Iowa HF 2578: A bill for an act establishing a small business revolving loan program and small business revolving loan fund within the economic development authority to award low-interest loans to eligible small businesses.

Bill Text

House
File
2578
-
Introduced

HOUSE
FILE
2578

BY
LUNDGREN

A
BILL
FOR

An
Act
relating
to
registration
and
titling
of
certain
1

trailers.
2

BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3

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5261YH
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91

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H.F.
2578

Section
1.
Section
321.50,
subsection
1,
Code
2026,
is
1

amended
to
read
as
follows:
2

1.
A
security
interest
in
a
vehicle
subject
to
registration
3

under
the
laws
of
this
state,
except
trailers
whose
empty

4

weight
is
two
thousand
pounds
or
less,
and
except

new
or
used
5

vehicles
held
by
a
dealer
or
manufacturer
as
inventory
for
6

sale,
is
perfected
by
the
delivery
to
any
county
treasurer
7

of
an
application
for
certificate
of
title
which
lists
the
8

security
interest,
or
an
application
for
notation
of
security
9

interest
signed
by
the
owner
or
by
one
owner
of
a
vehicle
owned
10

jointly
by
more
than
one
person,
or
signed
through
electronic
11

means
as
determined
by
the
department,
or
a
certificate
of
12

title
from
another
jurisdiction
which
shows
the
security
13

interest,
and
payment
of
a
fee
of
twenty
dollars
for
each
14

security
interest
shown.
The
security
interest
in
a
mobile
15

home
or
manufactured
home
is
perfected
by
the
delivery
to
16

the
county
treasurer
of
the
county
where
the
certificate
of
17

title
was
issued
or,
in
the
case
of
a
new
certificate,
to
18

the
county
treasurer
where
the
certificate
will
be
issued,
19

of
an
application
for
certificate
of
title
which
lists
the
20

security
interest,
or
an
application
for
notation
of
security
21

interest
signed
by
the
owner
or
by
one
owner
when
owned
jointly
22

by
more
than
one
person,
or
signed
through
electronic
means
23

as
determined
by
the
department,
or
a
certificate
of
title
24

from
another
jurisdiction
which
shows
the
security
interest,
25

and
payment
of
a
fee
of
twenty
dollars
for
each
security
26

interest
shown.
The
department
shall
require
the
federal
27

employer
identification
number
of
a
secured
party
who
is
a
28

firm,
association,
or
corporation
or,
if
a
natural
person,
29

the
social
security
number.
Upon
delivery
of
the
application
30

and
payment
of
the
fee,
the
county
treasurer
shall
note
the
31

date
of
delivery
on
the
application.
If
the
delivery
is
by
32

electronic
means
and
the
time
is
electronically
recorded
on
the
33

application
along
with
the
date,
the
time
shall
be
included
34

with
the
date
on
all
subsequent
documents
and
records
where
the
35

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date
of
perfection
is
required
under
this
chapter
.
The
date
1

of
delivery
shall
be
the
date
of
perfection
of
the
security
2

interest
in
the
vehicle,
regardless
of
the
date
the
security
3

interest
is
noted
on
the
certificate
of
title.
Up
to
three
4

security
interests
may
be
perfected
against
a
vehicle
and
shown
5

on
an
Iowa
certificate
of
title.
If
the
owner
or
secured
party
6

is
in
possession
of
the
certificate
of
title,
it
must
also
be
7

delivered
at
this
time.
If
a
vehicle
is
subject
to
a
security
8

interest
when
brought
into
this
state,
the
validity
of
the
9

security
interest
and
the
date
of
perfection
is
determined
by
10

section
554.9303
.
Delivery
as
provided
in
this
subsection
11

constitutes
perfection
of
a
security
interest
on
a
certificate
12

of
title
for
purposes
of
this
chapter
and
chapter
554
.
13

Sec.
2.
Section
321.123,
subsection
1,
paragraph
a,
14

unnumbered
paragraph
1,
Code
2026,
is
amended
to
read
as
15

follows:
16

All
trailers
except
farm
trailers,

mobile
homes
,
and
17

manufactured
homes,
unless
otherwise
provided
in
this
section
,
18

are
subject
to
an
annual
registration
fee
as
follows:
19

Sec.
3.
Section
321.123,
subsection
1,
paragraph
b,
Code
20

2026,
is
amended
by
striking
the
paragraph.
21

EXPLANATION
22

The
inclusion
of
this
explanation
does
not
constitute
agreement
with
23

the
explanation’s
substance
by
the
members
of
the
general
assembly.
24

Under
current
law,
farm
trailers
are
not
subject
to
an
annual
25

registration
fee.
In
addition,
trailers
for
which
the
empty
26

weight
is
2,000
pounds
or
less
are
exempt
from
the
certificate
27

of
title
and
lien
provisions
of
Code
chapter
321
(motor
28

vehicles
and
law
of
the
road).
29

This
bill
strikes
the
certificate
of
title
and
lien

30

provisions
exemption
for
trailers
weighing
2,000
pounds
or
31

less.
The
fee
for
issuance
of
a
certificate
of
title
is
$30
and
32

a
county
treasurer
is
required
to
add
a
$5
surcharge.
The
fee
33

and
surcharge
must
be
deposited
in
the
statutory
allocations
34

fund
under
Code
section
321.145.
The
bill
also
strikes
the

35

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farm
trailer
annual
registration
fee
exemption.
The
annual
1

registration
fee
is
$20
for
a
trailer
weighing
2,000
pounds
or
2

less
and
$30
for
a
trailer
weighing
more
than
2,000
pounds.
3

The
bill
does
not
amend
the
exemption
under
current
law
4

to
exclude
the
gross
weight
of
a
trailer
in
calculating
the
5

registered
combined
gross
weight
of
a
motor
truck
used
in
6