Investment of public funds; ratings agencies. (HB1587)

Introduced By

Del. Patrick Hope (D-Arlington)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Investment of public funds; ratings agencies. Allows ratings by Fitch Ratings to be used for determining whether certain investments are permissible for public funds. Under current law, only ratings by Standard & Poor's or Moody's Investors Service may be used. The bill contains technical amendments, including the removal of obsolete references to ratings by Duff & Phelps. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/14/2020Presented and ordered printed 20105250D
01/14/2020Referred to Committee on General Laws
01/22/2020Assigned GL sub: Professions/Occupations and Adminstrative Process
01/27/2020Impact statement from DPB (HB1587)
01/30/2020House subcommittee amendments and substitutes offered
01/30/2020Subcommittee recommends reporting with substitute (7-Y 0-N)
02/04/2020Committee substitute printed 20107152D-H1
02/04/2020Reported from General Laws with substitute (21-Y 0-N) (see vote tally)
02/05/2020Read first time
02/06/2020Impact statement from DPB (HB1587H1)
02/06/2020Read second time
02/06/2020Committee substitute agreed to 20107152D-H1
02/06/2020Engrossed by House - committee substitute HB1587H1
02/07/2020Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/07/2020VOTE: Block Vote Passage (100-Y 0-N) (see vote tally)
02/10/2020Constitutional reading dispensed
02/10/2020Referred to Committee on Finance and Appropriations
02/19/2020Reported from Finance and Appropriations (15-Y 1-N) (see vote tally)
02/20/2020Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/21/2020Read third time
02/21/2020Passed Senate (35-Y 0-N) (see vote tally)
02/26/2020Enrolled
02/26/2020Bill text as passed House and Senate (HB1587ER)
02/26/2020Impact statement from DPB (HB1587ER)
02/27/2020Signed by Speaker
02/27/2020Signed by President
03/05/2020G Governor's Action Deadline 11:59 p.m., April 6, 2020
03/05/2020Enrolled Bill communicated to Governor on March 5, 2020
03/05/2020G Governor's Action Deadline 11:59 p.m., March 12, 2020
03/12/2020G Approved by Governor-Chapter 333 (effective 7/1/20)
03/12/2020G Acts of Assembly Chapter text (CHAP0333)

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