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

HF 2667: 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

Signed into law

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.

Sponsors

Ways and Means (successor To Hsb 626) committee

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.

Senate subcommittee · named April 1, 2024

  • Sen. Adrian Dickey (R) · adrian.dickey@legis.iowa.gov
  • Sen. Pam Jochum (D)
  • Sen. David D. Rowley (R) · david.rowley@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

  1. March 20, 2024Filed in the House
  2. March 21, 2024Cost estimate (fiscal note) posted
  3. March 26, 2024Passed the House, 95–0
  4. March 26, 2024Arrived in the Senate
  5. April 1, 2024Senate subcommittee named: Dickey, Jochum and Rowley
  6. April 2, 2024Subcommittee recommended passing it
  7. April 11, 2024Approved by the Senate committee
  8. April 19, 2024Passed the Senate, 45–0
  9. April 19, 2024Passed the House, 92–0
  10. April 26, 2024Cost estimate (fiscal note) posted
  11. April 29, 2024Sent to the Governor
  12. May 8, 2024Signed into law

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/HF2667