|LAWS OF THE 2001 REGULAR SESSION
OF THE SEVENTY-NINTH
GENERAL ASSEMBLY OF THE STATE OF IOWA
Section 1. Section 239B.8, Code 2001, is amended by adding the following new subsection:
NEW SUBSECTION. 7. POSTSECONDARY EDUCATION. For family investment agreements entered into on or after July 1, 1996, the maximum allowable time period for supported postsecondary education is limited to a total of twenty-four months. The twenty-four-month allowance shall only be available for a period of forty-eight consecutive months.
Sec. 2. AGREEMENTS IN EFFECT. This Act applies prospectively to family investment agreements entered into on or after July 1, 2001, and retrospectively to family investment agreements containing postsecondary education provisions in effect on July 1, 2001, that were entered into before that date. The department of human services shall amend those agreements subject to retrospective applicability as necessary to apply the twenty-four-month maximum allowance within a period of forty-eight consecutive months as authorized by this Act.
Approved May 16, 2001
Updated: 29-Oct-2001 01:11 PM