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Bills › 90th General Assembly

SSB 1021

Topics:Business & economy

Same legislation: HSB 30, HF 136, SF 196

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Also covers HSB 30 and HF 136 and SF 196.

What changed before it passed
Official bill pageLobbyist declarationsOne-pager to print

Where it is now

  1. Done: IntroducedJanuary 10, 2023
  2. Done: SubcommitteeJanuary 11, 2023
  3. Done: Senate committeeFebruary 2, 2023
  4. Skipped: Passes the SenateContinued as SF 196
  5. Next: House committee
  6. Next: Passes the House
  7. Next: To the Governor
  8. Next: Signed into law

Became SF 196 → Its progress continues under the new number. Go to SF 196 What’s a funnel?

What’s in it

This bill relates to matters under the purview of the banking division of the department of commerce, including permissible investments, notice requirements, and requirements for a person obtaining control of a state bank.141. The bill provides that a person obtaining control of a state bank shall not jeopardize the interests of the bank, including the state bank’s plans to accept deposits, lend money, and process payments in the area that the state bank primarily serves. The bill provides that a state bank may invest up to percent of its aggregate capital in tax equity financing transactions that fund projects that generate tax credits.

Read the full explanation

The state bank shall be a passive investor in the project but may take a majority financial position. The investment in a tax credit project is subject to certain restrictions, including that the state bank shall repay the bank’s investment and provide the expected rate of return.901(7)(a) shall be limited to percent of the bank’s aggregate capital. Current law provides that a bank is limited to percent of the bank’s aggregate capital.901(11), which allows a state bank to invest up to percent of its aggregate capital in innovative financial technology products or services.

Full bill text · What changed before it passed1

Senate subcommittee

Named January 11, 2023. On January 18, 2023 it recommended amendment and 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§524.1308A§524.533§524.544§524.607

Repeals§524.901

How the Code works2

Lobbying

2 for · 0 against · 5 undecided · Who →

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Study bill

SSB 1021RenumberedHSB 30Renumbered

90th General Assembly

HF 136Became lawfrom HSB 30SF 196Cleared committeefrom SSB 1021