This bill amends various sections of the Iowa Code related to preneed sellers, sales agents, and government cemeteries. Key changes include the calculation of inflation for trust funds based on the most recently released consumer price index for all urban consumers published by the U.S. Department of Labor, rather than relying on the commissioner of insurance. The bill also eliminates the requirement for the commissioner to conduct examinations of preneed sellers every five years unless an audit is provided, allowing for more flexibility in oversight. Additionally, it establishes new requirements for sales agents, including the necessity for a preneed seller to designate an applicant for a sales license and the requirement for sales agents to pay a renewal fee.

Furthermore, the bill introduces definitions for government cemeteries and clarifies that all cemeteries will be categorized as perpetual care, nonperpetual care, or government cemeteries, with specific regulations for each category. It repeals certain sections related to sales agent reporting and neglected cemeteries, and it removes exceptions that allowed political subdivisions to avoid minimum care fund deposits and serve as trustees. Overall, the bill aims to streamline regulations and enhance the oversight of preneed sales and cemetery operations in Iowa.

Statutes affected:
Introduced: 22.7, 523A.204, 523A.201, 523A.206, 523A.502, 523A.601, 523A.602, 523A.807, 523I.102, 523I.213A, 523I.312, 523I.501, 523I.801, 523I.805, 523I.810