Amendment S-5214 to HF 2326

Filed April 27, 2026 in the Senate by Sen. Jeff Reichman (R)

What it changes

1. Page 1, by striking line 35 and inserting “that debt, or from collecting the fee authorized under section 533A.9, subsection 4, paragraph “c” , subsection (1), subparagraph division (b), if the debtor subsequently completes the payment terms required under the debt settlement agreement.”
2. Page 2, line 18, after “c.” by inserting “(1)”
3. Page 2, by striking lines 25 through 31 and inserting “amount, not to exceed the following:”
4. Page 2, before line 32 by inserting: “(a) Twenty percent of the total amount of debt enrolled by the debtor at the time of enrollment in the debt management program, which the licensee may collect after the debtor has satisfied the requirements of this subsection. (b) Thirty percent of the difference between the principal amount of the debt the debtor owed to a creditor at the time the debtor signed the agreement under paragraph “a” , and the amount the debtor paid the creditor to settle the debt not including any fee the debtor paid to the licensee under this section, which the licensee may collect upon settlement of a debt. (2) The individual debt amount and the entire debt amount are those owed at the time the debt was enrolled in the debt management program. The percent charged is the same for each individual debt enrolled in the debt management program.”
5. Page 3, by striking lines 3 through 5 and inserting “licensee to a debtor shall not exceed the amounts specified in subsections 3 and
6. ”
7. Page 3, by striking lines 10 through
9. By renumbering as necessary.

Official amendment (PDF) · In the Bill Book