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

SF 2294: Relating to money transmission services, providing penalties, and including effective date and retroactive applicability provisions

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 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 (companion To Hf 2262 By Committee on 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.

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. February 8, 2024Filed in the Senate
  2. February 8, 2024Approved by the Senate committee
  3. February 16, 2024Cost estimate (fiscal note) posted
  4. March 19, 2024Withdrawn

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/SF2294