Adopted and Filed

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

Untitled document

ARC 8902C

IOWA FINANCE AUTHORITY[265]

Adopted and Filed

Rulemaking related to rescission of chapters

The Iowa Finance Authority hereby rescinds 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 adopted 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 is permanently rescinding the following obsolete and unnecessary chapters:

●Chapter 12, which describesthepolicies applicable to the low-income housing taxcredit (LIHTC) administered by the Authority. 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 LIHTC. 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 totheSenior 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 use disorder treatment pursuant to Iowa Code section 16.48. Theongoing obligations of twoloanrecipientsare addressedin acomprehensive 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.

Public Comment and Changes to Rulemaking

Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on October 2, 2024, as ARC 8233C. A public hearing was held on the following date(s):

●October 22, 2024

●October 24, 2024

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 Board on December 11, 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.

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 March 26, 2025.

The following rulemaking action is adopted:

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.

[Filed 1/27/25, effective 3/26/25]

[Published 2/19/25]

EDITOR’S NOTE: For replacement pages for IAC, see IAC Supplement 2/19/25.

Iowa Finance Authority

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 2/19/2025
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  • Adopted and Filed

The official published PDF of this document is available from the Iowa General Assembly’s Administrative Rules page.

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View the Iowa Administrative Bulletin for 2/19/2025.

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