 40, which describes the Iowans Helping Iowans Housing Assistance Program. The program was established to provide financial assistance to eligible residents for the purpose of either repairing or rehabilitating eligible residents’ disaster-affected homes or to purchase a home. The last loan issued under this program was in 2012, and loan agreements issued under this program have expired.
Regulatory Analysis
A Regulatory Analysis for this rulemaking was published in the Iowa Administrative Bulletin on July 10, 2024. A public hearing was held on the following date(s):
●July 30, 2024
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, pursuant to 265—Chapter 18.
Public Comment
Any interested person may submit written comments concerning this proposed rulemaking. Written comments in response to this rulemaking must be received by the Authority no later than 4:30 p.m. on October 24, 2024. Comments should be directed to:
|
Lisa Connell |
Public Hearing
Public hearings at which persons may present their views orally or in writing will be held as follows:
|
October 22, 2024 |
Suite 200 |
|
October 24, 2024 |
Suite 200 |
Persons who wish to make oral comments at a public hearing may be asked to state their names for the record and to confine their remarks to the subject of this proposed rulemaking.
Any persons who intend to attend a public hearing and have special requirements, such as those related to hearing or mobility impairments, should contact the Authority and advise of specific needs.
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).
The following rulemaking action is proposed:
ITEM 1.Rescind and reserve 265—Chapter 12.
ITEM 2.Rescind and reserve 265—Chapter 20.
ITEM 3.Rescind and reserve 265—Chapter 22.
ITEM 4.Rescind and reserve 265—Chapter 23.
ITEM 5.Rescind and reserve 265—Chapter 31.
ITEM 6.Rescind and reserve 265—Chapter 36.
ITEM 7.Rescind and reserve 265—Chapter 40.
Iowa Finance Authority
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- Suite 200
- Des Moines, IA 50315
- (515) 452-0400
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Closed For Comments
This notice is now closed for comments. Collection of comments closed on 10/24/2024.
Official Document
- Low-income housing tax credits; senior living revolving loan program; Iowa aftercare services rent subsidy program; transitional housing revolving loan program; council on homelessness; public service shelter grant fund; Iowans helping Iowans housing assistance program, rescind chs 12, 20, 22, 23, 31, 36, 40
- Published on 10/2/2024
- 150 Views , 0 Comments
- Notice of Intended Action
The official published PDF of this document is available from the Iowa General Assembly’s Administrative Rules page.
View the Iowa Administrative Bulletin for 10/2/2024.
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