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91st General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 325: Relating to the establishment of a transactional currency based on gold and silver held in a bullion depository approved by the treasurer of state, and providing fees

Died when the session ended · The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died.

What it does

This bill requires the treasurer of state to issue specie and establish a transactional currency that are usable as legal tender and readily transferable. The bill permits the treasurer of state to contract with a private vendor to perform the treasurer of state’s duties and requires the treasurer of state to exclusively authorize an approved bullion depository as the state’s issuer of specie. The bill requires the treasurer of state to hold all specie and bullion owned or purchased for such purposes in trust for the transactional currency holders and to maintain enough specie or bullion to allow for the redemption of all units of the transactional currency issued.

Sponsors

Rep. Brooke Boden (R), Rep. Mark Cisneros (R), Rep. Thomas Gerhold (R), Rep. Cindy Golding (R), Rep. Bob Henderson (R), Rep. Jeff Shipley (R), Rep. Jennifer J. Smith (R), Rep. Mark I. Thompson (R)

Cost

No fiscal note

House subcommittee · named February 24, 2025

  • Rep. Jennifer J. Smith (R) · jennifer.smith@legis.iowa.gov
  • Rep. Jeff Cooling (D) · jeff.cooling@legis.iowa.gov
  • Rep. Jon Dunwell (R)

Lobbying · 0 for, 1 against

Against: Iowa Bankers Association

In plain words

  1. February 11, 2025Filed in the House and sent to the State Government committee
  2. February 24, 2025House subcommittee named: Smith, Cooling and Dunwell
  3. February 26, 2025Subcommittee recommended passing it

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/91/HF325