Iowa 2023-2024 Regular Session

Iowa Senate Bill SF2133

Introduced
1/29/24  
Introduced
1/29/24  
Refer
2/19/24  
Refer
1/29/24  

Caption

A bill for an act creating a jobs and infrastructure revolving fund and program administered by the Iowa finance authority, and making appropriations.(See SF 2413.)

Impact

The enactment of SF2133 is expected to enhance vertical infrastructure in Iowa through targeted financial support for local government projects. By requiring that eligible subdivisions demonstrate at least 50% funding from private sources, the bill encourages local governments to leverage additional financial support while ensuring that projects contribute to job creation or retention. This focus on job outcomes is likely to resonate with both proponents of economic development and constituents concerned with employment opportunities within their communities.

Summary

Senate File 2133 aims to create a Jobs and Infrastructure Revolving Fund and a corresponding program administered by the Iowa Finance Authority. The bill is structured to provide financial assistance to governmental subdivisions for vertical infrastructure projects, which include significant construction, renovations, and utility developments while excluding routine maintenance costs. The funding mechanism is set to divert 75% of interest accumulated from the general fund over a period from July 1, 2023, through the fiscal year beginning July 1, 2030, to support this initiative.

Contention

Despite the potential benefits, there are points of contention regarding the distribution and oversight of the funds. Critics may question whether the requirement for private funding might disadvantage smaller subdivisions that lack the capacity to attract substantial private investment. Conversely, supporters argue that these measures ensure prudent fiscal management and maximize the impact of state funding. Additionally, discussions around the administrative costs associated with managing the fund may raise concerns about efficiency and resource allocation.

Companion Bills

IA SF2413

Similar To A bill for an act creating a jobs and infrastructure revolving fund and program administered by the Iowa finance authority.(Formerly SF 2133.)

Previously Filed As

IA SSB3187

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund and technology reinvestment fund, and including effective date provisions.(See SF 2484.)

IA SF621

A bill for an act relating to economic development by establishing the Iowa major events and tourism program and fund, modifying the sports tourism and marketing infrastructure program, and making appropriations.(See SF 640.)

IA SSB1238

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund and technology reinvestment fund, providing for related matters including county payment for district court furnishings, establishing the Iowa major events and tourism program and fund, and eliminating the sports tourism marketing program and fund, and including effective date provisions.(See SF 650.)

IA SF640

A bill for an act relating to economic development by establishing the Iowa major events and tourism program and fund, modifying the sports tourism and marketing infrastructure program, and making appropriations.(Formerly SF 621.)

IA SF650

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund and technology reinvestment fund, providing for related matters including county payment for district court furnishings, establishing the Iowa major events and tourism program and fund, and eliminating the sports tourism marketing program and fund, and including effective date provisions.(Formerly SSB 1238.)

IA SF505

A bill for an act codifying a firsthome program administered by the Iowa finance authority.

IA SF2484

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund, technology reinvestment fund, and renewable fuel infrastructure fund, providing for related matters including financial assistance eligibility for regional sports authority districts, department of health and human services information technology systems, the railway tracks overpass and underpass fund, and eligibility for entities to receive financial assistance from both the Iowa major events and tourism fund and the sports tourism infrastructure program, and including effective date provisions. (Formerly SSB 3187.) Effective date: 06/02/2026, 07/01/2026.

IA SSB1218

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund and technology reinvestment fund, and including effective date provisions.

IA HSB782

A bill for an act relating to and making appropriations from the rebuild Iowa infrastructure fund, technology reinvestment fund, and renewable fuel infrastructure fund, providing for related matters including financial assistance eligibility for regional sports authority districts and department of health and human services information technology systems, and including effective date provisions.(See HF 2792.)

IA HF2735

A bill for an act relating to programs administered by the Iowa finance authority including the firsthome program and home ownership assistance program for military members, making appropriations, and including effective date provisions.

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