Recovery Zone Bond Allocations

HSB 707 was voted out of the House Rebuild Iowa Committee this week.  The bill relates to recovery zone bonds issued under the American Recovery and Reinvestment Act (ARRA).  The bonds, which fall under the federal “use it or lose it” policy, must be issued by December 31, 2010.  As amended, the bill provides that a county or large municipality may waive all or a portion of its recovery zone bond allocation.  Any portion that remains unused is recaptured by the Iowa Finance Authority (IFA).  On or after March 1, 2010, any eligible issuer may apply to IFA for an allocation from the amount of waived bond allocations recaptured. The bill takes effect upon enactment.  ISAC is registered undecided on the bill.  Please click here to view the amounts allocated to each county and large municipality.

Iowa State Association of Counties          Home     Search    Contact Us