91st General Assembly · Funnel one-pager · Monday, November 9, 2026
SF 2326: Modifying first-time homebuyers savings accounts, and including retroactive applicability provisions
Died when the session ended · The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died.
What it does
Currently, individuals may open an interest-bearing savings account and designate the account as a first-time homebuyer savings account (account) for the purpose of financing the purchase of a single-family residence in this state by a first-time homebuyer. The account may be established individually, or jointly with a spouse if the married couple files a joint Iowa income tax return. The contributions to the account are deductible from the individual income tax. Currently, contributions are deductible in the amount of $4,744 for married persons, and $2,372 for individuals, and any interest in the account accrues state tax free.
Sponsors
Sen. Sarah Trone Garriott (D)
Cost
No fiscal note
Senate subcommittee · named February 23, 2026
- Sen. Dan Zumbach (R) · dan.zumbach@legis.iowa.gov
- Sen. Molly Donahue (D) · molly.donahue@legis.iowa.gov
- Sen. Tim Kraayenbrink (R) · tim.kraayenbrink@legis.iowa.gov
Lobbying · 1 for, 0 against
For: Iowa Mortgage Association
In plain words
- February 12, 2026Filed in the Senate and sent to the Appropriations committee
- February 23, 2026Senate subcommittee named: Zumbach, Donahue and Kraayenbrink
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/SF2326