Iowa SSB1061 amends eligibility requirements for financial institutions accepting public funds.

Iowa SSB1061 repeals Code section 12C.6A, which previously prohibited public funds from being deposited in financial institutions that did not demonstrate a commitment to serving local communities. The bill also removes the requirement for the treasurer of state to create a list of eligible financial institutions and eliminates the need for public comments and annual submissions from these institutions. The changes streamline the process for financial institutions to accept public funds.

Iowa SSB1061 amends eligibility requirements for financial institutions accepting public funds.

Iowa SSB1061 repeals Code section 12C.6A, which previously prohibited public funds from being deposited in financial institutions that did not demonstrate a commitment to serving local communities. The bill also removes the requirement for the treasurer of state to create a list of eligible financial institutions and eliminates the need for public comments and annual submissions from these institutions. The changes streamline the process for financial institutions to accept public funds.