reglab/housing_qa huggingface dataset:
IA Code § 540A.109 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 540A - INSTITUTIONAL FUNDS MANAGEMENT|Section 540A.109 - Uniformity of application and construction.

540A.109 Uniformity of application and construction.   This chapter shall be applied and construed with consideration given to the need to promote uniformity of the law with respect to the uniform prudent management of institutional funds Act among states which enact this law.  2008 Acts, ch 1066, §9, 11
IA Code § 541.202 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541 - NEGOTIATING INSTRUMENTS ON HOLIDAY|Section 541.202 - Negotiating instrument on holiday.

541.202 Negotiating instrument on holiday.   Nothing in any law of this state shall in any manner whatsoever affect the validity of, or render void or voidable, the payment, certification, or acceptance of a check or other negotiable instrument or any other transaction by a bank or trust company in this state because done or performed on any legal holiday or during any time other than regular banking hours, if such payment, certification, acceptance or other transaction could have been validly done or performed on any other day; provided that nothing herein shall be construed to compel any bank or trust company in this state, which by law or custom is entitled to close for the whole or any part of any legal holiday, to keep open for the transaction of business or to perform any of the acts or transactions aforesaid on any legal holiday except at its own option.  [C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §541.202]
IA Code § 541A.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.1 - Definitions.

541A.1 Definitions.   For the purposes of this chapter, unless the context otherwise requires:   1. “Account holder” means an individual who is the owner of an individual development account.   2. “Administrator” means the division of community action agencies of the department of human rights.   3. “Charitable contributor” means a nonprofit association described in section 501(c)(3) of the Internal Revenue Code which makes a deposit to an individual development account and which is exempt from taxation under section 501(a) of the Internal Revenue Code.   4. “Federal poverty level” means the first poverty income guidelines published in the calendar year by the United States department of health and human services.   5. “Financial institution” means a financial institution approved by the administrator as an investment mechanism for individual development accounts.   6. “Household income” means the annual household income of an account holder or prospective account holder, as determined in accordance with rules adopted by the administrator.   7. “Individual contributor” means an individual who makes a deposit to an individual development account and is not the account holder or a charitable contributor.   8. “Individual development account” means either of the following:   a. A financial instrument that is certified to have the characteristics described in section 541A.2 by the operating organization.   b. A financial instrument that is certified by the operating organization to have the characteristics described in and funded by a federal individual development account program under which federal and state funding contributed to match account holder deposits is deposited by an operating organization in accordance with federal law and regulations, and which includes but is not limited to any of the programs implemented under the following federal laws:   (1) The federal Personal Responsibility and Work Opportunity Act of 1996, 42 U.S.C. §604(h).   (2) The federal Assets for Independence Act, Pub. L. No. 105-285, Tit. IV.   9. “Operating organization” means an agency selected by the administrator for involvement in operating individual development accounts directed to a specific target population.   10. “Source of principal” means any of the sources of a deposit to an individual development account under section 541A.2, subsection 2.  93 Acts, ch 97, §16; 94 Acts, ch 1114, §23; 2002 Acts, ch 1175, §38; 2006 Acts, ch 1016, §2, 8; 2008 Acts, ch 1178, §9, 10, 17; 2010 Acts, ch 1061, §180
IA Code § 541A.3 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.3 - Individual development accounts — state savings match and tax provisions.

541A.3 Individual development accounts — state savings match and tax provisions.   All of the following state savings match and tax provisions shall apply to an individual development account:   1. a. Payment by the state of a state savings match on amounts of up to two thousand dollars that an account holder deposits in the account holder’s account.   b. Moneys transferred to an individual development account from another individual development account and a state savings match received by the account holder in accordance with this section shall not be considered an account holder deposit for purposes of determining a state savings match.   c. Payment of a state savings match either shall be made directly to the account holder or to an operating organization’s central reserve account for later distribution to the account holder in the most appropriate manner as determined by the administrator.   d. Subject to the limitation in paragraph “a”, the state savings match shall be equal to one hundred percent of the amount deposited by the account holder. However, the administrator may limit, reduce, delay, or otherwise revise state savings match payment provisions as necessary to restrict the payments to the funding available.   2. Income earned by an individual development account is not subject to state tax, in accordance with the provisions of section 422.7, subsection 28.   3. Amounts transferred between individual development accounts are not subject to state tax.   4. The administrator shall coordinate the filing of claims for a state savings match authorized under subsection 1, between account holders and operating organizations. Claims approved by the administrator may be paid to each account holder, for an aggregate amount for distribution to the holders of the accounts in a particular financial institution, or to an operating organization’s central reserve account for later distribution to the account holders depending on the efficiency for issuing the state savings match payments. Claims shall be initially filed with the administrator on or before a date established by the administrator. Claims approved by the administrator shall be paid from the individual development account state savings match fund.  93 Acts, ch 97, §18; 96 Acts, ch 1106, §11; 98 Acts, ch 1218, §78, 84; 2002 Acts, ch 1175, §39, 40; 2003 Acts, ch 145, §286; 2006 Acts, ch 1016, §5, 6, 8; 2006 Acts, ch 1185, §123; 2008 Acts, ch 1178, §13, 17; 2009 Acts, ch 70, §3, 5; 2009 Acts, ch 133, §170  Referred to in §422.7(28)(b), 541A.5, 541A.7
IA Code § 541A.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.4 - Individual development account — pilot phase.

