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Bill > SB2030
OK SB2030
OK SB2030State Treasurer; requiring Treasurer to submit proposal for use of Texas Bullion Depository; requiring legislative approval of agreement. Effective date.
summary
Introduced
02/05/2024
02/05/2024
In Committee
02/06/2024
02/06/2024
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2024 Regular Session
Bill Summary
An Act relating to the State Treasurer; requiring the Treasurer to develop a proposal for the implementation of certain debit card service based upon deposits within the Texas Bullion Depository; providing deadline for developed proposal; stipulating elements of proposal; authorizing Treasurer to negotiate certain agreement with the State of Texas; authorizing the Treasurer to issue certain debit cards under certain circumstance; stipulating certain deposits and transactions be considered the exchange of legal tender; authorizing the promulgation of rules; authorizing the Treasurer to create bullion depository; authorizing the issuance of debit cards; providing for noncodification; providing for codification; and providing an effective date.
AI Summary
This bill requires the Oklahoma State Treasurer to develop a proposal for implementing a debit card service based on deposits within the Texas Bullion Depository. The proposal must include procedures for sharing account information, a fee structure, and timelines for development and availability of the service. The Treasurer is authorized to negotiate an agreement with Texas or the Depository to provide this service. If an agreement is reached, the Treasurer can issue debit cards to Oklahomans with Depository accounts, and deposits and transactions using these cards will be considered legal tender. The Treasurer is also authorized to create a bullion depository in Oklahoma and issue debit cards for it, with deposits and transactions considered legal tender. The bill takes effect on November 1, 2024.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Coauthored by Senator Hamilton (on 02/08/2024)
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 | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2030&Session=2400 |
| Fiscal Note/Analysis - Senate: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB2030%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/SB/SB2030%20INT.PDF |
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