All Roll Calls
Yes: 144 • No: 0
IowaHF 84491st General Assembly (2025–2026)HouseWALLET
A bill for an act relating to eligibility requirements for financial institutions in which public funds may be deposited. (Formerly HSB 252.) Effective date: 07/01/2025.
Sponsored By: COMMITTEE ON STATE GOVERNMENT
Signed by Governor
Your PRIA Score
Score Hidden
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
More insured options for public deposits
Beginning 07/01/2025, depositories can place the uninsured part of a public deposit into insured deposits or CDs at federally insured banks or savings associations, anywhere in the U.S. The depository must arrange the placement for the public depositor and follow the law’s required steps.
Tougher oversight of banks holding public funds
Beginning 07/01/2025, the superintendent can issue cease-and-desist orders when a state bank or its leaders fail to appear at a hearing or break the rules. If they do not show up, the law treats that as consent to the order. The superintendent can require fixes and can recommend removing a bank from the state’s list of banks allowed to hold public funds. These requirements can apply for the current quarter and up to the next eight quarters.
Public funds eligibility list law repealed
Beginning 07/01/2025, Iowa repeals section 12C.6A. This removes the law that set which banks could accept public funds. How eligibility works now depends on other laws and agency actions.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON STATE GOVERNMENT
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 4/7/2025
Passed Senate
Yes: 47 • No: 0
House vote • 3/25/2025
Passed House
Yes: 97 • No: 0
Actions Timeline
Signed by Governor.
4/25/2025GovernorReported correctly enrolled, signed by Speaker and President, and sent to Governor.
4/24/2025SenateExplanation of vote.
4/22/2025legislatureMessage from Senate.
4/8/2025SenateImmediate message.
4/7/2025legislaturePassed Senate, yeas 47, nays 0.
4/7/2025SenateSubstituted for SF 458.
4/7/2025legislaturePlaced on calendar under unfinished business.
4/3/2025legislatureRead first time, attached to SF 458.
3/25/2025legislatureMessage from House.
3/25/2025HouseImmediate message.
3/25/2025legislaturePassed House, yeas 97, nays 0.
3/25/2025HouseAmendment H-1121 withdrawn.
3/25/2025legislatureAmendment H-1121 filed.
3/18/2025legislatureIntroduced, placed on calendar.
3/7/2025legislature
Bill Text
As Introduced
Enrolled
Related Bills
SF 2411 — A bill for an act establishing an Iowa-Ireland trade commission. (Formerly SF 2268.) Effective date: 07/01/2026.
HF 2357 — A bill for an act relating to statutory corrections that adjust language to reflect current practices, correct grammar, insert earlier omissions, delete redundancies and inaccuracies, resolve inconsistencies and conflicts, remove ambiguities, and establish Code editor directives. (Formerly HSB 615.) Effective date: 07/01/2026.
HF 2619 — A bill for an act creating the uniform family law arbitration Act. (Formerly HF 2277.) Effective date: 07/01/2026.
HF 2680 — A bill for an act relating to certified medication aides. (Formerly HSB 729.) Effective date: 07/01/2026.
HF 2227 — A bill for an act relating to land restoration following the initial construction of electric transmission lines, and including effective date and retroactive applicability provisions. (Formerly HSB 526.) Effective date: 04/16/2026. Applicability date: 07/01/2024.
HF 2500 — A bill for an act relating to contracts entered into by state agencies and including applicability provisions. (Formerly HSB 583.) Effective date: 07/01/2026. Applicability date: 07/01/2026.