A bill for an act providing for investment by regents institutions in certified innovation funds and including effective date provisions.

This bill requires Iowa's three regents universities (University of Iowa, Iowa State University, and University of Northern Iowa) to invest at least 1% of their total endowment assets into state-certified innovation funds by July 1, 2027. Institutions retain discretion over which funds to invest in, when to invest, and how to structure commitments, while maintaining fiduciary standards. The bill includes a one-year waiver option for institutions facing insufficient fund capacity or unfavorable market conditions, and mandates annual reports detailing investment amounts, fund names, and economic impact. It aims to boost commercialization of university research and strengthen Iowa's innovation ecosystem without altering donor intent or endowment spending policies.