541A.4 Individual development account — pilot phase. Repealed by  2006 Acts, ch 1016, §7, 8  .
IA Code § 541A.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.5 - Rules.

541A.5 Rules.   1. The commission on community action agencies created in section 216A.92A, in consultation with the department of administrative services, shall adopt administrative rules to administer this chapter.   2. a. The rules adopted by the commission shall include but are not limited to provision for transfer of an individual development account to a different financial institution than originally approved by the administrator, if the different financial institution has an agreement with the account’s operating organization.   b. The rules for determining household income may provide categorical eligibility for prospective account holders who are enrolled in programs with income eligibility restrictions that are equal to or less than the maximum household income allowed for payment of a state match under section 541A.3.   c. Subject to the availability of funding, the commission may adopt rules implementing an individual development account program for refugees. Rules shall identify purposes authorized for withdrawals to meet the special needs of refugee families.   3. The administrator shall utilize a request for proposals process for selection of operating organizations and approval of financial institutions.  94 Acts, ch 1114, §25; 96 Acts, ch 1106, §14; 2003 Acts, ch 145, §286; 2008 Acts, ch 1178, §14, 17; 2009 Acts, ch 70, §4, 5
IA Code § 541A.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.6 - Compliance with federal requirements.

541A.6 Compliance with federal requirements.   The commission on community action agencies shall adopt rules for compliance with federal individual development account requirements under the federal Personal Responsibility and Work Opportunity Reconciliation Act of 1996, §103, as codified in 42 U.S.C. §604(h), under the federal Assets for Independence Act, Pub. L. No. 105-285, Tit. IV, or with any other federal individual development account program requirements for drawing federal funding. Any rules adopted under this section shall not apply the federal individual development account program requirements to an operating organization which does not utilize federal funding for the accounts with which it is connected or to an account holder who does not receive temporary assistance for needy families block grant or other federal funding.  99 Acts, ch 100, §4; 2008 Acts, ch 1178, §15, 17; 2010 Acts, ch 1061, §180
IA Code § 541A.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541A - INDIVIDUAL DEVELOPMENT ACCOUNTS|Section 541A.7 - Individual development account state match fund.

541A.7 Individual development account state match fund.   1. An individual development account state match fund is created in the state treasury under the authority of the administrator. Notwithstanding section 8.33, moneys appropriated to the fund shall not revert to any other fund. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the fund.   2. Moneys available in the fund for a fiscal year are appropriated to the administrator to be used to provide the state match for account holder deposits in accordance with section 541A.3. At least eighty-five percent of the amount appropriated shall be used for state match payments and the remainder may be used for the administrative costs of the operating organization. Administrative costs include but are not limited to accounting services, curriculum costs for financial education or asset-specific training, and costs for technical assistance contractors.  2008 Acts, ch 1178, §16, 17
IA Code § 541B.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.1 - Short title.

541B.1 Short title.   This chapter may be cited as the “Iowa First-Time Homebuyer Savings Account Act”.  2017 Acts, ch 116, §3
IA Code § 541B.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.2 - Definitions.

