Bill > SSB3180

Introduced Session

This bill requires the university of Iowa, Iowa state university, and the university of northern Iowa (institutions) to ensure that no less than 1 percent of their respective total endowment assets are invested by July 1, 2027, in one or more innovation funds certified by the economic development authority under Code section 15E.52. The bill provides that each institution shall retain discretion to determine which innovation funds to invest in, when investments are made, and the structure of commitments. The bill authorizes an institution to implement investments through direct commitments, reallocation of existing assets, or rolling commitments as capital is called. Investments made pursuant to the bill shall be managed in accordance with generally accepted institutional fiduciary standards applicable to endowment funds. The bill authorizes the state board of regents (board) to grant an institution a one-year waiver from the requirements S.F. _____ of the bill if adequate innovation fund capacity is not available or market conditions would materially impair prudent investment. If an institution fails to comply with the bill without receiving a waiver, the bill authorizes the board to direct the institution to carry out corrective action within a specified time frame, after which the board may withhold up to 0.5 percent of the moneys appropriated to the institution through the board in the fiscal year until the institution becomes fully compliant. The bill requires each institution to submit an annual report to the board with specified content on investments under the bill and requires the board to submit a consolidated report to the general assembly by December 1 of each year. The bill requires innovation funds receiving investment under the bill to support the commercialization of institution technologies, spinouts, or research-derived innovations and report such efforts through existing reporting and compliance obligations. The bill requires the economic development authority to maintain a public list of all innovation funds eligible for investment by an institution and notify the board of any changes to the list. The bill includes standards for implementation and construction of the bill relating to donor intent and other matters. The bill takes effect upon enactment.

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Other Sponsors (1)

Committee report approving bill, renumbered as SF 2453. (on 02/19/2026)

Official Document