BILL SUMMARY for HB09-1257
HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR
|Votes: View--> ||Action Taken: |
|Moved to refer House Bill 09-1257 to the Committee||PASS|
09:33 AM -- House Bill 09-1257
Representative Scanlan, prime sponsor, presented House Bill 09-1257 concerning the requirement that the amount of public funds invested in any one certificate of deposit may not exceed the amount insured by the Federal Deposit Insurance Corporation (FDIC). Under current law, public funds invested in any one certificate of deposit in a bank or savings and loan association may not exceed $100,000. The bill amends the cap, stating that the amount of public funds invested in any one certificate of deposit may not exceed the amount insured by the FDIC.
09:34 AM -- Barbara Walker, representing the Independent Bankers of Colorado, testified in support of the bill and responded to a question from Representative Balmer.
|TIME: || 09:35:28 AM|
|MOTION:||Moved to refer House Bill 09-1257 to the Committee of the Whole. The motion passed 9-0.|
Final YES: 9 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS