Adopted and Filed
Red tape review, rescind chs 2, 4, 30, 32, 37, 38
ARC 9029C
IOWA FINANCE AUTHORITY[265]
Adopted and Filed
Rulemaking related to rescission of chapters
The Iowa Finance Authority hereby rescinds Chapter 2, “Loan Programs,” Chapter 4, “General Revenue Bond Procedures,” Chapter 30, “Qualified Midwestern Disaster Area Bond Allocation,” Chapter 32, “Iowa Jobs Program,” Chapter 37, “Recovery Zone Bond Allocation,” and Chapter 38, “Iowa Jobs II Program,” Iowa Administrative Code.
Legal Authority for Rulemaking
This rulemaking is adopted under the authority provided in Iowa Code sections 16.5, 16.5C, 16.38 and 16.39.
State or Federal Law Implemented
This rulemaking implements, in whole or in part, Iowa Code sections 16.4, 16.5, 16.5C, 16.38 and 16.39; 2009 Iowa Acts, Senate File 376; 2010 Iowa Acts, House File 2487; 2010 Iowa Acts, Senate File 2389; Executive Order 9 (November 7, 2008); and the federal Heartland Disaster Tax Relief Act of 2008.
Purpose and Summary
Pursuant to Executive Order 10, the Authority is permanently rescinding the following obsolete and unnecessary chapters:
●Chapter 2, which describes the policies and procedures applicable to provide origination and servicing of mortgage and temporary loans from the Authority. The chapter does not apply to any current loan programs administered by the Authority.
●Chapter 4, which describes the policies and procedures applicable to issue revenue bonds for any of the purposes for which financing is authorized under Iowa Code chapter 16. The chapter does not apply to current bond issues by the Authority.
●Chapter 30, which describes the policies and procedures that allocate authority to issue up to a specified amount of qualified midwestern disaster area bonds. The chapter is no longer applicable. The subject bonds ceased to be available in 2012.
●Chapter 32, which describes the policies and procedures applicable to the Authority’s responsibilities as to the Iowa Jobs Program. The program has been discontinued.
●Chapter 37, which describes the policies and procedures of the recovery zone bond allocation and compliance. The chapter is no longer applicable. Iowa Code section 16.171, which authorized the rules, was repealed in 2014.
●Chapter 38, which describes the policies and procedures applicable to the Authority’s responsibilities as to the Iowa Jobs II Program. The program has been discontinued.
Public Comment and Changes to Rulemaking
Notice of Intended Action for this rulemaking was published in the Iowa Administrative Bulletin on December 11, 2024, as ARC 8491C. A public hearing was held on the following date(s):
●January 7, 2025
●January 9, 2025
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 February 5, 2025.
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 April 23, 2025.
The following rulemaking action is adopted:
ITEM 1.Rescind and reserve 265—Chapter 2.
ITEM 2.Rescind and reserve 265—Chapter 4.
ITEM 3.Rescind and reserve 265—Chapter 30.
ITEM 4.Rescind and reserve 265—Chapter 32.
ITEM 5.Rescind and reserve 265—Chapter 37.
ITEM 6.Rescind and reserve 265—Chapter 38.
[Filed 2/27/25, effective 4/23/25]
[Published 3/19/25]
EDITOR’S NOTE: For replacement pages for IAC, see IAC Supplement 3/19/25.
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Official Document
- Red tape review, rescind chs 2, 4, 30, 32, 37, 38
- Published on 3/19/2025
- 2 Views
- Adopted and Filed
The official published PDF of this document is available from the Iowa General Assembly’s Administrative Rules page.
View the Iowa Administrative Bulletin for 3/19/2025.
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