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

SF 131: Relating to refund payments made in connection with motor vehicle debt cancellation coverage

Died when the session ended · The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died.

What it does

This bill relates to motor vehicle debt cancellation coverage refunds. The bill provides that the only obligation that a financial institution which purchases retail installment contracts with voluntary debt cancellation coverage has upon prepayment in full is to notify the relevant motor vehicle dealer within days of a payment in full of an installment contract. The dealer shall determine whether the consumer is entitled to a refund of voluntary debt cancellation coverage and issue the refund within days of notice.

Sponsors

Commerce committee

Cost

No fiscal note

Lobbying · 2 for, 0 against

For: Iowa Credit Union League; Wells Fargo & Company

In plain words

  1. January 25, 2023Filed in the Senate
  2. January 25, 2023Approved by the Senate committee
  3. February 15, 2023Withdrawn

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/SF131