541B.2 Definitions.   As used in this chapter, unless the context otherwise requires:   1. “Account holder” means an individual who establishes, either individually or jointly with the individual’s spouse, a first-time homebuyer savings account pursuant to section 541B.3.   2. “Department” means the department of revenue.   3. “Designated beneficiary” means an individual meeting the requirements of section 541B.3, subsection 2, and designated by an account holder as beneficiary of the account holder’s first-time homebuyer savings account pursuant to section 541B.3, subsection 2.   4. a. “Eligible home costs” means the following:   (1) The down payment for the purchase of a single-family residence in Iowa by a designated beneficiary.   (2) A cost, fee, tax, or payment incurred by, or charged or assigned to, a designated beneficiary for the purchase of a single-family residence in Iowa, and listed on the statement of receipts and disbursements for the sale, including any statement prescribed by  12 C.F.R. §1026.38  , as amended.   b. “Eligible home costs” includes any United States veterans administration funding fee incurred by, or charged or assigned to, a designated beneficiary in connection with a veterans administration home loan guaranty program.   5. “Financial institution” means a state or federally chartered bank, savings and loan association, credit union, or trust company in this state.   6. “First-time homebuyer” means an individual who is a resident of Iowa and who does not own, either individually or jointly, a single-family or multifamily residence, and who has not owned or purchased, either individually or jointly, a single-family or multifamily residence for a period of three years prior to all of the following:   a. The date on which the individual is named as a designated beneficiary of a first-time homebuyer savings account.   b. The date of the qualified home purchase for which the eligible home costs are paid or reimbursed from a first-time homebuyer savings account.   7. “First-time homebuyer savings account” means an account that meets the requirements of sections 541B.3 and 541B.4 and that was established for the purpose of paying or reimbursing a designated beneficiary’s eligible home costs in connection with a qualified home purchase.   8. “Individual” means a natural person.   9. “Qualified home purchase” means, with respect to a first-time homebuyer savings account, the purchase of a single-family residence in Iowa by the account’s designated beneficiary ninety or more days after the date the account holder first opened a first-time homebuyer savings account.   10. “Resident” means the same as defined in section 422.4.   11. “Single-family residence” means a single-family residence owned and occupied by a designated beneficiary as the designated beneficiary’s principal residence, including but not limited to a manufactured home, mobile home, condominium unit, or cooperative.  2017 Acts, ch 116, §4  Referred to in §422.7(41)(e), 422.9
IA Code § 541B.3 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.3 - First-time homebuyer savings account.

541B.3 First-time homebuyer savings account.   1. Establishment of account.   a. Beginning January 1, 2018, an individual may open an interest-bearing savings account with a financial institution and designate the entire account as a first-time homebuyer savings account for the purpose of paying or reimbursing a designated beneficiary’s eligible home costs in connection with a qualified home purchase. The first-time homebuyer savings account designation shall be made no later than April 30 of the year following the tax year during which the account is opened, on forms provided by the department.   b. A married couple electing to file a joint Iowa individual income tax return may establish a joint first-time homebuyer savings account. Married taxpayers electing to file separate tax returns or separately on a combined tax return for Iowa tax purposes shall not establish or maintain a joint first-time homebuyer savings account.   c. An individual may establish more than one first-time homebuyer savings account, provided each account has a different designated beneficiary.   2. Designation of beneficiary.   a. The account holder shall designate one individual as beneficiary of the first-time homebuyer savings account. The designation shall be made on forms provided by the department and no later than April 30 of the year following the tax year during which the account is opened. The account holder may change the designated beneficiary of the first-time homebuyer savings account at any time.   b. The account holder and designated beneficiary of a first-time homebuyer savings account may be the same individual.   c. An individual may be the designated beneficiary of more than one first-time homebuyer savings account.   d. The designated beneficiary of a first-time homebuyer savings account must be a first-time homebuyer.  2017 Acts, ch 116, §5  Referred to in §541B.2, 541B.7  For future amendment to subsection 1, paragraph b, effective on or after January 1, 2023, contingent upon meeting certain net general fund revenue criteria, see 2018 Acts, ch 1161, §131, 133, 134
IA Code § 541B.4 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.4 - Account administration — account holder responsibilities.

541B.4 Account administration — account holder responsibilities.   1. Account contributions. Contributions to a first-time homebuyer savings account may be made by any person in the form of cash. There is no limitation on the amount of contributions that may be made to or retained in a first-time homebuyer savings account.   2. Account expenses. The account holder shall not use funds held in a first-time homebuyer savings account to pay expenses, if any, of administering the account, except that all fees and charges assessed by the financial institution may be deducted from the account by the financial institution where the account is held.   3. Required reports. The account holder shall submit the following information to the department:   a. An annual report for the first-time homebuyer savings account on forms furnished by the department. The report shall be included with the Iowa income tax return of the account holder.   b. A copy of the federal internal revenue service form 1099, or other similar federal internal revenue service income reporting form, if any, issued for the first-time homebuyer savings account to the account holder by the financial institution where the account is held. The form shall be included with the Iowa income tax return of the account holder.   c. Upon a withdrawal of funds from a first-time homebuyer savings account, a transaction report on forms furnished by the department.   4. Withdrawal of funds. The account holder may withdraw funds from a first-time homebuyer savings account at any time.  2017 Acts, ch 116, §6  Referred to in §541B.2, 541B.7
IA Code § 541B.5 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.5 - Financial institution protections.

