SF 2213: Providing for an assignment of assets for the benefit of creditors, exempting the related tax on the transfer of real estate, and including effective date provisions

What it does

GENERAL. This bill is based on the “Uniform Assignment for Benefit of Creditors Act” approved and recommended by the uniform law commission in 2025 for enactment by all states. The bill repeals Code chapter 681 which governs the same subject. BACKGROUND. An assignment for the benefit of creditors (commonly referred to as “ABC”) allows one party to facilitate the liquidation of the person’s assets by transferring the assets to a disinterested party who acts as a fiduciary supervising the distribution of the assets to pay creditor claims.

Senate subcommittee · named February 26, 2026

• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. Carrie Koelker (R) · carrie.koelker@legis.iowa.gov
• Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Iowa Commission on Uniform State Laws c/o David S. Walker, Chair; Iowa State Bar Association

In plain words

1. February 5, 2026Filed in the Senate and sent to the Judiciary committee
2. February 10, 2026Senate subcommittee named: Bousselot, Blake and Webster
3. February 12, 2026Subcommittee recommended passing it
4. February 19, 2026Approved by the Senate committee
5. February 24, 2026Sent to the Senate Ways and Means committee
6. February 26, 2026Senate subcommittee named: Bousselot, Koelker and Quirmbach
7. March 10, 2026Subcommittee recommended passing it
8. April 15, 2026Approved by the Senate committee, and given a new number: SF 2497