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SB 64 FEDERALLY INSURED OBLIGATIONS

Current Location: PCH
Referrals: SHPAC/STBTC/HLLC/HCEDC

[1] SHPAC/STBT-SHPAC [3] DP-STBTC [5] DP [9] PASSED/S (41-0) [7] HLLC/HCEDC-HLLC [9] DP-HCEDC [11] DP [13] PASSED/H (64-0) SGND BY GOV (Apr. 5) Ch. 29.

SB 64 PDF  |  SB 64 FIR


Scheduled on - Date:  Time:   Location:

3/08/2021 [11]HCEDC - Do Pass - Temporary Calendar House Temporary Calendar (HCAT)
2/24/2021 [9]SCal - Passed the Senate House Introduction (HINT)
2/17/2021 [5]STBTC - Do Pass Senate Calendar (SCal)
1/19/2021 [1] - Sent to location Senate Health & Public Affairs (SHPAC)
Synopsis:

 Senate Bill 64 (SB 64) clarifies types of federally insured obligations local government treasurers may invest public money. 

Analysis:

 Senate Bill 64 (SB 64) makes a technical clarification regarding the types of federally insured obligations local government treasures may invest public money. The technical change replaces certificate of deposit registry service with certificate of deposit (CD) placement services. This change authorizes local government treasurers to invest in Federal Deposit Insurance Corporation (FDIC) institutions and avoid the deposit insurance limit in one bank. 

Amendments:

Current Law: