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SF 246

A bill for an act relating to interest on state moneys invested in depository time certificates of deposit.

2025-2026 Regular Session Introduced by Lynn Evans

SF 246 modifies Iowa state law regarding interest income from certificates of deposit, potentially affecting how the state accounts for and allocates earnings on invested funds.

Subcommittee: Driscoll, Webster, and Weiner.
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Bill Summary · SF 246

Legislative bill overview

SF 246 would modify Iowa's statutory provisions governing how the state handles interest earned on money invested in certificates of deposit (CDs) held at depository institutions. The bill appears to address the treatment, allocation, or accounting of interest income generated from state funds placed in time CDs. This is a technical measure affecting state treasury management practices.

Why is this important

Interest earnings on state deposits, while seemingly technical, represent actual revenue to the state that funds government operations. How these earnings are allocated—whether to the general fund, specific accounts, or other uses—can affect state budget availability and fiscal planning. The change likely addresses either a gap in current law or an inefficiency in how interest is currently being handled.

Potential points of contention

  • Fiscal impact ambiguity: Without seeing the bill's specific language, it's unclear whether this increases or decreases interest revenue available to the state budget, affecting appropriations
  • Depository institution effects: Changes to interest treatment could influence where the state deposits funds and banking relationships with Iowa financial institutions
  • Technical vs. substantive scope: The bill may be narrowly technical (updating outdated language) or substantive (redirecting millions in interest revenue), which affects its importance level

Compiled from official sources — confirm details with the bill’s official record.

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