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

SF 505: Codifying a firsthome program administered by the Iowa finance authority

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

What it does

This bill codifies the firsthome program administered by the Iowa finance authority and requires that the program be administered by the authority to provide down payment and closing cost assistance grants, second loans, free Iowa title guaranty owner’s certificates, or other assistance to eligible first-time homebuyers. “First-time homebuyer” and “second loan” are defined in the bill. The requirements for an individual to qualify for the program are detailed in the bill. The maximum assistance that may be provided in the form of a grant to an individual under the firsthome program is $10,000. The Iowa finance authority shall adopt rules as necessary to implement and administer the bill.

Sponsors

Sen. Liz Bennett (D), Sen. Tony Bisignano (D), Sen. Matt Blake (D), Sen. Molly Donahue (D), Sen. William A. Dotzler Jr. (D), Sen. Sarah Trone Garriott (D), Sen. Izaah Knox (D), Sen. Janet Petersen (D), Sen. Herman C. Quirmbach (D), Sen. Art Staed (D), Sen. Thomas Townsend (D), Sen. Janice Weiner (D), Sen. Cindy Winckler (D), Sen. Mike Zimmer (D)

Cost

No fiscal note

Senate subcommittee · named March 11, 2025

  • Sen. Ken Rozenboom (R) · ken.rozenboom@legis.iowa.gov
  • Sen. Jason Schultz (R) · jason.schultz@legis.iowa.gov
  • Sen. Art Staed (D) · art.staed@legis.iowa.gov

In plain words

  1. March 4, 2025Filed in the Senate and sent to the State Government committee
  2. March 11, 2025Senate subcommittee named: Rozenboom, Schultz and Staed

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/SF505