House File 240 - Introduced



                                       HOUSE FILE       
                                       BY  BERRY


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

                                      A BILL FOR

  1 An Act relating to the setting aside of a portion of child
  2    support payments in a separate fund to be invested and
  3    reserved for the child.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 2166HH 83
  6 pf/nh/5

PAG LIN



  1  1    Section 1.  Section 598.21B, subsection 1, Code 2009, is
  1  2 amended by adding the following new paragraph:
  1  3    NEW PARAGRAPH.  bb.  The guidelines prescribed by the
  1  4 supreme court shall provide that ten percent of the child
  1  5 support amount which either party is ordered to pay is set
  1  6 aside in a separate fund and invested in a well=balanced
  1  7 financial portfolio to be reserved for the child until the
  1  8 child reaches the age of twenty=five, unless the court
  1  9 determines setting aside such amount is not in the best
  1 10 interest of the child.
  1 11                           EXPLANATION
  1 12    This bill directs that the child support guidelines are to
  1 13 provide that 10 percent of child support paid by either parent
  1 14 is to be set aside in a separate fund and invested in a
  1 15 well=balanced financial portfolio to be reserved for the child
  1 16 until the child reaches age 25, unless the court determines
  1 17 setting aside such amount is not in the best interest of the
  1 18 child.
  1 19 LSB 2166HH 83
  1 20 pf/nh/5