Adoption of this amendment will ADD a 2/3s majority vote requirement for final passage of SB447 (§§ 10, 11, 12).
ASSEMBLY ACTION Initial and Date |SENATE ACTION Initial and Date
Adopted Lost | Adopted Lost
Concurred In Not |Concurred In Not
Receded Not | Receded Not
Amend sec. 8, page 7, line 6, by deleting:
“state or national bank located in this state” and inserting:
“state, national or federal reserve district bank”.
Amend sec. 10, page 7, line 15, by deleting “total of” and inserting:
“uninsured balances of the”.
Amend sec. 10, page 7, by deleting lines 27 through 34 and inserting:
“(1) A daily report of the total amount of public money held by the depository;
(2) A weekly summary report of the total fair market value of securities held by a third-party depository on behalf of the depository;
(3) A monthly report setting forth a list of acceptable securities, including, without limitation, the fair market value of those securities, held by the depository or held by any third-party depository on behalf of the depository; and
(4) A current annual report containing the financial statement of the depository; and”.
Amend sec. 12, page 8, line 12, by deleting “20” and inserting “45”.
Amend sec. 15, page 10, by deleting lines 20 through 27 and inserting:
“4. All securities to be used as such collateral are subject to review by the county treasurer and the board of county commissioners. The depository bank, credit union or savings and loan association shall submit [monthly]reports to the [county treasurer showing the securities which constitute the collateral and their fair market value.]State Treasurer as required pursuant to sections 4 to 13, inclusive, of this act. The State Treasurer will provide periodic reports to the county treasurer showing the securities which constitute the collateral and their fair market value.”.