Iowa SF505: A BILL FOR An Act codifying a firsthome program administered by the Iowa finance authority

What the bill says

A bill FOR An Act codifying a firsthome program administered by the Iowa finance authority.

From the introduced text, March 4, 2025:

A BILL FOR An Act codifying a firsthome program administered by the Iowa finance authority. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 2720XS (4) nls/ko S.F. Section 1. NEW SECTION. 16.54A Firsthome program. 1. For the purposes of this section: a. "First-time homebuyer" means any of the following: (1) An individual who has not owned a primary residence in the last three consecutive years immediately prior to the date of the individual's application for the firsthome program. (2) A member of the military who has not previously used a mortgage revenue bond program to finance a home purchase. (3) An individual who is purchasing a home in a targeted area as determined by the authority. b. "Member of the military" means any of the following: (1) An individual who has served ninety days active duty between August 2, 1990, and April 6, 1991, or September 11, 2001, to the date of application for the firsthome program. The ninety days of active duty may be cumulative, but are not required to be consecutive. Inactive duty training, annual training, and active duty for training shall not count toward the ninety days. (2) An individual who is a former member of the national guard, or a reserve or regular component of the armed forces of the United …

Read the full official text

Sponsors

• Matt Blake (D, 22) · primary sponsor
• Liz Bennett (D, 39)
• Janice Weiner (D, 45)
• Dotzler Jr., William A. (D, 31)
• Molly Donahue (D, 37)
• Cindy Winckler (D, 49)
• Mike Zimmer (D, 35)
• Thomas Townsend (D, 36)
• Art Staed (D, 40)
• Janet Petersen (D, 18)
• Herman Quirmbach (D, 25)
• Tony Bisignano (D, 15)

Latest actions

1. March 11, 2025: Subcommittee: Rozenboom, Schultz, and Staed. S.J. 491 .
2. March 4, 2025: Introduced, referred to State Government. S.J. 402 .

Common questions

What is SF505?

SF505 is a bill in the Iowa Legislature (91st General Assembly): A BILL FOR An Act codifying a firsthome program administered by the Iowa finance authority.

What does SF505 do?

In its own words: A bill FOR An Act codifying a firsthome program administered by the Iowa finance authority.

What is the status of SF505?

In committee as of March 11, 2025. Latest action: Subcommittee: Rozenboom, Schultz, and Staed. S.J. 491 . (March 11, 2025).

Who sponsored SF505?

Matt Blake (D, 22), with 11 co-sponsors.

Where is the official record for SF505?

On the Iowa Legislature website: https://www.legis.iowa.gov/legislation/BillBook?ba=SF+0505&ga=91