Iowa Code 15.261 – Vacant buildings demolition fund
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1. A vacant buildings demolition fund is created in the state treasury under the control of the authority. The fund shall consist of all moneys appropriated to the fund.
Terms Used In Iowa Code 15.261
- Authority: means the economic development authority created in section 15. See Iowa Code 15.102
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. Moneys in the vacant buildings demolition fund are appropriated to the authority for purposes of funding a grant program for the demolition of vacant buildings owned by the state or by a county that has purchased real property from the federal government which are no longer used for a state or federal purpose. Grant program criteria shall provide that no more than fifty percent of the cost of a project for the demolition of vacant buildings shall be funded from a grant under the program. The authority shall give preference to applicants that have not previously been awarded money from this fund.
3. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the vacant buildings demolition fund shall be credited to the vacant buildings demolition fund. Notwithstanding section 8.33, moneys credited to the vacant buildings demolition fund shall not revert at the close of a fiscal year.