Iowa Code r. 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).
Notes
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