summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation to authorize municipalities to invest in credit unions. Financial Services.
AI Summary
This bill allows municipalities to invest in credit unions, in addition to the other financial institutions currently authorized. Specifically, it amends existing laws to permit municipalities to invest in federal credit unions and credit unions doing business in the Commonwealth, and it allows credit unions and federal credit unions to accept public funds, subject to certain limits. This provides municipalities with more investment options and gives credit unions the ability to receive public funds, expanding their role in the financial system.
Committee Categories
Business and Industry
Sponsors (10)
Jon Zlotnik (D)*,
Kim Ferguson (R),
Anne Gobi (D),
Thomas Golden (D),
Tami Gouveia (D),
Natalie Higgins (D),
Hannah Kane (R),
Dave Muradian (R),
Lindsay Sabadosa (D),
Susannah Whipps (I),
Last Action
Accompanied a study order, see H4976 (on 09/01/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H1213 |
| Bill | https://malegislature.gov/Bills/192/H1213.pdf |
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