SSB 1120 – Manufactured Housing Program Fund
COMMITTEE ACTION:
SSB 1120 creates a Manufactured Housing Program Fund within the Iowa Finance. Any moneys in the fund will be used to provide funding to financing agents or financial institutions for the purchase of a manufactured home by an Iowan. Iowa Finance Authority has other products to help Iowans purchase manufactured housing when they own the land, but this program will help Iowans purchase their manufactured home when they do not own the land. There is no appropriation in the bill. The Iowa Finance Authority would likely partner with the private sector for loan origination and servicing as they do with all of their other single-family housing products. They are likely to do a linked-deposit type of program. [2/16: short form (Chelgren “no;” Hatch, Behn excused)]