HF 2329: A bill for an act relating to interest rates and charges on regulated loans, and consumer credit transaction service charges. - Iowa

Enrolled with Governor's Action → Reprinted · 6 edits

MODERATE

The bill was reprinted to correct formatting and numbering errors found in the enrolled version. The substantive policy content regarding interest rates and service charges remains unchanged, though the text includes several obvious typos (e.g., 'July 4, 1965' instead of the current year, and 'ten either three percent' instead of 'ten percent or three percent').

TECHNICAL

Corrected the header to reflect that this is a reprint of the bill as passed by the House, rather than the enrolled version with the Governor's action.

Fixed line numbering and spacing inconsistencies throughout the document to match standard legislative formatting.

Removed the 'Approved' date line and Speaker/Clerk signatures from the enrolled version, as these are no longer relevant in a reprint.

Corrected a typo in Section 2 where 'The' was accidentally capitalized and inserted into the sentence.

Corrected a typo in Section 2, line 28, where the number '4' was inserted in the middle of the sentence regarding the ten thousand dollar threshold.

Corrected a typo in Section 4, line 34, where the text reads 'ten either three percent' instead of 'ten percent or three percent'.

Enrolled → Enrolled with Governor's Action · 1 edit · May 2, 2026

MINOR

The bill text was reformatted from a line-by-line layout to a standard paragraph format, but the substantive policy content, interest rate limits, and service charge rules remained identical. No new laws, funding amounts, or eligibility criteria were added or removed.

TECHNICAL

The document layout was converted from a vertical line-by-line format to a standard paragraph structure, while the actual legislative text and legal requirements stayed exactly the same.

Signed Enrolled Bill (PDF) → Enrolled · 2 edits · May 2, 2026

MINOR

The document format changed from a Governor's signature page to the official enrolled version signed by both the Speaker of the House and the President of the Senate. The substantive text of the bill, which sets interest rate caps on consumer loans, remains identical in both versions.

TECHNICAL

Added signatures for the Speaker of the House (Pat Grassley) and President of the Senate (Amy Sinclair) and the Chief Clerk of the House (Meghan Nelson), converting the document from a Governor's transmittal to the final enrolled bill.

Removed the Governor's signature block, transmittal letter, and the handwritten-style signature lines that were present in the signed version.

Introduced → Signed Enrolled Bill (PDF) · 3 edits · May 2, 2026

MINOR

This bill transitions from a draft proposal to an officially signed law, retaining the core policy of eliminating the Superintendent of Banking's authority to set interest rates on regulated loans. The enacted text establishes fixed maximum interest rates and service charge limits, effectively removing the regulator's ability to adjust these figures based on market conditions.

Scope change

The scope of the bill remains focused on regulating interest rates and service charges for consumer loans, but the enforcement mechanism shifts from regulatory discretion to a fixed statutory schedule.

ENFORCEMENT

The bill removes the Superintendent of Banking's authority to investigate loan conditions and refix maximum interest rates, replacing regulatory oversight with a static statutory framework.

REQUIREMENT

Specific interest rate caps are codified into law, setting a maximum of 3% per month on the first $150 of a loan, 2% on the next $150, 1.5% on the next $400, and 1% on any amount exceeding $700.

TECHNICAL

The document format changed from a committee-drafted bill to a formal enrolled bill, including the Governor's signature, date of approval, and official certification by the Secretary of State.

A bill for an act relating to interest rates and charges on regulated loans, and consumer credit transaction service charges.

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