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90th General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 2262: Relating to money transmission services, providing penalties, and including effective date and retroactive applicability provisions

Signed into law

What it does

This bill relates to money transmission services. The bill adds an exemption from licensing for a person appointed as an agent of a payor for purposes of providing payroll processing services for which a license would otherwise be required, if there is a written agreement between the payor and the agent directing the agent to provide payroll processing services, the payor holds the agent out as providing payroll processing services on the payor’s behalf, and the payor’s obligation to a payee is not extinguished if the agent fails to remit the funds to the payee.

Sponsors

Commerce committee

Cost

Can’t be estimated

House File 2262 establishes new criminal offenses, and the fiscal impact cannot be estimated due to a lack of existing conviction data. Figure 2 shows the average State cost per offense for a Class C felony, Class D felony, and an aggravated misdemeanor.

House subcommittee · named January 23, 2024

  • Rep. Martin L. Graber (R)
  • Rep. Amy Nielsen (D) · amy.nielsen@legis.iowa.gov
  • Rep. Ray Sorensen (R) · ray.sorensen@legis.iowa.gov

Lobbying · 3 for, 0 against

For: Independent Payroll Providers Association; Iowa Division of Banking; National Federation of Independent Business (NFIB /IA)

In plain words

  1. January 23, 2024Filed in the House and sent to the Commerce committee · as HSB 601
  2. January 23, 2024House subcommittee named: Graber, Nielsen and Sorensen · as HSB 601
  3. January 24, 2024Subcommittee recommended passing it · as HSB 601
  4. January 30, 2024Approved by the House committee · as HSB 601
  5. February 1, 2024Filed in the House
  6. February 1, 2024Approved by the House committee, and given a new number: HF 2262 · as HSB 601
  7. February 16, 2024Cost estimate (fiscal note) posted
  8. February 19, 2024Passed the House, 91–0
  9. February 20, 2024Arrived in the Senate
  10. March 19, 2024Took the place of SF 2294 on the Senate floor (the same legislation)
  11. March 19, 2024Passed the Senate, 49–0
  12. April 10, 2024Sent to the Governor
  13. April 10, 2024Signed into law
  14. April 29, 2024Cost estimate (fiscal note) posted

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/90/HF2262