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IA SF2054

Bill

Official Source

Status

Introduced

1/14/2026

Primary Sponsor

Annette Sweeney

Click for details

Origin

Senate

91st General Assembly

AI Summary

  • Increases the wedding/engagement ring exemption from $7,000 to $11,150 and other jewelry exemption from $2,000 to $3,175 for debtors in bankruptcy proceedings
  • Raises the household goods and furnishings exemption from $7,000 to $11,150, covering items like appliances, electronics, computers, and furniture
  • Increases the life insurance policy interest exemption from $10,000 to $27,275 for policies where the beneficiary is a spouse, child, or dependent
  • Raises the private libraries, paintings, and pictures exemption from $1,000 to $2,725
  • Explicitly extends personal property exemptions to debtors filing bankruptcy petitions under Iowa law, matching existing homestead exemption language

Legislative Description

A bill for an act related to bankruptcy and personal property exemption amounts and including effective date provisions.

Last Action

Subcommittee recommends passage.

1/21/2026

Committee Referrals

Judiciary1/14/2026

Full Bill Text

No bill text available