A bill for an act establishing a neighborhood housing revitalization assistance program within the Iowa finance authority.

SF 357 creates a neighborhood housing revitalization program within Iowa's Finance Authority to provide forgivable loans for home improvements in designated urban and rural areas. It directly affects homeowners who own and occupy their homes in these targeted zones, covering eligible repairs like roof replacements, electrical upgrades, energy efficiency improvements, and accessibility modifications. The program establishes a dedicated fund using unobligated transfers from other state funds, federal grants, or donations, with unspent money rolling over annually instead of reverting to the general fund. The authority will set rules for loan amounts, eligible work, and income-based forgiveness criteria.