2009 Iowa Code
Title 8 - Transportation
Subtitle 1 - Highways and Waterways
CHAPTER 303A - IOWA CULTURAL TRUST
303A.7 - IOWA CULTURAL TRUST GRANT ACCOUNT.

        303A.7  IOWA CULTURAL TRUST GRANT ACCOUNT.
         1.  An Iowa cultural trust grant account is created in the office
      of the treasurer of state under the control of the board to receive
      interest attributable to the investment of trust fund moneys as
      required by section 303A.4, subsection 4.  The moneys in the grant
      account are appropriated to the board for purposes of the Iowa
      cultural trust created in section 303A.4.  Moneys in the grant
      account shall not be subject to appropriation for any other purpose
      by the general assembly, but shall be used only for the purposes of
      the Iowa cultural trust.  The treasurer of state shall act as
      custodian of the grant account and disburse moneys contained in the
      grant account as directed by the board.  The board shall make
      expenditures from the grant account consistent with the purposes of
      the Iowa cultural trust.
         2.  Moneys in the grant account are not subject to section 8.33.
      Notwithstanding section 12C.7, subsection 2, interest or earnings on
      moneys in the grant account shall be credited to the grant account.
         3.  At any time when the principal balance in the trust fund
      equals or exceeds three million dollars, the board may use moneys in
      the grant account for a statewide educational program to promote
      participation in, expanded support of, and local endowment building
      for, Iowa nonprofit arts, history, and sciences and humanities
      organizations.  

         2002 Acts, ch 1115, §8; 2002 Acts, ch 1175, §82; 2007 Acts, ch 73,
      §1
         Referred to in § 303A.3, 303A.4