Relating to communication methods regarding the disposition of unclaimed property and including applicability provisions

Sponsored by the Senate Commerce (companion To Hf 247 By Committee on Commerce) Committee

Topics:Business & economy

Same legislation: HSB 33, SSB 1055, HF 247

Write your legislators about itWhat changed before it passed

Official bill page Lobbyist declarations One-pager to print

Where it is now

Done: IntroducedJanuary 18, 2023
Done: SubcommitteeJanuary 18, 2023
Done: Senate committeeFebruary 27, 2023
Done: Passes the SenateMay 2, 202348–0
Skipped: House committeeSkipped
Done: Passes the HouseMarch 6, 202392–0
Done: To the GovernorMay 9, 2023
Done: Signed into lawJune 1, 2023

HF 247 became law → The same legislation passed as HF 247, so this version was set aside. Go to HF 247 What’s a funnel?

What’s in it

AI summary Banks and businesses can now use emails, text messages, or online banking apps to contact people about their property. If a person responds to these electronic messages, it can stop their property from being labeled as abandoned. This rule applies to any electronic communication sent or received after the law starts.¹

Read the official explanation

This bill relates to electronic communication regarding property that is assumed to be abandoned for purposes of property held by a bank, financial institution, or business association. The bill defines “electronic messaging” to mean electronic mail, text messaging, or other electronic means of communication, including an online banking website application. The bill provides that methods of communication between an owner of specified forms of property and a banking or financial organization or by a business association that can, if certain circumstances are met, prevent the property from being considered abandoned include electronic messaging along with correspondence in writing. The bill applies to electronic messaging sent or received on or after the effective date of the bill.

Full bill text · What changed before it passed²

Senate subcommittee

Named January 18, 2023 (as SSB 1055). On January 26, 2023 it recommended passage. [].

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

How the Code works³

Lobbying

1 for · 0 against · 4 undecided · Who →

Family tree

Tried before

SSB 3127Renumbered89th GA SF 2313Cleared committee89th GA

Study bill

HSB 33Renumbered SSB 1055Renumbered

90th General Assembly

HF 247Became lawfrom HSB 33 SF 422Didn’t advancefrom SSB 1055

Earlier and later bills are matched by wording or an identical title.

Tried before

This idea has been filed in an earlier General Assembly. None got through a chamber.

SSB 3127 SSB 3127
89th General Assembly · Renumbered as SF 2313 · same title
Cleared committee
SF 2313 Relating to communication methods regarding the disposition of unclaimed property and incl…
89th General Assembly · Approved by committee · same title
Cleared committee

Matched by wording or an identical title.