summary
Introduced
01/23/2017
01/23/2017
In Committee
02/05/2018
02/05/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to authorize municipalities to invest in credit unions. Municipalities and Regional Government.
AI Summary
This bill authorizes municipalities to invest in credit unions, including federal credit unions doing business in the Commonwealth. The bill amends existing laws to allow municipalities and regional governments to deposit public funds in credit unions, up to 25% of the credit union's total assets. This change expands the investment options available to local governments beyond just banks and cooperative banks.
Committee Categories
Business and Industry, Government Affairs
Sponsors (15)
Thomas Calter (D),
David DeCoste (R),
Kim Ferguson (R),
Carole Fiola (D),
Jennifer Flanagan (D),
Anne Gobi (D),
Carlos González (D),
Stephen Hay (D),
Natalie Higgins (D),
Steven Howitt (R),
Hannah Kane (R),
Jay Livingstone (D),
Paul Schmid (D),
Alan Silvia (D),
Jon Zlotnik (D),
Last Action
No further action taken (on 01/01/2019)
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/190/H1123 |
| Bill | https://malegislature.gov/Bills/190/H1123.pdf |
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