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

SF 2376: Relating to bonds and letters of credit for general contractors and subcontractors

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 relates to performance bonds and letters of credit for general contractors and subcontractors. The bill requires a general contractor or subcontractor, as defined in Code chapter 572 (mechanic’s lien), engaged in the business of construction, defined in the bill as the improvement of real property, including the performance of labor or furnishing of materials for the alteration, repair, or erection of a building or structure, in this state to obtain and maintain an annual performance bond or irrevocable letter of credit in the amount of $50,000.

Cost

Cost: up to $724,000

5 additional FTE positions and a one-time programming cost of $10,000 to the ALIGN system. The costs for FY 2028 and thereafter will be approximately $724,000 annually. Source Department of Inspections, Appeals, and Licensing /s/ Jennifer Acton March 18, 2026 …

House subcommittee · named March 10, 2026

Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
Rep. Daniel Gosa (D) · daniel.gosa@legis.iowa.gov
Rep. Craig Steven Williams (R) · craig.williams@legis.iowa.gov

Lobbying · 4 for, 4 against

For: AARP Iowa; IBEW Iowa State Conference; Iowa Alliance of Surety Companies; Linn County Board of Supervisors

Against: Iowa State Bar Association; Rural School Advocates of Iowa; School Administrators of Iowa; Urban Education Network of Iowa

In plain words

February 18, 2026Filed in the Senate
February 18, 2026Approved by the Senate committee
March 2, 2026Passed the Senate, 44–0
March 2, 2026Arrived in the House
March 10, 2026House subcommittee named: Bloomingdale, Gosa and Williams
March 12, 2026Subcommittee recommended passing it
March 18, 2026Cost estimate (fiscal note) posted