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IA HF844
Bill
Status
4/25/2025
Primary Sponsor
State Government
Click for details
AI Summary
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Repeals Section 12C.6A of the Iowa Code, which established eligibility requirements for financial institutions to accept public fund deposits
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Amends Section 12B.10 to add reference to Section 12C.6A in provisions governing how uninsured portions of public funds may be invested through depositories in federally insured banks or savings associations
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Updates Section 12C.6 to include Section 12C.6A alongside existing provisions when referencing actions by the treasurer of state that are exempt from Chapter 17A (administrative procedures)
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Modifies Section 524.223 to allow the superintendent to recommend removal of a bank from the list of financial institutions eligible to accept public funds under Section 12C.6A when violations involve failure to comply with Chapter 12C requirements
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Effective date: July 1, 2025
Legislative Description
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.
Last Action
Signed by Governor. H.J. 1073.
4/25/2025