Iowans would have a new avenue to help them brace for natural disasters pummeling Iowa with growing frequency under a proposal advancing in the state House to allow people to set aside money in a catastrophic savings account.
The proposal, House Study Bill 149, would allow Iowans beginning Jan. 1, 2026, to open a tax-free account to save money for disasters.
Iowa lawmakers are taking the step as more frequent severe weather including hail, wind and thunderstorms drives up property insurance premiums throughout Iowa and other parts of the Midwest, cutting deeper into Iowans' bank accounts each year.
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