This bill establishes specific prohibitions and requirements for contracts entered into by state agencies in Iowa. It declares certain provisions void if included in such contracts, including those that require the state to indemnify another party, impose unknown vendor terms, limit the state's right to legal representation, or mandate arbitration. Additionally, it prohibits provisions that impose confidentiality on contract terms, require payment of attorney fees, or obligate the state to accept risk of loss before receiving goods. The bill aims to protect the interests of the state and ensure transparency in state contracts.

Furthermore, the bill mandates that all state agency vendor contracts include provisions that specify the contract will be governed by Iowa law and that any litigation must occur in designated courts in Polk County or the Southern District of Iowa. This ensures consistency in legal proceedings related to state contracts and reinforces the state's jurisdiction over such agreements. The provisions of this bill apply to contracts entered into or renewed after its effective date.