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

HF 2537: Relating to the treasurer of state’s duties, including Iowa educational savings plan trust and Iowa ABLE savings plan trust requirements and disposition of unclaimed property, and including retroactive applicability provisions

Became HF 2667 · Its progress continues under the new number.

What it does

This bill relates the treasurer of state’s duties, including Iowa educational savings plan trust requirements and disposition of unclaimed property. DIVISION I —— IOWA EDUCATIONAL SAVINGS PLAN TRUST. The bill increases the maximum contribution to a beneficiary’s 529 account that may be deducted for income tax purposes to $5,500 per year. The maximum deduction for tax year 2023 is $3,785. Additionally, under current law the maximum deduction is adjusted annually to reflect increases in the consumer price index.

Cost

Less revenue: up to $5,500

Increasing the maximum contribution to a 529 college savings account or Iowa ABLE savings account to $5,500 is estimated to reduce income tax revenue to the General Fund and local income surtax.

House subcommittee · named March 6, 2024

Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
Rep. Craig P. Johnson (R) · craig.johnson@legis.iowa.gov
Rep. Amy Nielsen (D) · amy.nielsen@legis.iowa.gov

Lobbying · 13 for, 1 against

For: Exceptional Persons, Inc.; Imagine the Possibilities; Iowa Developmental Disabilities Council; Iowa State Treasurer's Office; Iowa Student Loan Liquidity Corp.; Iowa Taxpayers Association; Mosaic; National Association of Insurance and Financial Advisors-Iowa; National Federation of Independent Business (NFIB /IA); Nishna Productions Inc.; One Vision; Village Northwest Unlimited; and 1 more

Against: Iowa Bankers Association

In plain words

January 29, 2024Filed in the House and sent to the State Government committee · as HSB 626
January 29, 2024House subcommittee named: Bloomingdale, Dunwell and Nielsen · as HSB 626
February 12, 2024Subcommittee recommended passing it with changes · as HSB 626
February 13, 2024Approved by the House committee · as HSB 626
February 15, 2024Filed in the House
February 15, 2024Approved by the House committee, and given a new number: HF 2537 · as HSB 626
February 26, 2024Sent to the House Ways and Means committee
March 5, 2024Cost estimate (fiscal note) posted
March 6, 2024House subcommittee named: Bloomingdale, Johnson and Nielsen
March 11, 2024Subcommittee recommended passing it
March 19, 2024Approved by the House committee
March 20, 2024Approved by the House committee, and given a new number: HF 2667
March 26, 2024Withdrawn