Security for Public Deposits Act; makes several amendments to Act, administered by Treasury Board. (HB1036)
Introduced By
Del. Kathy Byron (R-Lynchburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Security for Public Deposits Act. Makes several amendments to the Virginia Security for Public Deposits Act, which is administered by the Treasury Board. The bill changes the definition of public funds to public deposits and expands the definition to include the various funds that are held by public entities, and requires all of those funds to be collateralized. In addition, the bill allows thrift institutions, including savings banks and savings and loan associations, to participate in the collateral pool, which was previously only available to banks. The bill also (i) clarifies the procedure for payment of losses in the event of a default, (ii) adds definitions for qualified escrow agent, public depositor, pooled method, and dedicated method, and (iii) makes several technical amendments. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/13/2010 | Committee |
01/13/2010 | Prefiled and ordered printed; offered 01/13/10 10103657D |
01/13/2010 | Referred to Committee on General Laws |
01/25/2010 | Assigned GL sub: #2 FOIA/Procurement |
02/02/2010 | Referred from General Laws |
02/02/2010 | Referred to Committee on Commerce and Labor |
02/03/2010 | Impact statement from DPB (HB1036) |
02/09/2010 | Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally) |
02/09/2010 | Committee substitute printed 10105240D-H1 |
02/11/2010 | Read first time |
02/12/2010 | Read second time |
02/12/2010 | Committee substitute agreed to 10105240D-H1 |
02/12/2010 | Engrossed by House - committee substitute HB1036H1 |
02/15/2010 | Impact statement from DPB (HB1036H1) |
02/15/2010 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
02/15/2010 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
02/16/2010 | Constitutional reading dispensed |
02/16/2010 | Referred to Committee on General Laws and Technology |
02/24/2010 | Reported from General Laws and Technology (13-Y 0-N) (see vote tally) |
02/26/2010 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
03/01/2010 | Read third time |
03/01/2010 | Passed Senate (40-Y 0-N) (see vote tally) |
03/09/2010 | Enrolled |
03/09/2010 | Bill text as passed House and Senate (HB1036ER) |
03/09/2010 | Signed by Speaker |
03/11/2010 | Signed by President |
03/30/2010 | Impact statement from DPB (HB1036ER) |
04/11/2010 | G Approved by Governor-Chapter 640 (effective 7/1/10) |
04/11/2010 | G Acts of Assembly Chapter text (CHAP0640) |