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Bills › 90th General Assembly

SF 2169Died when the session ended · January 31, 2024

Relating to the disposition of unclaimed property held by banking or financial organizations, and gift certificates known as chamber bucks, and including retroactive applicability provisions

Topics:Business & economyState government

Same legislation: HF 2036

Write your legislators about it

Also covers HF 2036.

Official bill pageLobbyist declarationsOne-pager to print

Where it is now

  1. Done: IntroducedJanuary 11, 2024
  2. Done: SubcommitteeFebruary 7, 2024
  3. Stopped: Senate committeeDied when the General Assembly ended
  4. Next: Passes the Senate
  5. Next: House committee
  6. Next: Passes the House
  7. Next: To the Governor
  8. Next: Signed into law

Died when the session ended The 2024 session adjourned on April 19, 2024, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

AI summary Money held by banks for local chamber of commerce gift certificate programs will no longer be treated as abandoned property. This change affects how businesses and banks handle "chamber bucks," which are gift certificates used at local shops. These rules apply to all such programs and certificates used in Iowa.1

Read the official explanation

This bill relates to the disposition of unclaimed property held in banking or financial organizations, and gift certificates known as chamber bucks. The bill defines “chamber buck” to mean a gift certificate offered for purchase through a local chamber of commerce as part of a chamber buck program that can be redeemed at a participating local business within the area where the chamber of commerce is located. “Chamber buck program” is defined as a program created and administered by a local chamber of commerce that offers chamber bucks for purchase. The bill provides that property deposited with a banking or financial organization by a person as part of the administration of a chamber buck program shall not be subject to the presumption of abandonment.9(2). The bill applies retroactively to July 1, 2014, for all chamber bucks purchased or sold in, and to all chamber buck programs administered in, the state of Iowa.

Full bill text2

Senate subcommittee

Named February 7, 2024. Meeting: Tuesday, February 13 · 11:00 AM · Senate Lounge.

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§556.1§556.2§556.9

How the Code works3

Lobbying

4 for · 0 against · 11 undecided · Who →

Family tree

90th General Assembly

HF 2036Cleared committeeHouse companionSF 2169Cleared committeeSenate companion