Iowa statute
Iowa Code § 904.118 — Federal receipts fund
Current through 2026 Iowa Code (enactments effective on or before 2026-01-01, through the 2025 Regular Session, 91st G.A.)
Part of Subchapter I: Administration Generally, Iowa Code.
Full text of Iowa Code § 904.118
Statutory text current through the 2026 Iowa Code (enactments effective on or before 2026-01-01, through the 2025 Regular Session, 91st G.A.). This publication reproduces the statutory text of the official 2026 Iowa Code (Legislative Services Agency); it is not the official publication of the State of Iowa.
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.
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