This text of Iowa § 418.16 (Flood recovery 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.
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 the fund are appropriated to the department and shall be used for the purposes
designatedinthissection. Moneysinthefundshallnotsupplantanyfederaldisasterrecovery
moneys.
2.The board may award moneys from the fund to eligible political subdivisions of the
state. A political subdivision of the state is eligible to receive moneys from the fund if the
political subdivision is located in a county designated under presidential disaster declaration
DR-4421-IA and is also located in a county where the federal emergenc
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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 the fund are appropriated to the department and shall be used for the purposes
designatedinthissection. Moneysinthefundshallnotsupplantanyfederaldisasterrecovery
moneys.
2. The board may award moneys from the fund to eligible political subdivisions of the
state. A political subdivision of the state is eligible to receive moneys from the fund if the
political subdivision is located in a county designated under presidential disaster declaration
DR-4421-IA and is also located in a county where the federal emergency management
agency’s individual assistance program has been activated.
3. In order to be awarded moneys from the fund, a political subdivision of the state shall
submitaprojectapplicationtothedepartmentforconsiderationbytheboard. Theboardshall
prescribe application forms and application instructions. Project applications shall include
all of the following:
a. A description of the project and the manner in which the project supports flood
response, flood recovery, or flood mitigation activities.
b. A description of the financial assistance needed from the fund.
c. Details on any additional moneys to be applied to the project.
4. a. The board shall review all project applications. During the review of a project
application, the board shall consider, at a minimum, all of the following:
(1) Whether the project supports flood response, flood recovery, or flood mitigation
activities.
(2) Whethermoneysfromthefundareessentialtomeetthenecessaryexpensesorserious
needsofthepoliticalsubdivisionrelatedtofloodresponse, floodrecovery, orfloodmitigation.
b. Upon review of a project application, the board shall approve, defer, or deny the
application. Ifaprojectapplicationisapproved, theboardshallspecifytheamountofmoneys
from the fund awarded to the political subdivision. The board shall negotiate and execute
on behalf of the department all necessary agreements to provide the moneys. If a project
application is deferred or denied, the board shall state the reasons for such deferral or denial.
5. Notwithstanding section 8.33, moneys in the fund that remain unencumbered or
unobligated at the close of a fiscal year shall not revert but shall remain available for
expenditure for the purposes designated in this section. Notwithstanding section 12C.7,
subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the
fund. The department may use the interest earned on moneys in the fund for reimbursement
of actual expenses of voting board members under section 418.6 and for costs incurred by
the department to administer the flood mitigation program and to provide assistance to the
flood mitigation board and program applicants under section 418.7.