Commerce

SF 413 amends Iowa law governing state bank boards of directors. It requires that at least three board members be Iowa residents (previously only required a majority of residents), and mandates that boards hold at least one regular meeting in each calendar quarter while maintaining a minimum of nine annual meetings. The bill directly affects state bank boards by changing their membership residency rules and meeting schedule requirements. These are procedural changes to board governance, not substantive banking policy. The bill passed the Iowa Senate unanimously on March 10, 2025.

This bill prohibits Iowa from issuing or renewing licenses for hospitals or health care facilities operated by entities from China, Russia, or North Korea. Specifically, it blocks licenses for government-owned entities from those countries, businesses where a majority is owned by such entities, or individuals who are citizens of those nations. The law applies to both hospitals (under Section 135B.3) and broader health care facilities (under Section 135C.6). It directly affects foreign government-linked businesses seeking to operate health care services in Iowa, with no exemptions for existing facilities. The policy change is limited to licensure requirements, not banning current operations.

HF 2032 allows Iowa water and wastewater utilities to recover costs for specific infrastructure upgrades through new "system enhancement charges" on customer bills. It directly affects investor-owned utilities regulated by the Iowa Utilities Commission, enabling them to recover expenses for projects like replacing aging systems, installing new infrastructure for safety/environmental protection, or complying with federal/state regulations. Utilities must first get commission approval for a multiyear plan detailing costs and benefits before implementing these charges, with the commission requiring the plan to include cost estimates, engineering reports, and evidence of compliance with environmental rules. The bill defines "system enhancement costs" to include capital expenses, operations, and a pretax return, but explicitly excludes fines or penalties.

HF 2033 requires pharmacies in Iowa to provide free accessible prescription information (including labels, bag tags, and medical guides) in formats like braille or audio to people who are blind, visually impaired, or have other print disabilities. Pharmacies must offer this directly or refer patients to an accessible location within a reasonable distance, with information provided in a timely manner comparable to non-disabled patients. Health insurers must reimburse pharmacies through an enhanced dispensing fee, and the pharmacy board must publish an annual list of compliant pharmacies online. The law excludes institutional pharmacies (e.g., hospital pharmacies) and certain correctional or donation-based settings, with rules to be adopted by January 1, 2027, and a progress report due by January 2028.

This bill temporarily prevents gas and electric public utilities in Iowa from raising customer rates or charges through December 31, 2030. It applies to all utilities providing gas or electric service, including smaller providers, electric cooperatives, and municipally owned utilities. The law prohibits any new or changed rates, automatic adjustments, or temporary rate increases that would result in higher bills for customers during this period. The Iowa Utilities Commission will oversee the regulation of this rate freeze for smaller utility providers. The bill takes effect immediately upon enactment.