Relating to interest on state moneys invested in depository time certificates of deposit

Where it is now

1. ✓
   Done: IntroducedFebruary 10, 2025
2. ✓
   Done: SubcommitteeFebruary 18, 2025
3. ✕
   Stopped: Senate committeeDied when the General Assembly ended
4. Next: Passes the Senate
5. Next: House committeeFunnel: by March 20, 2026
6. Next: Passes the House
7. Next: To the Governor
8. Next: Signed into law

Died when the session ended The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

Under current law, state moneys invested in a depository time certificate of deposit (CD) must earn interest at no less than the rate established by the treasurer of state for state moneys placed in a time deposit. This bill requires that such a CD interest rate be at least one-half of the effective federal funds rate, as published by the federal reserve bank of New York. By operation of law, this applies to investments in CDs by a public body or officer other than the treasurer of state (Code section 12C.6(3)).

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

Senate subcommittee

Named February 18, 2025. It hasn’t reported yet.

• Sen. Dawn Driscoll REmail
• Sen. Scott Webster REmail
• Sen. Janice Weiner DEmail

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Amends§12C.6

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works