HF 2258 — A bill for an act relating to the uses of remitted sales tax revenue and moneys from the flood mitigation fund under the flood mitigation program and including applicability provisions. (Formerly HSB 510.) Effective 7-1-18.

House File 2258 - IntroducedEnrolled HOUSEHouse FILEFile 2258 BYAN COMMITTEEACT ONRELATING LOCAL GOVERNMENT (SUCCESSOR TO HSBTHE 510)USES AOF BILLREMITTED FORSALES AnTAX ActREVENUE relatingAND toMONEYS theFROM usesTHE ofFLOOD remittedMITIGATION salesFUND taxUNDER revenueTHE andFLOOD moneysMITIGATION fromPROGRAM theAND floodINCLUDING mitigationAPPLICABILITY fundPROVISIONS. under the flood mitigation program and including applicability provisions.

TLSBSection 5463HV1. (1) 87 md/rj H.F.

2258 Section 1.

Sales tax revenue remitted by the department of revenue to a governmental entity under section 418.12 or financial assistance received by a governmental entity pursuant to section 418.10 shall be deposited in the governmental entity’s flood project fund created for purposes of this chapter and shall be used to fund the costs of the governmental entity’s approved project, to reimburse the governmental entity for thefunds costsadvanced ofinternally theor approvedto projecthelp make payments on bonds incurred afterto thepay project’sfor approval,approved projects, and to pay principal and interest on bonds issued pursuant to section 418.14, if applicable.

This Act applies to the expenditure of funds from a flood project fund for projects approved by the floodHouse mitigationFile board2258, before,p. on, or after the effective date of this Act.

EXPLANATION2 Theflood inclusionmitigation ofboard thisbefore, explanationon, doesor notafter constitute agreement with the explanation’seffective substancedate by the members of thethis generalAct. assembly.

The______________________________ flood______________________________ mitigationLINDA programUPMEYER establishedCHARLES underSCHNEIDER CodeSpeaker chapterof 418the authorizesHouse specifiedPresident governmentalof entitiesthe toSenate seekI approvalhereby ofcertify floodthat protectionthis projectsbill andoriginated in the useHouse ofand certainis salesknown taxas incrementHouse revenuesFile or2258, moneysEighty-seventh fromGeneral theAssembly. flood mitigation fund.

Revenue______________________________ andCARMINE moneysBOAL receivedChief byClerk theof governmental entity for approved projects are required to be deposited in the governmentalHouse entity’sApproved flood_______________, project2018 fund______________________________ toKIM fundREYNOLDS theGovernor costs of the approved project.

This bill adds the reimbursement to the governmental entity of costs of the approved project incurred after the project’s approval to the list of authorized expenditures from the governmental entity’s flood project fund.

The bill applies to the expenditure of funds from a flood project fund for projects approved by the flood mitigation board before, on, or after the effective date of the bill.

LSB 5463HV (1) 87 -1- md/rj 1/1