STATES
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BILL SUMMARY |
Alabama
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none |
Alaska
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none |
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H.B. 2104
Establishes the Bank of Arizona and outlines the duties of the Bank of Arizona Commission and board of directors.
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Arkansas
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none |
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A.B. 2500
This bill establishes the California Investment Trust within state government, and authorizes the trust to exercise various powers and duties relating to banking, including, among others, receiving and managing deposits from public funds, loaning money, engaging in financial transactions, and buying and selling federal funds. The bill requires all state money, as defined, to be deposited into the California Investment Trust. The bill establishes a California Investment Trust Board to be chaired by the treasurer, and establishes an advisory board for purposes of advising the board. The bill establishes the California Investment Trust Fund for deposit of all state moneys, and continuously appropriates those moneys to the board for expenditure, thereby making an appropriation of general fund moneys. The bill requires the state auditor to make specified audits of the trust, and require the state auditor, Department of Finance, and the controller to make specified reports to the Legislature with regard to the trust. The bill exempts certain documents of the trust from public disclosure.
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Colorado
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none |
Connecticut
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none |
Delaware
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none |
District of Columbia
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none |
Florida
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none |
Georgia
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none |
Guam
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not available |
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H.B. 1840
Passed House 3/6/12
Establishes a task force to review, investigate, and study the feasibility and cost of establishing a state-owned bank. Requires a report to the Legislature.
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H.B. 2103
Passed House 3/6/12
Directs the Department of Commerce and Consumer Affairs to conduct a comprehensive review of relevant state laws to develop legislation to establish the bank of the State of Hawaii. Appropriates funds to conduct the review. Directs the Hawaii housing and finance and development corporation to establish and operate an interim purchase program for distressed residential properties encumbered by problematic mortgages until the bank of the state of Hawaii is operational. Establishes minimum percentages of state funds that shall be deposited in the bank of the state of Hawaii.
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H.C.R. 30
States findings of the Legislature and creating an interim study committee to study the feasibility of the State of Idaho creating a state-owned bank.
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H.B. 2064
Creates the Community Bank of Illinois Act. Provides that the Department of Financial and Professional Regulation shall operate the Community Bank of Illinois. Specifies the authority of the advisory board of directors to the Bank. Provides that the secretary is to employ a president and employees. Contains provisions concerning the removal and discharge of appointees. Provides that state funds must be deposited in the Bank. Contains provisions concerning the nonliability of officers and sureties after deposit. Specifies the powers of the Bank. Contains provisions concerning the guaranty of deposits and the Bank's role as a clearinghouse, the authorization of loans the General Revenue Fund, bank loans to farmers, limitations on loans by the Bank, the name in which business is conducted and titles taken, civil actions, surety on appeal, audits, electronic fund transfer systems, confidentiality of bank records, the sale and leasing of acquired agricultural real estate, and the Illinois higher education savings plan. Provides that the Bank is the custodian of securities. Amends the Illinois State Auditing Act to require that the auditor general must contract with an independent certified public accounting firm for an annual audit of the Community Bank of Illinois as provided in the Community Bank of Illinois Act. Amends the Eminent Domain Act to allow the Bank to acquire property by eminent domain.
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H.B. 5010
Creates the State Bank of Illinois Act. Establishes the State Bank of Illinois and the State Bank of Illinois Board. Sets forth the membership of the state board. Provides that the state board shall appoint an advisory board of directors. Provides that the State Bank may accept deposits of private funds and public funds. Sets forth the powers of the State Bank. Provides that all deposits in the State Bank are guaranteed by the state. Provides that, whenever any public funds are deposited into the State Bank, the public official who deposited the funds is exempt from liability for loss of the funds while they are deposited in the State Bank. Amends the Freedom of Information Act to provide that certain records of the State Bank are exempt from disclosure.
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Indiana
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none |
Iowa
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none |
Kansas
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none |
Kentucky
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none |
Louisiana
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none |
Maine
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none |
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H.B. 1258
Establishes the Maryland State Bank Task Force to review and evaluate the creation of a Maryland State Bank; provides for the membership and staffing of the task force; prohibits members of the task force from receiving specified compensation, but authorizes the reimbursement of specified expenses; requires a final report by December 1, 2012; provides for the termination of the Act.
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H.B. 1192
Creates the Bank of Massachusetts.
