Relating to eligibility requirements for financial institutions in which public funds may be deposited

Where it is now

1. ✓
   Done: IntroducedFebruary 25, 2025
2. ✓
   Done: SubcommitteeFebruary 25, 2025
3. ✓
   Done: House committeeMarch 5, 2025
4. ✓
   Done: Passes the HouseMarch 25, 202597–0
5. ✓
   Done: Senate committeeApril 3, 2025
6. ✓
   Done: Passes the SenateApril 7, 202547–0
7. ✓
   Done: To the GovernorApril 24, 2025
8. ✓
   Done: Signed into lawApril 25, 2025

Became HF 844 → Its progress continues under the new number. Go to HF 844 What’s a funnel?

What’s in it

This bill repeals Code section 12C.6A, which prohibits public funds from being deposited in a financial institution that does not demonstrate a commitment to serving the needs of the local community in which the institution is chartered to do business, requires the treasurer of state to create a list of financial institutions that are eligible to accept public funds, creates requirements for such financial institutions relating to public comments and annual submissions to the treasurer of state, and establishes a process for challenging an institution’s eligibility to receive public funds.

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

House subcommittee

Named February 25, 2025. On February 27, 2025 it recommended passage.

• Rep. Shannon Lundgren REmail
• Rep. Craig P. Johnson REmail
• Rep. Scheetz

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§12B.10§12C.6§524.223

Repeals§12C.6A

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

Family tree

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.