Iowa 2025-2026 Regular Session

Iowa House Bill HSB59

Introduced
1/22/25  

Caption

A bill for an act providing for public availability of certain financial information of regents institutions and including effective date provisions.(See HF 296.)

Impact

If enacted, HSB59 could transform the way financial information is reported at state-regulated institutions. The requirement for institutions to make various financial details available will impact state transparency laws, specifically regarding higher education funding and expenditures. Enhanced accessibility to detailed financial data can empower the public and facilitate scrutiny of these institutions' financial practices, leading to potential policy reform or adjustments in budgeting priorities as stakeholders engage with the data.

Summary

House Study Bill 59, known as the College Finance Transparency Act, mandates that institutions under the control of the state board of regents in Iowa must publicly disclose detailed financial information on their websites. This includes budgets, expenditures of $1,000 or more, vendor information, and written contracts. The bill aims to improve transparency regarding the financial operations of public higher education institutions, thereby increasing accountability to taxpayers and stakeholders. Institutions are required to provide this information in a format that is easily accessible and searchable, enhancing public engagement and oversight.

Contention

Despite the focus on transparency, there may be concerns from the institutions regarding the administrative burden of complying with the act's requirements. Critics may argue that the costs associated with implementing the necessary technological infrastructure and reporting processes could divert resources from educational priorities. Additionally, there might be apprehensions related to privacy, particularly regarding how detailed expenditure data may be utilized by external observers or entities, potentially impacting institutional operations and decision-making.

Companion Bills

IA HF296

Replaced by A bill for an act providing for public availability of certain financial information of regents institutions and including effective date provisions.(Formerly HSB 59.)

Previously Filed As

IA HSB126

A bill for an act relating to the organization, structure, and functions of state government, providing for salaries of appointed state officers, providing for penalties, making appropriations, providing Code editor directives and transition provisions, and including applicability and effective date provisions.(See HF 662.)

IA HSB12

A bill for an act relating to consumer data protection, providing civil penalties, and including effective date provisions.(See HF 346.)

IA HSB207

A bill for an act providing for business organizations, including limited liability companies, providing penalties, and including effective date provisions.(See HF 655.)

IA HF2704

A bill for an act relating to and making appropriations to the education system, including the funding and operation of the department for the blind, department of education, and state board of regents; modifying provisions related to compulsory education, open enrollment, the state board of regents presidential search committee, the Iowa tuition grants program, and the Iowa dyslexia board; establishing restrictions related to diversity, equity, and inclusion efforts of institutions of higher education governed by the state board of regents; providing penalties; and including effective date and applicability provisions.

IA HF662

A bill for an act relating to the organization, structure, and functions of state government, providing for salaries of appointed state officers, providing for penalties, making appropriations, providing Code editor directives and transition provisions, and including applicability and effective date provisions.(Formerly HSB 126.)

IA HSB659

A bill for an act providing for limited liability companies, providing for fees, and including effective date provisions.(See HF 2582, HF 2647.)

IA HF2558

A bill for an act relating to higher education, including by modifying the responsibilities of private institutions of higher education, community colleges, the state board of regents, and institutions of higher education governed by the state board of regents, modifying provisions related to diversity, equity, and inclusion policies, tuition, and administrator hiring at state universities, membership of the state board of regents, and student-employer work and tuition programs at state universities and community colleges, and including applicability provisions. (Formerly HF 2327.)

IA HSB664

A bill for an act relating to the organization, structure, and functions of state and local governments, providing for salaries of certain state officers, making statutory corrections, resolving inconsistencies, removing ambiguities, and including effective date provisions.(See HF 2550, HF 2686.)

IA HSB672

A bill for an act relating to education, including modifying provisions related to education data collection and the determination of enrollment, and including effective date and applicability provisions.(See HF 2542.)

IA HF655

A bill for an act providing for business organizations, including limited liability companies, providing penalties, and including effective date provisions. (Formerly HSB 207.) Effective date: 01/01/2024.

Similar Bills

OR SB761

Relating to higher education.

IA HF296

A bill for an act providing for public availability of certain financial information of regents institutions and including effective date provisions.(Formerly HSB 59.)

NJ S3820

Requires certain institutions of higher education and degree-granting proprietary institutions to submit certain documentation on online program managers to Secretary of Higher Education.

NJ S1112

Requires certain institutions of higher education and degree-granting proprietary institutions to submit certain documentation on online program managers to Secretary of Higher Education.

IL HB2326

PROC CD-ST UNI RES-OUTSIDE DON

LA SB79

Provides with respect to the prudent management of institutional funds. (1/1/2011)

WY HB0031

Wyoming's tomorrow scholarship program.

NV AB346

Revises the State Budget Act. (BDR 31-928)