Bills › 91st General Assembly
Relating to the investment of public moneys in digital assets and precious metals
Sponsored by Sen. Dave Sires (R)
Topics:State government
Same legislation: HF 246
Where it is now
- Done: IntroducedFebruary 6, 2025
- Done: SubcommitteeFebruary 24, 2025
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committeeFunnel: by March 20, 2026
- Next: Passes the House
- Next: To the Governor
- 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, the treasurer of state (treasurer) may only make ceratin investments with public moneys. This bill allows the treasurer to invest no more than percent of the moneys from the general fund of the state, cash reserve fund, and Iowa economic emergency fund in precious metals, digital assets with a market capitalization of over $750 billion, and stablecoins. The bill requires that a digital asset be held by the treasurer through the use of a secure-custody solution, by a qualified custodian, or as an exchange-traded product.
Read the full explanation
The bill requires that precious metals be held in physical form by the state or in conjunction with another state, by a qualified custodian, or as an exchange-traded product. The treasurer may only hold stablecoins that have received regulatory approval from a state or the United States. The bill permits the treasurer to loan a digital asset to generate revenue for the state if doing so does not increase the financial risk to the state. The bill provides that if a tax or fee is paid to the state in digital assets with a market capitalization of over $750 billion or stablecoin, the asset must be transferred to the general fund and the original fund must be reimbursed with United States currency. If a tax or fee is paid in digital assets with a lesser market capitalization, the asset must be converted into United States currency.
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 24, 2025. It hasn’t reported yet.
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
Creates§12B.10D
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
1 for · 0 against · 2 undecided · Who →
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.
91st General Assembly
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.