89th General Assembly · Iowa Funnel one-pager · Wednesday, November 11, 2026
SF 86: Authorizing savings promotion drawings under specified conditions, and making penalties applicable
Died when the session ended · The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died.
What it does
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. 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.
Sponsors
Not listed
Cost
No fiscal note
Senate subcommittee · named February 9, 2021
- Sen. Jason Schultz (R) · jason.schultz@legis.iowa.gov
- Sen. Tony Bisignano (D) · tony.bisignano@legis.iowa.gov
- Sen. Waylon Brown (R)
Lobbying · 9 for, 3 against
For: CUNA Mutual Group; Coalition for Family and Children's Services in Iowa; Common Good Iowa; 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; Wells Fargo & Company
In plain words
- January 14, 2021Filed in the Senate and sent to the State Government committee
- January 21, 2021Senate subcommittee named: Schultz, Bisignano and Whiting
- February 9, 2021Senate subcommittee named: Schultz, Bisignano and Brown
From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Wednesday, November 11, 2026. https://iowafunnel.com/bills/89/SF86