Security for Public Deposits Act; makes several amendments to Act, administered by Treasury Board. (SB456)
Introduced By
Sen. Don McEachin (D-Richmond)
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 | Prefiled and ordered printed; offered 01/13/10 10103653D |
01/13/2010 | Referred to Committee on General Laws and Technology |
01/20/2010 | Reported from General Laws and Technology (15-Y 0-N) (see vote tally) |
01/22/2010 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
01/25/2010 | Read second time and engrossed |
01/26/2010 | Passed by for the day |
01/27/2010 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
02/03/2010 | Impact statement from DPB (SB456) |
02/08/2010 | Placed on Calendar |
02/08/2010 | Read first time |
02/08/2010 | Referred to Committee on Commerce and Labor |
02/23/2010 | Reported from Commerce and Labor (22-Y 0-N) (see vote tally) |
02/25/2010 | Read second time |
02/26/2010 | Read third time |
02/26/2010 | Passed House BLOCK VOTE (96-Y 0-N) |
02/26/2010 | VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally) |
03/05/2010 | Enrolled |
03/05/2010 | Bill text as passed Senate and House (SB456ER) |
03/05/2010 | Signed by Speaker |
03/08/2010 | Signed by President |
03/30/2010 | Impact statement from DPB (SB456ER) |
04/12/2010 | G Approved by Governor-Chapter 674 (effective 7/1/10) |
04/12/2010 | G Acts of Assembly Chapter text (CHAP0674) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 25 seconds.