The civic record
Read. Follow. Verify.Iowa enacts Uniform Assignment for Benefit of Creditors Act and exempts real estate transfer tax starting January 2027
Last action · June 2, 2026: Signed by Governor . S.J. 1033 .Sponsor: Annette Sweeney
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
Senate File 2213 repeals Iowa's existing assignment-for-benefit-of-creditors statute and replaces it with the Uniform Assignment for Benefit of Creditors Act, establishing structured rules for liquidating debtor assets and exempting related real estate transfers from state transfer taxes beginning January 1, 2027.
The law alters how financially distressed businesses and individuals liquidate assets to pay creditors, changing fiduciary duties, claim priority rules, court oversight, and eliminating transfer tax liabilities on real property assets moved under an assignment agreement.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Creditors
Creditors receive notifications, must submit proofs of claim within 120 days, and have their claims evaluated and paid based on established statutory priority tiers.
Assignors
Debtors transferring assets must cooperate with the assignee, provide comprehensive lists of assets, employees, and creditors under penalty of perjury, and are discharged from personal liability for assignee acts.
Assignees
Independent fiduciaries take title to assigned assets, manage administrative duties, maintain separate accounts, examine claims, and make pro rata distributions to creditors.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is an assignment for the benefit of creditors (ABC)?
What is the deadline for creditors to submit a proof of claim?
Are real estate transfers taxed under this new act?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceWhere This Stands
Current status: Signed into law.
Procedural history
32 actions- Jun 2, 2026SenateEnrolledSigned by Governor . S.J. 1033 .
- May 18, 2026SenateReported correctly enrolled, signed by President and Speaker, and sent to Governor. S.J. 1028 .
- May 3, 2026SenateImmediate message. S.J. 1001 .
- May 3, 2026SenateFloorPassed Senate , yeas 45, nays 0. S.J. 1000 .
- May 3, 2026SenateFloorSenate concurred with S-5257 . S.J. 1000 .
- May 2, 2026HouseMessage from Senate. H.J. 1135 .
Show 26 earlier actions
- May 2, 2026HouseMessage from House, with amendment S-5257 . S.J. 991 .
- May 2, 2026HouseImmediate message. H.J. 1127 .
- May 2, 2026HouseExplanation of vote. H.J. 1159 .
- May 2, 2026HouseFloorPassed House , yeas 86, nays 0. H.J. 1119 .
- May 2, 2026HouseFloorAmendment H-8473 filed, adopted. H.J. 1119 .
- May 1, 2026HousePlaced on Ways and Means calendar. H.J. 1085 .
- May 1, 2026HouseCommittee vote: Yeas, 24. Nays, 0. Excused, 1. H.J. 1085 .
- May 1, 2026HouseCommittee report, recommending passage. H.J. 1085 .
- May 1, 2026HouseSubcommittee: Gustoff, Jacoby and Jones. H.J. 1083 .
- Apr 21, 2026HouseIntroducedRead first time, referred to Ways and Means. H.J. 956 .
- Apr 20, 2026HouseMessage from Senate. H.J. 949 .
- Apr 20, 2026SenateImmediate message. S.J. 839 .
- Apr 20, 2026SenateFloorPassed Senate , yeas 44, nays 0. S.J. 837 .
- Apr 15, 2026SenateCommittee report, approving bill. S.J. 808 .
- Apr 15, 2026SenateIntroducedIntroduced, placed on Ways and Means calendar. S.J. 805 .
- Apr 15, 2026SenateCommittee report approving bill, renumbered as SF 2497 . S.J. 808 .
- Mar 10, 2026Iowa LegislatureSubcommittee recommends passage.
- Mar 5, 2026Iowa LegislatureSubcommittee Meeting: 03/10/2026 1:00PM Room 315.
- Feb 26, 2026SenateSubcommittee: Bousselot, Koelker, and Quirmbach. S.J. 418 .
- Feb 24, 2026SenateCommitteeReferred to Ways and Means. S.J. 376 .
- Feb 19, 2026Iowa LegislaturePlaced on calendar.
- Feb 19, 2026SenateCommittee report, recommending passage. S.J. 335 .
- Feb 12, 2026Iowa LegislatureSubcommittee recommends passage.
- Feb 11, 2026Iowa LegislatureSubcommittee Meeting: 02/12/2026 12:30PM Room 315.
- Feb 10, 2026SenateSubcommittee: Bousselot, Blake, and Webster. S.J. 244 .
- Feb 5, 2026SenateIntroducedIntroduced, referred to Judiciary. S.J. 210 .
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Replacement of Chapter 681
The state completely repeals legacy Code chapter 681 and modernizes commercial liquidation law using the 2025 Uniform Law Commission recommendation.
Connected Entities
Sources
www.legis.iowa.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
Publisher tools