S-3070

   Amend Senate File 346 as follows:
   1.  By striking page 1, line 35, through page 2, line 4, and inserting <and accessible by the general public. “Intermediary” also means an entity registered with the administrator as an Iowa crowdfunding portal.>
   2.  Page 2, after line 9 by inserting: 
   <(3)  “Iowa crowdfunding portal” means an entity incorporated or organized under the laws of this state, authorized to do business in this state, and engaged exclusively in intrastate crowdfunding offers and sales of exempt securities in this state through an internet site and which does not operate or facilitate a secondary market in securities.>
   3.  Page 5, after line 31 by inserting: 
   <Sec. ___.  Section 505.19, Code 2015, is amended by adding the following new subsection:
   NEW SUBSECTION.  4A.  Notwithstanding subsection 1, a health insurance carrier licensed to do business in this state that participates in the health benefits exchange used in this state and created pursuant to the federal Patient Protection and Affordable Care Act, Pub. L. No. 111-148, as amended by the federal Health Care and Education Reconciliation Act of 2010, Pub. L. No. 111-152, shall not be subject to the requirements of this section for health plans issued by the health insurance carrier that are filed and purchased within the exchange or the matching health plans issued by the health insurance carrier that are purchased outside of the exchange. However, such a health insurance carrier shall inform policyholders who purchase such health plans of their total premium due and any rate increases to their premium for each upcoming policy year. Such notice shall be provided thirty days prior to the beginning of open enrollment for the health plans and shall provide policyholders with information about how the policyholder can contact the insurance division to submit a comment about a proposed rate increase. A health insurance carrier subject to this subsection shall be subject to all applicable other state and federal laws.>
   4.  Page 15, by striking lines 4 through 19.
   5.  Page 19, line 17, by striking <may> and inserting <shall>
   6.  By renumbering as necessary.

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MATT McCOY