Loading chat...
IA SSB1203
SB
AI Summary
-
Creates a specialty Business Court of Iowa with statewide jurisdiction over complex commercial disputes, including derivative actions, transactions involving $1 million or more, corporate governance disputes, securities claims, and controversies exceeding $10 million
-
Requires the governor to appoint three judges (confirmed by Senate) to two-year renewable terms; judges must be at least 35 years old, U.S. citizens, Iowa residents for two years, and licensed attorneys with 10+ years of experience in business litigation, transactions law, or related judicial service
-
Prohibits business court judges from residing in the same county as each other and bars them from private law practice; judges receive the same salary as district court judges
-
Excludes from business court jurisdiction claims brought by or against governmental entities (unless they consent), personal injury or death claims, consumer protection claims under section 714.16, and probate matters under chapters 633 and 633A
-
Takes effect September 1, 2025, with the court beginning operations January 1, 2027, contingent on the general assembly appropriating specific funding for the business court
Legislative Description
A bill for an act creating a specialty business court, providing fees, and including effective date and applicability provisions.(See SF 570, SF 639.)
Last Action
Committee report approving bill, renumbered as SF 570.
3/6/2025