State Housing Trust Fund Appropriations
Sources of Funds
Funding for the State Housing Trust Fund comes from two sources. The first is from a standing appropriation of $3M from the Rebuild Iowa Infrastructure Fund (RIIF). The dollars in RIIF come from a tax on gaming activities in the state. Use of RIIF dollars are limited to infrastructure improvements and cannot be used for General Fund purposes.
The second source of funds is from the Real Estate Transfer Tax. (RETT). Since FY 2010 the SHTF has received an increasing percentage of the tax and the percentage will continue to increase until the SHTF receives $3M. In FY11 the percentage was 10% and the SHTF received about $1.25M.