Iowa § 418.10 Flood mitigation fund

Iowa Statutes

§ 418.10 — Flood mitigation fund

Iowa § 418.10

Title IXLOCAL GOVERNMENT

Ch. 418FLOOD MITIGATION PROGRAM

This text of Iowa § 418.10 (Flood mitigation fund) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 418.10 (2026).

Text

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 in the fund shall only be used for the purposes of this section.

2.Payments of interest, repayments of moneys loaned pursuant to this chapter, and recaptures of grants, if provided for in the financial assistance agreements, shall be deposited in the fund.

3.The moneys in the fund shall be used to provide assistance in the form of grants, loans, and forgivable loans. The board may only provide financial assistance from moneys in the fund.

4.Moneys credited to the fund are not subject to section 8.33 and

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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 in the fund shall only be used for the purposes of this section.
2. Payments of interest, repayments of moneys loaned pursuant to this chapter, and
recaptures of grants, if provided for in the financial assistance agreements, shall be deposited
in the fund.
3. The moneys in the fund shall be used to provide assistance in the form of grants, loans,
and forgivable loans. The board may only provide financial assistance from moneys in the
fund.
4. Moneys credited to the fund are not subject to section 8.33 and shall not be transferred,
used, obligated, appropriated, or otherwise encumbered except as provided in this chapter.
Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall
be credited to the fund.
5. Ifanyportionofthemoneysappropriatedfordepositinthefundhavenotbeenawarded
during the fiscal year for which the appropriation is made, the portion which has not been
awarded may be utilized by the board to provide financial assistance under the program in
subsequent fiscal years.
6. The board may make a multiyear commitment to a governmental entity of up to four
million dollars in any one fiscal year.
7. Moneys received by a governmental entity from the fund shall be deposited in the
governmental entity’s flood project fund under section 418.13.
8. The board is not required to award financial assistance pursuant to this section unless
moneys are appropriated to and available from the fund.
9. Following completion of all projects approved to utilize financial assistance from the
fund and upon a determination by the board that remaining moneys in the fund are no longer
needed for the program, all moneys remaining in the fund or subsequently deposited in the
fund shall be credited for deposit in the general fund of the state.