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8-41a
8.41A FEDERAL RECOVERY AND REINVESTMENT FUND.
1. A federal recovery and reinvestment fund is created in the
state treasury under the control of the department of management
consisting of moneys received from the federal government for state
and local government fiscal relief under the federal American
Recovery and Reinvestment Act of 2009, Pub. L. No. 111-5, and other
moneys received for state and local government fiscal relief under
any other federal legislation. Notwithstanding section 12C.7,
interest or earnings on moneys in the fund shall be credited to the
fund. Notwithstanding section 8.33, moneys credited to the fund that
remain unexpended or unobligated at the end of a fiscal year shall
not revert to any other fund.
2. Moneys appropriated from the fund shall be expended as
provided in the federal law making the moneys available and in
conformance with chapter 17A.
3. The recipient of an appropriation made from the fund shall
account for the appropriation in a manner agreed to by the department
of management and the legislative services agency.
4. The governor shall create an Iowa accountability and
transparency board to monitor the state's use of federal American
Recovery and Reinvestment Act of 2009 funding in order to prevent
fraud, waste, and abuse, and to make recommendations to the governor
and general assembly to assure best practices are implemented for the
use of the funding. Section History: Recent Form
2009 Acts, ch 183, §68, 74
