Gov. Terry E. Branstad signs Senate File 2018, USS Iowa bill, into law

USS Iowa at anchor Mare Island California 1949 (US Navy Photo)

(DES MOINES)- Gov. Terry E. Branstad today signed the following legislation into law:

Senate File 2018: An Act relating to financial assistance for the purposes of the Battleship Iowa, BB-61, making appropriations, and including effective date provisions.

The bill is as follows:

Moneys in the BB-61 fund are appropriated to the department of cultural affairs to be used in accordance with this section. Subject only to the requirements in this subsection, the department of cultural affairs shall award a grant to a nonprofit entity that is awarded possession or conditional possession of the battleship Iowa, BB-61, an amount equal to $3,000,000 plus any moneys held in the BB-61 fund created in 2010 Iowa Acts, chapter 1194. The grant moneys shall be expended for the limited purposes of hull and superstructure preparation and painting, ship repairs and improvements, transportation and towing of ship, pier, and dock preparation and improvements, and museum development for the purposes of receiving and berthing the battleship Iowa, BB-61. The grant shall be awarded and the moneys shall be remitted to the nonprofit not less than 30 days after the effective.

The grant recipient shall file two periodic reports with both the department of cultural affairs and the state auditor itemizing how the moneys have been expended. The first report shall be filed when 50 percent of the moneys have been expended, and the second report shall be filed when 100 percent of the moneys have been expended.