MA S577

Bill

Relative to public funds

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to public funds. Financial Services.

AI Summary

This bill amends various sections of Massachusetts state law to allow federal credit unions and credit unions to accept public funds, in addition to the previously allowed federal savings banks, cooperative banks, and savings banks. The bill sets a limit of 25% of the credit union or federal credit union's assets for the total amount of public funds that can be received. This change provides more options for municipalities and other public entities to deposit and invest their funds.

Committee Categories

Business and Industry

Sponsors (1)

Michael Rodrigues (D),

Last Action

Accompanied a study order, see S2496 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S577

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S577
Bill	https://malegislature.gov/Bills/190/S577.pdf

Bill	Bill Name	Last Action	Type
H1770	Relative to accountability of public funds used for wind turbines	Accompanied a study order, see H4651	Similar To
S2496	Order relative to authorizing the joint committee on Financial Services to make an investigation and study of certain current Senate documents relative to financial services issues	Discharged to the committee on Senate Rules	Replaced by
S541	To protect credit unions	Accompanied a study order, see S2496	Similar To
S587	Modernizing the Credit Union Laws	Accompanied a new draft, see S2556	Similar To
S656	Relative to hospital profit and fairness	Accompanied a study order, see S2535	Similar To

Bill > S577

MA S577

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

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