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

SF 2453: Providing for investment by regents institutions in certified innovation funds and including effective date provisions. Vetoed 6-2-26

Vetoed

What it does

52. The bill provides that each institution shall retain discretion to determine which innovation funds to invest in, when investments are made, and the structure of commitments. The bill authorizes an institution to implement investments through direct commitments, reallocation of existing assets, or rolling commitments as capital is called. Investments made pursuant to the bill shall be managed in accordance with generally accepted institutional fiduciary standards applicable to endowment funds.

Sponsors

Commerce committee

Cost

Can’t be estimated

The fiscal impact of SF 2453 is unknown. There may be some costs associated with the reallocation of assets or varying returns on investments, but the potential impact cannot be estimated with the information available. Source Board of Regents /s/ Jennifer Act…

Senate subcommittee · named February 17, 2026

  • Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
  • Sen. Izaah Knox (D) · izaah.knox@legis.iowa.gov
  • Sen. Carrie Koelker (R) · carrie.koelker@legis.iowa.gov

Lobbying · 2 for, 1 against

For: Genvax Technologies, Inc.; Iowa Venture Capital Association

Against: Iowa Board of Regents

In plain words

  1. February 17, 2026Filed in the Senate and sent to the Commerce committee · as SSB 3180
  2. February 17, 2026Senate subcommittee named: Bousselot, Knox and Koelker · as SSB 3180
  3. February 19, 2026Subcommittee recommended passing it · as SSB 3180
  4. February 19, 2026Approved by the Senate committee, and given a new number: SF 2453 · as SSB 3180
  5. February 23, 2026Filed in the Senate
  6. February 23, 2026Approved by the Senate committee
  7. March 10, 2026Passed the Senate, 45–0
  8. March 12, 2026Arrived in the House
  9. March 18, 2026Approved by the House committee
  10. March 18, 2026Committee vote: 7–4
  11. March 31, 2026Cost estimate (fiscal note) posted
  12. March 31, 2026Passed the House, 55–37
  13. April 7, 2026Cost estimate (fiscal note) posted
  14. May 3, 2026Passed the Senate, 39–5
  15. May 11, 2026Sent to the Governor
  16. May 28, 2026Cost estimate (fiscal note) posted
  17. June 2, 2026Vetoed by the Governor

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/SF2453