Iowa Code § 8.46
This is the official text of Iowa Code § 8.46, part of Iowa’s Code — part of the compiled statutory law of Iowa, published by the state as "Code." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Lease-purchase — reporting.
Official statutory text
(1) For the purposes of this section, unless the context otherwise requires:
(1) (a) “Installment acquisition” includes, but is not limited to, an arrangement in which title of ownership passes when the first installment payment is made.
(1) (b) “Lease-purchase arrangement” includes, but is not limited to, an arrangement in which title of ownership passes when the final installment payment is made.
(1) (c) “State agency” means any executive, judicial, or legislative department, commission, board, institution, division, bureau, office, agency, or other entity of state government.
(2) At least thirty days prior to entering into a contract involving a lease-purchase or installment acquisition arrangement in which any part or the total amount of the contract is at least fifty thousand dollars, a state agency shall notify the legislative services agency concerning the contract. The legislative services agency shall compile the notifications for submission to the legislative fiscal committee of the legislative council. The notification is required regardless of the source of payment for the lease-purchase or installment acquisition arrangement. The notification shall include all of the following information:
(2) (a) A description of the object of the lease-purchase or installment acquisition arrangement.
(2) (b) The proposed terms of the contract.
(2) (c) The cost of the contract, including principal and interest costs. If the actual cost of a contract is not known at least thirty days prior to entering into the contract, the state agency shall estimate the principal and interest costs for the contract.
(2) (d) An identification of the means and source of payment of the contract.
(2) (e) An analysis of consequences of delaying or abandoning the commencement of the contract.
(3) The legislative fiscal committee shall report to the legislative council concerning the notifications it receives pursuant to this section.
(4) A contract for construction by a private party of property to be lease-purchased by a state agency is a contract for a public improvement as defined in section 26.2 and is a lease-purchase arrangement for purposes of this section. If the estimated cost of the property to be lease-purchased that is renovated, repaired, or involves new construction exceeds the competitive bid threshold in section 26.3, the state agency shall comply with the competitive bidding requirements of section 26.3.
91 Acts, ch 268, §606; 95 Acts, ch 214, §2; 2003 Acts, ch 35, §45, 49; 2018 Acts, ch 1075, §1, 12, 13; 2018 Acts, ch 1172, §71, 72; 2019 Acts, ch 59, §5
(1) (a) “Installment acquisition” includes, but is not limited to, an arrangement in which title of ownership passes when the first installment payment is made.
(1) (b) “Lease-purchase arrangement” includes, but is not limited to, an arrangement in which title of ownership passes when the final installment payment is made.
(1) (c) “State agency” means any executive, judicial, or legislative department, commission, board, institution, division, bureau, office, agency, or other entity of state government.
(2) At least thirty days prior to entering into a contract involving a lease-purchase or installment acquisition arrangement in which any part or the total amount of the contract is at least fifty thousand dollars, a state agency shall notify the legislative services agency concerning the contract. The legislative services agency shall compile the notifications for submission to the legislative fiscal committee of the legislative council. The notification is required regardless of the source of payment for the lease-purchase or installment acquisition arrangement. The notification shall include all of the following information:
(2) (a) A description of the object of the lease-purchase or installment acquisition arrangement.
(2) (b) The proposed terms of the contract.
(2) (c) The cost of the contract, including principal and interest costs. If the actual cost of a contract is not known at least thirty days prior to entering into the contract, the state agency shall estimate the principal and interest costs for the contract.
(2) (d) An identification of the means and source of payment of the contract.
(2) (e) An analysis of consequences of delaying or abandoning the commencement of the contract.
(3) The legislative fiscal committee shall report to the legislative council concerning the notifications it receives pursuant to this section.
(4) A contract for construction by a private party of property to be lease-purchased by a state agency is a contract for a public improvement as defined in section 26.2 and is a lease-purchase arrangement for purposes of this section. If the estimated cost of the property to be lease-purchased that is renovated, repaired, or involves new construction exceeds the competitive bid threshold in section 26.3, the state agency shall comply with the competitive bidding requirements of section 26.3.
91 Acts, ch 268, §606; 95 Acts, ch 214, §2; 2003 Acts, ch 35, §45, 49; 2018 Acts, ch 1075, §1, 12, 13; 2018 Acts, ch 1172, §71, 72; 2019 Acts, ch 59, §5
Status: in_force · Read it on the official government site
Need a lawyer in Iowa?
Find a Iowa lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.