Senate File 2069 - Introduced



                                  SENATE FILE       
                                  BY  BEALL, DANIELSON, DOTZLER,
                                      HECKROTH, DVORSKY, WARNSTADT,
                                      HORN, SENG, HATCH, DEARDEN,
                                      QUIRMBACH, APPEL, COURTNEY,
                                      KIBBIE, FRAISE, BLACK, McCOY,
                                      CONNOLLY, STEWART, RAGAN,
                                      and SCHMITZ



    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act imposing a criminal penalty for violating the maximum rate
  2    of interest provisions of the national guard civil relief law.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5702XS 82
  5 ec/nh/24

PAG LIN



  1  1    Section 1.  Section 29A.99, Code 2007, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  5.  A person who knowingly violates this
  1  4 section commits a simple misdemeanor.
  1  5                           EXPLANATION
  1  6    This bill provides that a person who knowingly violates the
  1  7 provisions of Code section 29A.99, the Iowa national guard
  1  8 civil relief law concerning maximum rate of interest, commits
  1  9 a simple misdemeanor.  Code section 29A.99 provides that an
  1 10 obligation of a member of the military forces of the state
  1 11 performing military service bearing interest at a rate in
  1 12 excess of 6 percent shall have that interest rate reduced to 6
  1 13 percent during the service member's period of military
  1 14 service.
  1 15 LSB 5702XS 82
  1 16 ec/nh/24