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IA HF2596

Bill

Official Source

Status

Engrossed

2/26/2026

Primary Sponsor

Agriculture

Click for details

Origin

House of Representatives

91st General Assembly

AI Summary

  • Grain dealers must submit financial statements accompanied by an unqualified audit opinion from a certified public accountant licensed in Iowa.
  • Grain dealers who do not purchase grain by credit-sale contract may submit alternative documentation, including qualified audit opinions that are unavoidable under generally accepted accounting principles, or CPA review reports instead of full audits.
  • The department is limited to requiring no more than one unqualified audit opinion per year from grain dealers, though additional financial statements may be required to verify financial status or compliance.
  • The bill amends the definition of "delivery" in grain transactions to include a new subparagraph structure clarifying the transfer of title and possession of grain from seller to grain dealer.
  • Passed by the Iowa House on February 26, 2026, with an effective date provision included.

Legislative Description

A bill for an act regulating the marketing of grain, making penalties applicable, and including effective date provisions. (Formerly HSB 745.)

Last Action

Subcommittee recommends passage.

3/12/2026

Committee Referrals

Agriculture3/2/2026

Full Bill Text

No bill text available