A bill for an act relating to licensing of service companies, motor vehicle service contracts, and residential service contracts, and providing civil penalties.

SSB 3057 requires service companies selling motor vehicle or residential service contracts in Iowa to obtain and maintain a state license. It mandates detailed applications including ownership information, proof of good standing, and biographical affidavits for key personnel, with fees totaling $535 per contract type. Companies must report ownership changes, disciplinary actions in other states, and criminal prosecutions involving leadership within 30 days. The bill establishes civil penalties for non-compliance and creates a "service company oversight fund" to manage collected fees. This directly affects businesses offering these contracts, not consumers or end-users.