A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.

This bill creates two new funds managed by Iowa's Department of Insurance: the Financial Literacy and Investor Education Fund and the Financial Exploitation Prevention Fund. It directs $10 from each $40 insurance agent registration fee (paid by agents) into these funds, with additional funding sources including civil penalties and transfers from the commerce revolving fund. The funds will support public education on financial topics, prevent financial exploitation of vulnerable adults, and assist victims of such exploitation. The bill specifies how these funds can be used, including collaborative programs with community organizations, and includes confidentiality rules for exploitation investigation records.