Bills › 89th General Assembly
SSB 3069
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 27, 2022
- Done: SubcommitteeJanuary 27, 2022
- Done: Senate committeeFebruary 14, 2022
- Skipped: Passes the SenateContinued as SF 2288
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 2288 → Its progress continues under the new number. Go to SF 2288 What’s a funnel?
What’s in it
8, if the aggregate amount of foreign investments held by the company or association does not exceed percent of the company’s or association’s legal reserve, does not exceed percent of the company’s or association’s legal reserve if the foreign jurisdiction has a sovereign debt rating of SVO 1, and for all other foreign jurisdictions does not exceed percent of the legal reserve.8 for purposes of determining compliance with any limitations under those subsections. Under current law, companies and associations may invest in bonds or other evidences of indebtedness, not to include currency, issued, assumed, or guaranteed by a foreign government other than Canada, or by a corporation incorporated under the laws of a foreign government other than Canada.
Read the full explanation
Such governmental obligations must be valid, legally authorized, and issued, and on the date of acquisition have predominantly investment qualities and characteristics as provided by administrative rule. _____ corporation incorporated under the laws of the United States or Canada. Such foreign investments cannot exceed percent of the legal reserve of the company or association. Investments in obligations of a foreign government, other than Canada, the United Kingdom (UK), and foreign governments rated AAA by Standard and Poor’s division of McGraw-Hill companies, inc. (S&P), or Aaa by Moody’s investors services, inc. (Moody’s), cannot be in excess of percent of the legal reserve in the securities of foreign governments of any one foreign nation. Investments in obligations of the UK cannot exceed percent of the legal reserve. Investments in obligations of foreign governments rated either AAA by S&P, or Aaa by Moody’s, cannot exceed percent of the legal reserve. Investments in a corporation incorporated under the laws of a foreign government other than Canada cannot exceed percent of the legal reserve in the securities of any one foreign corporation. The bill applies to funds invested by a life insurance company or association in a foreign country other than Canada on or after January 1, 2023.
Changed since by amendment H-8140; see Amendments.
Senate subcommittee
Named January 27, 2022. On February 1, 2022 it recommended amendment and passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Amends§511.8
Lobbying
2 for · 0 against · 7 undecided · Who →
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89th General Assembly