Bills › 91st General Assembly
Relating to programs administered by the Iowa finance authority including the firsthome program and home ownership assistance program for military members, making appropriations, and including effective date provisions
Sponsored by Rep. Austin Baeth (D), Rep. Sean Bagniewski (D), Rep. Timi M. Brown-Powers (D), Rep. Ken Croken (D), Rep. David Jacoby (D), Rep. Rob Johnson (D), Rep. Bob Kressig (D), Rep. Monica Kurth (D), Rep. Heather Matson (D), Rep. Larry McBurney (D), Rep. Brian Meyer (D), Rep. Angel Ramirez (D), Rep. Beth Wessel-Kroeschell (D), Rep. Aime Wichtendahl (D)
Where it is now
- Done: IntroducedMarch 9, 2026
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committeeFunnel: by February 20, 2026
- Next: Passes the House
- Next: Senate committeeFunnel: by March 20, 2026
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2026 session adjourned on May 3, 2026, 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 The Iowa finance authority would officially run a program to help first-time homebuyers with costs like down payments or closing fees. Eligible people could receive grants up to $10,000, second loans, or title certificates to help them buy a home. Additionally, the state would provide extra money to help current and former members of the military purchase houses.1
Read the official explanation
This bill relates to matters under the purview of the Iowa finance authority including the firsthome program and the home ownership assistance program for military members. The bill codifies the firsthome program administered by the Iowa finance authority and requires that the program be administered by the authority to provide down payment and closing cost assistance grants, second loans, free Iowa title guaranty owner’s certificates, or other assistance to eligible first-time homebuyers. “First-time homebuyer” and “second loan” are defined in the bill. The requirements for an individual to qualify for the program are detailed in the bill. The maximum assistance that may be provided in the form of a grant to an individual under the firsthome program is $10,000. The Iowa finance authority shall adopt rules as necessary to implement and administer the bill.2 million from the general fund of the state to the Iowa finance authority for FY 2025-2026 to be used for the military home ownership assistance program, which provides financial assistance to current and former members of the United States armed forces for purchasing homes.2 million). The bill takes effect upon enactment.