summary
Introduced
01/12/2026
01/12/2026
In Committee
01/22/2026
01/22/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Public depositories. Provides that if two or fewer financial institutions that have a branch or principal office in a county or in a county contiguous to the county that is located in Indiana are willing to accept public funds, the board of finance for the county may: (1) treat the financial institutions that are located within the county or a county contiguous to the county that is located in Indiana as if the financial institutions were not located within the county or a county contiguous to the county; and (2) designate certain financial institutions to receive public funds. Makes conforming changes.
AI Summary
This bill modifies Indiana law concerning the deposit of public funds by counties. Specifically, it allows a county's board of finance to designate financial institutions to receive public funds even if there are only two or fewer financial institutions with a branch or principal office within the county or a contiguous county in Indiana that are willing to accept these funds. In such situations, the board can effectively disregard the limited local options and select other financial institutions within Indiana to hold the public money, as outlined in subsection (c) of the relevant law. This change provides flexibility for counties facing limited local banking options for their public funds.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Committee report: amend do pass, adopted (on 01/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
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