Relating to the investment of funds by life insurance companies and associations

Where it is now

1. ✓
   Done: IntroducedFebruary 8, 2024
2. –
   Skipped: SubcommitteeSkipped
3. ✓
   Done: Senate committeeFebruary 12, 2024
4. ✓
   Done: Passes the SenateMarch 18, 202450–0
5. –
   Skipped: House committeeSkipped
6. ✓
   Done: Passes the HouseFebruary 20, 202496–0
7. ✓
   Done: To the GovernorApril 10, 2024
8. ✓
   Done: Signed into lawApril 10, 2024

HF 2405 became law → The same legislation passed as HF 2405, so this version was set aside. Go to HF 2405 What’s a funnel?

What’s in it

This bill relates to the investment of funds by life insurance companies and associations. “Credit instrument” is defined in the bill as an investment that is qualified as a bond under the accounting practices and procedures manual, and includes asset-backed securities, bank loans, and SVO-listed funds that have an SVO designation, and that qualify as a bond under the manual.8(1) and (9) to conform with that definition. The bill prohibits an insurer that files an annual statement and completes the NAIC health statement test from acquiring an investment if, as a result of the investment, the aggregate amount of investments held by the insurer will exceed percent of the insurer’s assets.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text · What changed before it passed

Iowa Code it changes

Amends§508.33A§511.8

Repeals§508.6

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

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Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.