Senate File 639 establishes a Specialty Business Court in Iowa, aimed at expediting the resolution of complex commercial and business litigation. The court will have concurrent jurisdiction with district courts over cases involving compensatory damages of $200,000 or more, as well as various claims related to technology licensing, internal business affairs, breach of contract, and business torts, among others. The bill outlines specific conditions under which the business court will operate, including the appointment of two full-time judges and the assignment of cases to facilitate settlement conferences.

Additionally, the bill mandates that the Supreme Court will create rules for the business court's operation and jurisdiction, and it requires the judicial branch to submit a performance report by January 1, 2029. This report will include metrics such as case disposition times, comparisons with district court cases, and feedback from legal counsel and litigants. The act is set to take effect on September 1, 2026, and includes provisions for the transition of pending cases to the new business court.