CS/HB 611: Public Deposits
GENERAL BILL by State Administration & Technology Appropriations Subcommittee ; Botana ; (CO-INTRODUCERS) Redondo ; Rizo
Public Deposits; Adds credit unions to list of financial institutions eligible to be qualified public depositories; provides applicability of qualified public depository provisions to credit unions; requires CFO to withdraw from collateral agreement with credit union; specifies requirement for & restriction on credit union that is party to withdrawn collateral agreement; provides limits on public deposits held by credit unions; specifies losses against which certain solvent banks, savings banks, savings associations, & credit unions must guarantee public depositors; requires CFO to segregate & separately account for proceeds, assessments, & administrative penalties attributable to credit union from those attributable to other specified financial institutions; revises condition for payment of losses to public depositors; provides that specified limit on securities eligible to be pledged as collateral apply to qualified public depositories, rather than to banks & savings associations.
Effective Date: 7/1/2024
Current Bill Version Posted: 02/13/2024 at 05:21 PM
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Senate Committee References (1)
- Fiscal Policy (FP)
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Related Bills (2)
Bill Number Subject Filed By Last Action and Location Relationship Learn more about bill relationships S 1018 by Ingoglia
Public Deposits
Last Action: 3/8/2024 S Died in Banking and InsuranceSimilar H 989 (er) by Insurance & Banking Subcommittee
Chief Financial Officer
Last Action: 3/8/2024 H Ordered enrolledCompare -
Analyses (1)
Links in this section are PDF documents.
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Floor Votes (1)
Links in this section are PDF documents.
Date Chamber Result 2/29/2024 4:34 PM House 76 Yeas - 36 Nays -
Citations - Statutes (36)
The page numbers, when listed, for citations are constantly under review. The journals or printed bills of the respective chambers should be consulted as the official documents of the Legislature.
The links for the page numbers are formatted to open the bill text PDF directly to the page containing the citation. However, if your browser is set to open PDFs in a new window, as is often the case with 64-bit browsers, the bill text will open to the first page.Citation and Catchline Location in Bill 17.57 Deposits and investments of state money. Page 23 [pdf] 17.68 Financial Literacy Program for Individuals with Developmental Disabilities. Page 3 [pdf] 24.114 Bank deposits and control of lottery transactions. Page 24 [pdf] 125.901 Children's services; independent special district; council; powers, duties, and functions; public records exemption. Page 25 [pdf] 136.01 County depositories. Page 26 [pdf] 159.608 Powers of housing finance authorities. Page 27 [pdf] 175.301 Depository for pension funds. Page 27 [pdf] 175.401 Retiree health insurance subsidy. Page 28 [pdf] 185.30 Depository for retirement fund. Page 30 [pdf] 185.50 Retiree health insurance subsidy. Page 30 [pdf] 190.007 Board of supervisors; general duties. Page 32 [pdf] 191.006 General powers. Page 32 [pdf] 215.34 State funds; noncollectible items; procedure. Page 32 [pdf] 218.415 Local government investment policies. Page 33 [pdf] 255.502 Definitions; ss. 255.501-255.525. Page 35 [pdf] 280.02 Definitions. Page 4 [pdf] 280.025 Attestation required. Page 9 [pdf] 280.03 Public deposits to be secured; prohibitions; exemptions. Page 9 [pdf] 280.042 Page 10 [pdf] 280.05 Powers and duties of the Chief Financial Officer. Page 11 [pdf] 280.051 Grounds for suspension or disqualification of a qualified public depository. Page 36 [pdf] 280.052 Order of suspension or disqualification; procedure. Page 12 [pdf] 280.053 Period of suspension or disqualification; obligations during period; reinstatement. Page 12 [pdf] 280.055 Cease and desist order; corrective order; administrative penalty. Page 13 [pdf] 280.07 Mutual responsibility and contingent liability. Page 15 [pdf] 280.08 Procedure for payment of losses. Page 15 [pdf] 280.085 Notice to claimants. Page 17 [pdf] 280.09 Public Deposits Trust Fund. Page 17 [pdf] 280.10 Effect of merger, acquisition, or consolidation; change of name or address. Page 19 [pdf] 280.13 Eligible collateral. Page 21 [pdf] 280.17 Requirements for public depositors; notice to public depositors and governmental units; loss of protection. Page 22 [pdf] 280.18 Protection of public depositors; liability of the state. Page 37 [pdf] 331.309 Treasurer; depositories; fiscal agent. Page 37 [pdf] 373.553 Treasurer of the board; payment of funds; depositories. Page 38 [pdf] 631.221 Deposit of moneys collected. Page 39 [pdf] 723.06115 Florida Mobile Home Relocation Trust Fund. Page 39 [pdf] -
Bill History
S = Senate, H = House
Date Chamber Action 11/21/2023 H • Filed
11/30/2023 H • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/9/2024 H • Added to Insurance & Banking Subcommittee agenda
• 1st Reading (Original Filed Version)
1/11/2024 H • Favorable by Insurance & Banking Subcommittee
1/12/2024 H • Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
2/9/2024 H • Added to State Administration & Technology Appropriations Subcommittee agenda
2/13/2024 H • Favorable with CS by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
2/14/2024 H • 1st Reading (Committee Substitute 1)
• Referred to Commerce Committee
• Now in Commerce Committee
2/20/2024 H • Added to Commerce Committee agenda
2/22/2024 H • Favorable by Commerce Committee
2/23/2024 H • Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
2/26/2024 H • Bill added to Special Order Calendar (2/29/2024)
2/29/2024 H • Read 2nd time
• Added to Third Reading Calendar
• Read 3rd time
• CS passed; YEAS 76, NAYS 36
2/29/2024 S • In Messages
3/1/2024 S • Referred to Fiscal Policy
• Received
3/8/2024 S • Died in Fiscal Policy