Iowa Code § 904.118
Federal receipts fund
Iowa · Iowa Code Chapter 904 — Department of Corrections · Status: effective
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- Citation
- Iowa Code § 904.118, Federal receipts fund, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2322391
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Full text
1. A federal receipts fund is established in the state treasury under the control of the department. The fund shall consist of all of the following:
a. All federal moneys received by the department, including but not limited to moneys received for federally contracted services, but excluding moneys required to be deposited in the special fund pursuant to section 8.41.
b. Any other moneys appropriated to or deposited in the fund.
2. Moneys in the fund are appropriated to the department for purposes of the operations of the department and any other use authorized or required under the federal law or contract pursuant to which the moneys were paid. This subsection does not apply to federal moneys the expenditure of which is otherwise provided for by law, including but not limited to federal moneys described in section 904.301B, subsection 14.
3. Notwithstanding section 8.33, moneys in the fund that remain unencumbered or unobligated at the close of a fiscal year shall not revert but shall remain available for expenditure for the purposes designated. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund.