Relating to closing costs for a debt secured by an interest in land

Where it is now

1. ✓
   Done: IntroducedFebruary 5, 2025
2. ✓
   Done: SubcommitteeFebruary 5, 2025
3. ✓
   Done: Senate committeeFebruary 20, 2025
4. ✓
   Done: Passes the SenateMarch 26, 202547–0
5. ✓
   Done: House committeeApril 3, 2025
6. ✓
   Done: Passes the HouseApril 17, 202593–0
7. ✓
   Done: To the GovernorMay 6, 2025
8. ✓
   Done: Signed into lawMay 6, 2025

Signed into law What’s a funnel?

What’s in it

This bill relates to closing costs for a debt secured by an interest in land.8(5). A creditor may also contract for and receive discount points for the purpose of reducing, and which result in a reduction of, the interest rate or time-price differential applicable to the loan, and points agreed upon by the creditor and borrower to offer a given interest rate.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Changed since by amendment H-1240; see Amendments. Full bill text · What changed before it passed

Senate subcommittee

Named February 5, 2025 (as SSB 1103). On February 13, 2025 it recommended amendment and passage.

• Sen. David D. Rowley REmail
• Sen. Rocky De Witt R
• Sen. Izaah Knox 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§537.2501

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

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.