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

HSB 633: Relating to the investment of public funds, and making penalties applicable

Became HF 2592 · Its progress continues under the new number.

What it does

This bill relates to the investment of public funds. The bill allows the uninsured portion of any public funds invested through a depository to be invested in insured deposits or certificates of deposit that are placed in or issued by a credit union.10(5). A joint investment trust shall not pay an individual, association, or entity that does not provide direct investment management, administrative, custodial, or other bona fide operational services to the trust. Before depositing or investing public funds with a joint investment trust, the governing body of the political subdivision must execute a written acknowledgment relating to the insurance and safety of the funds.

Sponsors

Not listed

Cost

See the fiscal note

Senate File 2286 may impact how political subdivisions invest public funds, which may impact investment returns, fees, and administrative costs paid by political subdivisions. Any potential fiscal impact cannot be determined, but may be significant.

House subcommittee · named January 28, 2026

  • Rep. Taylor R. Collins (R) · taylor.collins@legis.iowa.gov
  • Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
  • Rep. Dr. Megan L. Srinivas (D) · megan.srinivas@legis.iowa.gov

Lobbying · 8 for, 16 against

For: Community Bankers of Iowa; Credit Union Division; Iowa Association of Business and Industry (ABI); Iowa Bankers Association; Iowa Business Council; Iowa Credit Union League; Iowa Division of Banking; Iowa Insurance Division

Against: Area Education Agencies of Iowa; Central Iowa Water Association; Central Iowa Water Works; Des Moines Water Works; Iowa Association of Municipal Utilities; Iowa League of Cities; Iowa Public Agency Investment Trust; Iowa Rural Water Association; Iowa School Joint Investment Trust; Iowa State Association of Counties; Iowa State County Treasurers Association; Rural School Advocates of Iowa; and 4 more

In plain words

  1. January 28, 2026Filed in the House and sent to the State Government committee
  2. January 28, 2026House subcommittee named: Collins, Bloomingdale and Srinivas
  3. February 3, 2026Subcommittee recommended passing it
  4. February 17, 2026Approved by the House committee
  5. February 17, 2026Committee vote: 15–6
  6. February 18, 2026Approved by the House committee, and given a new number: HF 2592

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/HSB633