418.1 Definitions. For purposes of this chapter, unless the context otherwise requires: 1. “Base year” means the fiscal year ending during the calendar year in which the governmental entity’s project is approved by the board under section 418.9. 2. “Board” means the flood mitigation board as created in section 418.5. 3. “Department” means the department […]
418.10 Flood mitigation fund. 1. A flood mitigation fund is created as a separate and distinct fund in the state treasury under the control of the board and consists of moneys appropriated by the general assembly and any other moneys available to and obtained or accepted by the board for placement in the fund. Moneys […]
418.11 Sales tax increment calculation. 1. The department of revenue shall calculate quarterly the amount of increased sales tax revenues for each governmental entity approved to use sales tax increment revenues and the amount of such revenues to be transferred to the sales tax increment fund pursuant to section 423.2A, subsection 2. 2. The department […]
418.12 Sales tax increment fund. 1. A sales tax increment fund is established as a separate and distinct fund in the state treasury under the control of the department of revenue consisting of the amount of the increased state sales and services tax revenues collected by the department of revenue within each applicable area specified […]
418.13 Flood project fund. 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 […]
418.14 Bond issuance. 1. a. A governmental entity receiving sales tax revenues pursuant to this chapter is authorized to issue bonds that are payable from revenues deposited in the governmental entity’s flood project fund created pursuant to section 418.13 for the purpose of funding a project in the area from which sales tax revenues will […]
418.15 Durational limitation on use of revenues — property disposition. 1. a. A governmental entity shall not receive remittances of sales tax revenue under this chapter after twenty years from the date the governmental entity’s project was approved by the board or after expiration of the additional period of years if approved under paragraph “b” […]
418.16 Flood recovery fund. 1. A flood recovery fund is established in the state treasury under the control of the board. The fund shall consist of moneys appropriated to the fund by the general assembly and any other moneys available to, obtained by, or accepted by the board for deposit in the fund. Moneys in […]
418.2 Reserved Reserved.
418.3 Reserved Reserved.
418.4 Projects. 1. a. A governmental entity may use the moneys in its flood project fund established pursuant to section 418.13 to fund projects that meet the requirements of this section. b. A governmental entity as defined in section 418.1, subsection 4, paragraph “c”, shall have the power to construct, acquire, own, repair, improve, operate, […]
418.5 Flood mitigation board. 1. The flood mitigation board is established consisting of nine voting members and five ex officio, nonvoting members, and is located for administrative purposes within the department. The director of the department shall provide office space, staff assistance, and necessary supplies and equipment for the board. The director shall budget funds […]
418.6 Expenses of board members. The voting members of the board are entitled to receive reimbursement for actual expenses incurred while engaged in the performance of official duties. A member of the board is not eligible to receive the additional expense allowance provided in section 7E.6, subsection 2. 2012 Acts, ch 1094, §7, 18
418.7 Department duties. The department, subject to approval by the board, shall adopt administrative rules pursuant to chapter 17A necessary to administer the flood mitigation program. The department shall provide the board with assistance in implementing administrative functions and providing technical assistance and application assistance to applicants under the program. 2012 Acts, ch 1094, §8, […]
418.8 Flood mitigation program. 1. The board shall establish and the department, subject to direction and approval by the board, shall administer a flood mitigation program to assist governmental entities in undertaking projects approved under this chapter. The flood mitigation program shall include projects approved by the board to utilize either financial assistance from the […]
418.9 Project application review. 1. a. A governmental entity shall submit an application to the board for approval of a project plan. The board shall not approve a project for inclusion in the program if the application is submitted after January 1, 2016. b. The application shall specify whether the governmental entity is requesting financial […]
