HSB 584: HSB 584

What it does

_____ the explanation’s substance by the members of the general assembly. This bill allows a financial institution or multiple financial institutions to conduct savings promotion drawings without a license under specified conditions. The bill defines “financial institution” to mean a state or federally chartered credit union or bank which is located in Iowa and which receives money for deposit. The bill defines “savings promotion drawing” to mean a drawing conducted by a financial institution or group of financial institutions in which a designated prize or prizes may be won by the deposit of a specified amount of money in a savings account, time deposit, or other savings program.

House subcommittee · named January 19, 2022

• Rep. Shannon Lundgren (R) · shannon.lundgren@legis.iowa.gov
• Rep. Brooke Boden (R) · brooke.boden@legis.iowa.gov
• Rep. Bruce Hunter (D)

Lobbying · 7 for, 2 against

For: CUNA Mutual Group; Iowa CareGivers; Iowa Coalition Against Domestic Violence; Iowa Credit Union League; Iowa Institute for Cooperatives; Iowa Primary Care Association; Veridian Credit Union

Against: Community Bankers of Iowa; Iowa Bankers Association

In plain words

1. January 19, 2022Filed in the House and sent to the State Government committee
2. January 19, 2022House subcommittee named: Lundgren, Boden and Hunter
3. January 26, 2022Subcommittee recommended passing it
4. February 8, 2022Approved by the House committee
5. February 8, 2022Approved by the House committee, and given a new number: HF 2329