IA HF2698

Creates new Iowa Code chapter 558C regulating "residential arrangements" where purchasers buy interests in business entities (partnerships, LLCs, trusts, etc.) that own single-family homes, duplexes, triplexes, or quadruplexes rather than buying the property directly

Requires managing entities to disclose to purchasers that they are buying an interest in a business entity, not actual residential property

Prohibits managing entities from requiring dispute resolution outside Iowa or federal courts, and bars them from restricting interest transfers, charging transfer fees, or sharing in sale proceeds

Extends Iowa Civil Rights Act (Chapter 216) protections to these arrangements, prohibiting discriminatory practices in granting, transferring, or maintaining ownership interests

Establishes violations as unlawful practices under consumer protection laws, with courts empowered to enjoin development activities and block violators from receiving public funds or operating as public utilities; takes effect immediately upon enactment