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.

Iowa House File 844 (HF844) establishes criteria for financial institutions to qualify for holding public funds. It allows public funds to be invested in insured deposits or certificates of deposit through depositories, even if these are placed in federally insured banks or savings associations located outside Iowa, provided certain conditions are met. The bill was signed into law by the Governor on April 25, 2025, and became effective on July 1, 2025. ([legiscan.com](https://legiscan.com/IA/text/HF844/2025?utm_source=openai))

The bill received unanimous support in both the Iowa House and Senate, indicating broad bipartisan approval. The House passed the bill with 97 votes in favor and 0 against, while the Senate passed it with 47 votes in favor and 0 against. ([legiscan.com](https://legiscan.com/IA/rollcall/HF844/id/1539215?utm_source=openai)) This strong support suggests that the legislation was viewed favorably across the political spectrum.

No significant negative media coverage or public opposition to HF844 was reported. The absence of dissenting votes and media reports indicates that the bill was generally well-received and did not face substantial criticism.