A bill for an act creating a specialty business court, providing fees, and including effective date and applicability provisions.

This bill establishes a new specialty business court in Iowa to handle complex commercial disputes involving various organizations, such as corporations, partnerships, and limited liability companies. This court would have statewide jurisdiction, concurrent with existing district courts, over specific types of cases. These include derivative actions, disputes over an organization's internal affairs or governance, and certain contract or securities-related actions where the amount in controversy often exceeds $10 million or involves "qualified transactions" worth at least $1 million. However, it generally excludes cases involving governmental entities or claims for personal injury or death, unless all parties agree to proceed in the business court.