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Michigan
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none |
Minnesota
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none |
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H.B. 996
Died in committee 3/6/12
Creates the State Bank of Mississippi for the purpose of encouraging and promoting agriculture, commerce and industry in the state; provides that the Mississippi Development Authority shall operate, manage and control the state bank; provides that the business and financial transactions of the state bank may include anything that any bank or bank holding company lawfully may do; provides that the governor shall appoint an advisory board of directors to the state bank to enlist the help of private enterprise and to encourage more active use of the purposes for which the state bank was created; prescribes the powers of the advisory board of directors; provides that the Mississippi Development Authority shall appoint a president of the state bank and may appoint and employ any subordinate officers, employees, and agents and fix the compensation of those persons; provides that all state funds and funds of all educational institutions must be deposited in the state bank; provides that all deposits in the state bank are guaranteed by the state; provides that those deposits are exempt from all state, county and municipal taxes; provides that the state bank may perform the functions and render the services of a clearinghouse for banks that make the state bank a reserve depositary; prescribes the powers of the state bank; authorizes the state treasurer and the state fiscal officer to issue on behalf of the state evidences of indebtedness on the state general fund when the balance in the state general fund is insufficient to meet legislative appropriations; authorizes the Mississippi Development Authority to direct the state bank to make loans to the state general fund by the purchase of the evidences of indebtedness; provides that the state bank shall maintain a revolving loan fund for the purpose of making or participating in loans to Mississippi beginning farmers for the purchase of agricultural real estate, equipment and livestock; provides that the state auditor shall contract with an independent certified public accounting firm for an annual audit of the state bank, and the state auditor shall audit annually or contract for an annual audit of the separate programs and funds administered by the state bank; authorizes the state bank to establish a system to provide fund transfer services to its customers and to the customers of state-chartered and federally chartered banks located within the state of Mississippi and to other financial institutions otherwise authorized to use the services of electronic fund transfer systems; provides that certain records of the state bank are confidential; provides that the state bank shall replace the state treasurer as the custodian of all securities that are required to be deposited with the state other than securities resulting from the investment of funds by the state treasurer; establishes the health information technology loan fund as a revolving loan fund in the state bank for the purpose of providing loans to health care providers to purchase and upgrade electronic health record technology, train personnel in its use, and improve security of information exchange; establishes the health information technology planning loan fund as a revolving loan fund in the state bank for the purpose of providing low-interest loans to health care entities to assist those entities in improving health information technology infrastructure; authorizes the state bank to establish a residential mortgage loan program under which the bank may originate residential mortgages if private sector mortgage loan services are not reasonably available.
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Missouri
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none |
Montana
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No Regular 2012 Session |
Nebraska
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none |
Nevada
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No Regular 2012 Session |
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H.B. 430
Failed to pass House 1/4/12
This bill establishes a committee to study the feasibility of establishing a state development bank in New Hampshire.
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H.B. 1691
Failed to pass House 3/8/12
This bill establishes a state bank.
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New Jersey
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none |
New Mexico
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none |
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A.B. 6737
Establishes a commission to study the feasibility of establishing a bank owned by the state of New York or an authority constituted by the state of New York and report within two years.
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S.B. 936
Establishes a joint legislative study commission to study the feasibility of establishing the "North Carolina Investment Trust," which would be a state-owned bank receiving deposits of state funds.
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North Dakota
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No Regular 2012 Session |
Ohio
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none |
Oklahoma
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none |
Oregon
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none |
Pennsylvania
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none |
Puerto Rico
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none |
Rhode Island
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none |
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H.B. 4822
Adds Chapter 2 to Title 34 so as to establish the Bank of South Carolina, among other things, to provide for the governance of the bank, the purposes of the bank, and the authority of the bank.
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South Dakota
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none |
Tennessee
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none |
Texas
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No Regular 2012 Session |
Utah
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none |
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H.B. 542
Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank.
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S.B. 204
Creates an expert panel on banking to recommend one or more proposals for the creation of a state bank.
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H.J.R. 12
Establishes a joint subcommittee to study whether to establish a bank operated by the Commonwealth. The study shall consider recommendations for legislation to establish a public bank that is owned, controlled, and operated by the state.
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H.B. 2434
Creates the Washington Investment Trust to: serve as a depository for state moneys, invest state moneys, facilitate investment in infrastructure, administer student loans, and provide banking services.
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S.B. 6310
Establishes the Washington Investment Trust.
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West Virginia
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none |
Wisconsin
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none |
Wyoming
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none |