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Bill > SF2296
IA SF2296
IA SF2296A bill for an act relating to digital financial kiosks, modifying civil penalties, and including effective date and applicability provisions.(Formerly SSB 3086.)
summary
Introduced
02/12/2026
02/12/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill relates to digital financial asset transaction kiosks. The bill strikes existing enforcement and civil penalty provisions that authorize the attorney general to bring civil actions, seek injunctions and civil penalties, and enforce compliance for violations of Code section 533C.1004 (digital financial asset transaction kiosks). Instead, the bill provides that a violation of Code section 533C.1004 constitutes an unlawful practice under Code section 714.16 (consumer frauds), and subjects such violations to the remedies and enforcement provisions available under that section. Under current law, the attorney general may request and a court may impose a civil penalty not to exceed $40,000 per violation for unlawful methods, acts, or practices under Code section 714.16. The bill provides that notwithstanding this civil penalty limit, if the attorney general has reasonable belief that a person is in violation of an injunction issued to enforce Code section 533C.1004, the attorney general may bring a civil action to seek a civil penalty of up to $100,000 for a violation of the injunction.
AI Summary
This bill modifies how violations related to digital financial asset transaction kiosks are handled by shifting enforcement from specific provisions to the state's general consumer fraud law. Previously, the Attorney General had direct authority to bring civil actions, seek injunctions, and impose civil penalties for violations of a specific section (533C.1004) concerning these kiosks, with penalties up to $10,000 per violation. Now, any violation of that section is considered an "unlawful practice" under the broader consumer fraud statute (714.16), which allows for remedies and enforcement under that law, including civil penalties of up to $40,000 per violation. However, the bill introduces a higher penalty of up to $100,000 for violating an injunction previously issued to enforce the kiosk regulations, providing the Attorney General with a stronger tool to ensure compliance with court orders. The bill also clarifies that these changes apply to civil actions filed on or after its enactment date.
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Technology (Senate)
Last Action
Committee report, approving bill. S.J. 285. (on 02/12/2026)
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=SF2296 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF2296.html |
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