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.

SSB 1194 establishes two new state funds to improve financial education and combat financial exploitation. It redirects $10 from each $40 insurance agent registration fee into these funds - $5 for public financial literacy programs and $5 for prevention initiatives targeting vulnerable individuals. The bill also allows transfers from the commerce revolving fund and civil penalties to support these efforts, with funds used for public education, victim assistance, and investigations. These changes directly affect Iowans through expanded access to financial education resources and enhanced protections against financial exploitation.