This bill proposes the creation of a specialty business court in Iowa, which will have jurisdiction over civil actions related to business matters across all counties. The court will handle cases involving qualified transactions exceeding ten million dollars, governance disputes, and claims against organizations or their governing persons. It will possess the same powers as a district court, including the ability to issue legal writs and grant relief. The bill outlines the qualifications for judges, including age, residency, citizenship, and legal experience, and establishes a process for their appointment by the governor, subject to Senate confirmation.

The business court is set to begin operations on January 1, 2027, contingent upon a specific appropriation by the General Assembly, with an effective date for the bill of September 1, 2025. The legislation also includes provisions for the appointment, removal, and recusal of judges, prohibits them from engaging in private legal practice, and mandates the use of advanced technology for court operations. Additionally, it directs the Iowa Supreme Court to establish operational rules for the business court and outlines fee structures for court filings, ensuring that the court operates efficiently within the state's legal framework.