MA H1838

Bill

MA H1838

To allow municipalities to invest in credit unions

Introduced
01/22/2019

In Committee
12/19/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to authorize municipalities to invest in credit unions. Municipalities and Regional Government.

AI Summary

This bill would allow municipalities in Massachusetts to invest in credit unions, including federal credit unions doing business in the state. The bill amends existing laws to explicitly permit municipalities to deposit funds in credit unions, in addition to the banks and cooperative banks that were previously allowed. The bill also sets a limit of 25% of the credit union's total assets on the amount of public funds a credit union can accept.

Committee Categories

Business and Industry, Government Affairs

Sponsors (16)

Jim Arciero (D), Donnie Berthiaume (R), Tackey Chan (D), Tricia Farley-Bouvier (D), Kim Ferguson (R), Carmine Gentile (D), Anne Gobi (D), Carlos González (D), Stephen Hay (D), Natalie Higgins (D), Hannah Kane (R), Mike Moore (D), Dave Muradian (R), Paul Schmid (D), Susannah Whipps (I), Jon Zlotnik (D),

Last Action

Discharged to the Joint Committee on Financial Services (on 12/19/2019)

Official Document

https://malegislature.gov/Bills/191/H1838

(11 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H1838
Bill	https://malegislature.gov/Bills/191/H1838.pdf

Bill	Bill Name	Last Action	Type
H1122	Relative to capital of credit unions	Accompanied a study order, see H5160	Similar To
H1804	Creating a commission to study the effects of unfunded mandates on municipalities	Accompanied a study order, see H5127	Similar To
H2535	Relative to regional transportation ballot initiatives	Accompanied H2653	Similar To
H365	Promoting capital investment in targeted employment areas	Accompanied a study order, see H5011	Similar To
S1200	To support the equitable utilization of third party consultants in land use determinations	Accompanied a study order, see S2524	Similar To
S2348	Relative to educational opportunity for students	New draft substituted, see S2350	Similar To
S2412	Relative to educational opportunity for students	Signed by the Governor, Chapter 132 of the Acts of 2019	Similar To
S308	Relative to equity in education funding	Accompanied a new draft, see S2348	Similar To
S498	To reduce solid waste, increase recycling and generate municipal cost savings	Accompanied S520	Similar To
S520	Relative to recycling	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S90	Relative to a municipality’s right of first refusal of agricultural and recreational land	Accompanied a study order, see S2533	Similar To

Bill > H1838

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (16)

Last Action

Official Document

bill text

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