House File 2200 amends various sections of the Iowa Code related to the regulation of alcoholic beverages by the Department of Revenue. A new definition for "authorized noninstitutional investor" is introduced, allowing individuals with a maximum ownership interest of five percent in businesses involved in the alcoholic beverage industry, provided they do not hold any operational roles within those businesses. Additionally, the bill revises the criteria for selecting members of the commission overseeing beverage control, ensuring that no more than two members can have direct or indirect interests in businesses that manufacture or sell alcoholic beverages.

The bill also establishes new prohibitions for the director of revenue and department employees regarding their involvement with alcoholic beverage businesses, including restrictions on holding interests or receiving profits from such enterprises. Furthermore, it introduces a provision allowing authorized noninstitutional investors to have ownership interests in multiple businesses, provided they disclose these interests annually to the department, which will keep this information confidential. The act is deemed of immediate importance and takes effect upon enactment.

Statutes affected:
Introduced: 123.5, 123.13
Enrolled: 123.3, 123.5, 123.13