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Bill > SF578
IA SF578
A bill for an act relating to record access by members of certain special districts and associations providing utility service.(Formerly SF 169.)
summary
Introduced
03/10/2025
03/10/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill provides that if a rural water district, rural water association, nonprofit cooperative association, or cooperative association provides utility service to members, the most recent biennial report and financial information, including the budget and balance sheet, for the rural water district, rural water association, nonprofit cooperative association, or cooperative association must be made available to a member within 30 days of a reasonable request by the member. A rural water district means a rural water district incorporated and organized pursuant to the provisions of Code chapter 357A. A rural water association means a rural water association organized and incorporated as a cooperative association under Code chapter 499 or as a nonprofit corporation under Code chapter 504. A nonprofit cooperative association means a corporate body composed of actual producers or consumers of the given commodity handled by the association, whose business is conducted for the mutual benefit of its members and not for the profit of stockholders, and for which control is vested in its members upon the basis of one vote to each member. A cooperative association is one that deals with or functions for its member and that distributes its net earnings among its members in proportion to their dealings with it, except for limited dividends or other items permitted in Code chapter 499, and in which each voting member has one vote and no more.
AI Summary
This bill establishes a new requirement for rural water districts, rural water associations, and cooperative associations that provide utility services, mandating that they must provide members with their most recent biennial report and financial information (including budget and balance sheet) within 30 days of a reasonable member request. The bill creates identical provisions for three different types of organizations: rural water districts organized under Chapter 357A, nonprofit cooperative associations, and cooperative associations organized under Chapters 498 and 499. By adding these new sections to the respective chapters of Iowa law, the bill ensures that members of these utility-serving organizations have a clear, legal right to access key financial documents, promoting transparency and enabling members to better understand the financial operations of the associations they belong to. This increases accountability and provides members with important information about the organizations that serve their utility needs.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Commerce (S)
Last Action
Amendment S-3051 filed. S.J. 642. (on 03/25/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF578 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF578.html |
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