Iowa Admin. Code r. 701-273.6

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 701-273.6 - Administrative fee

(1)Administrative fee. Pursuant to Iowa Code section 423.2A(3), the department will retain an administrative fee from the amount it would otherwise distribute to the reinvestment district program.

(2)Amount retained. The amount retained each quarter will be the total of the prorated shares amongst all projects in both the reinvestment districts programs and the flood mitigation program authorized under Iowa Code chapter 418.

(3)Prorated share. Each entity's prorated share of the administrative fee for each quarter will be calculated as follows:

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This rule is intended to implement Iowa Code section 423.2A(3).

Iowa Admin. Code r. 701-273.6

ARC 8166C, IAB 7/24/24, effective 8/28/24