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164 chapters · 3,415 sections in this title.
Iowa Code § 541B.1 Short title.
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This chapter may be cited as the “Iowa First-Time Homebuyer Savings Account Act” . 2017 Acts, ch 116, §3
Iowa Code § 541B.2 Definitions.
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As used in this chapter , unless the context otherwise requires: 1. “Account holder” means an individual who establishes, either individually or jointly with the individual’s spouse, a first-time homebuyer savings account pursuant to section 541B.3 . 2. “Department” means the dep…
Iowa Code § 541B.3 First-time homebuyer savings account.
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1. Establishment of account. a. An individual may open an interest-bearing savings account with a financial institution and designate the entire account as a first-time homebuyer savings account for the purpose of paying or reimbursing a designated beneficiary’s eligible home cos…
Iowa Code § 541B.4 Account administration — account holder responsibilities.
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1. Account contributions. Contributions to a first-time homebuyer savings account may be made by any person in the form of cash. There is no limitation on the amount of contributions that may be made to or retained in a first-time homebuyer savings account. 2. Account expenses. T…