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

SF 246: Relating to interest on state moneys invested in depository time certificates of deposit

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

What it does

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)).

Sponsors

Sen. Lynn Evans (R)

Cost

No fiscal note

Senate subcommittee · named February 18, 2025

  • Sen. Dawn Driscoll (R) · dawn.driscoll@legis.iowa.gov
  • Sen. Scott Webster (R) · scott.webster@legis.iowa.gov
  • Sen. Janice Weiner (D) · janice.weiner@legis.iowa.gov

Lobbying · 1 for, 0 against

For: Iowa League of Cities

In plain words

  1. February 10, 2025Filed in the Senate and sent to the Local Government committee
  2. February 18, 2025Senate subcommittee named: Driscoll, Webster and Weiner

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/SF246