541B.5 Financial institution protections.   Nothing in this chapter shall be construed to require a financial institution to do any of the following, or to be responsible or liable for any of the following:   1. Designate or label within the financial institution’s account contracts, systems, or in any other manner, an account as a first-time homebuyer savings account.   2. Ascertain or verify the purpose of a withdrawal of funds from a first-time homebuyer savings account, or track the destination or use of the withdrawn funds.   3. Allocate funds in a first-time homebuyer savings account to a designated beneficiary or among joint account holders.   4. Report any information to the department or any other governmental agency.   5. Determine or ensure that an account satisfies the requirements to be a first-time homebuyer savings account.   6. Determine or ensure that funds withdrawn from a first-time homebuyer savings account are used for the payment or reimbursement of a designated beneficiary’s eligible home costs in connection with a qualified home purchase.   7. Report or remit taxes or penalties related to the ownership or use of a first-time homebuyer savings account.   8. Include the name of a beneficiary in the title of a first-time homebuyer savings account, or document the change of any beneficiary to a first-time homebuyer savings account.  2017 Acts, ch 116, §7
IA Code § 541B.6 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.6 - Tax considerations.

541B.6 Tax considerations.   The state income tax treatment of a first-time homebuyer savings account shall be as provided in section 422.7, subsection 41, and section 422.9, subsection 2, paragraph “k”.  2017 Acts, ch 116, §8  For future amendment to this section, effective on or after January 1, 2023, contingent upon meeting certain net general fund revenue criteria, see 2018 Acts, ch 1161, §132 – 134
IA Code § 541B.7 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 541B - IOWA FIRST-TIME HOMEBUYER SAVINGS ACCOUNT ACT|Section 541B.7 - Rules and forms.

541B.7 Rules and forms.   1. The department shall adopt rules to implement and administer this chapter.   2. The department shall create and make available forms to be used in complying with this chapter, including but not limited to the following:   a. A form for designating an account as a first-time homebuyer savings account pursuant to section 541B.3, subsection 1, paragraph “a”.   b. A form for designating an individual as beneficiary of a first-time homebuyer savings account pursuant to section 541B.3, subsection 2, paragraph “a”.   c. A first-time homebuyer savings account annual report as required in section 541B.4, subsection 3, paragraph “a”. The report shall require, at a minimum, a list of transactions occurring on the account during the tax year, and shall identify any supporting documentation to be included with the report or maintained by the taxpayer.   d. A transaction report as required in section 541B.4, subsection 3, paragraph “c”, which report shall require, at a minimum, information regarding the eligible home costs to which any withdrawn funds were applied in connection with a qualified home purchase, and information regarding the amount of funds remaining, if any, in a first-time homebuyer savings account.  2017 Acts, ch 116, §9
IA Code § 542.1 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 542 - PUBLIC ACCOUNTANTS|Section 542.1 - Title.

542.1 Title.   This chapter shall be known and may be cited as the “Iowa Accountancy Act of 2001”.  2001 Acts, ch 55, §1, 38
IA Code § 542.2 (2021)
2021 Iowa Code|Title XIII - COMMERCE|Chapter 542 - PUBLIC ACCOUNTANTS|Section 542.2 - Legislative intent.

542.2 Legislative intent.   It is the policy of this state, and the purpose of this chapter, to promote the reliability of information that is used for guidance in financial transactions or for accounting for or assessing the financial status or performance of commercial, noncommercial, and governmental enterprises. The reliance of the public in general and of the business community in particular on sound financial reporting imposes on persons engaged in such practice certain obligations both to their clients and to the public. These obligations, which this chapter is intended to enforce, include the obligation to maintain independence in thought and action, to strive continuously to improve one’s professional skills, to observe where applicable generally accepted accounting principles and generally accepted auditing standards, to promote sound and informative financial reporting, to hold the affairs of clients in confidence, and to maintain high standards of personal conduct in all matters affecting one’s fitness to practice public accountancy. The public interest requires that persons professing special competence in accountancy or offering assurance as to the reliability or fairness of presentation of such information shall have demonstrated their qualifications to do so, and that persons who have not demonstrated and maintained such qualifications not be permitted to represent themselves as having such special competence or to offer such assurance; that the conduct of persons licensed as having special competence in accountancy be regulated in all aspects of their professional work; that a public authority competent to prescribe and assess the qualifications and to regulate the conduct of licensees be established; and that the use of titles that have a capacity or tendency to deceive the public as to the status or competence of the persons using such titles be prohibited.  2001 Acts, ch 55, §2, 38