Bill Text: IA SF573 | 2021-2022 | 89th General Assembly | Introduced


Bill Title: A bill for an act relating to the frequency of meetings of a committee created to establish the minimum rate to be earned on state funds placed in time deposits.(Formerly SF 405.)

Spectrum: Committee Bill

Status: (Introduced - Dead) 2022-03-24 - Referred to State Government. S.J. 621. [SF573 Detail]

Download: Iowa-2021-SF573-Introduced.html
Senate File 573 - Introduced SENATE FILE 573 BY COMMITTEE ON STATE GOVERNMENT (SUCCESSOR TO SF 405) A BILL FOR An Act relating to the frequency of meetings of a committee 1 created to establish the minimum rate to be earned on state 2 funds placed in time deposits. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2560SV (2) 89 jda/rn
S.F. 573 Section 1. Section 12C.6, subsection 2, paragraph a, Code 1 2021, is amended to read as follows: 2 a. A committee composed of the superintendent of banking, 3 the superintendent of credit unions, the auditor of state or 4 a designee, and the treasurer of state shall meet on or about 5 the first of each month or quarterly and at other times as the 6 committee may prescribe and by majority action shall establish 7 a minimum rate to be earned on state funds placed in time 8 deposits. 9 EXPLANATION 10 The inclusion of this explanation does not constitute agreement with 11 the explanation’s substance by the members of the general assembly. 12 This bill relates to the frequency of meetings of a committee 13 composed of the superintendent of banking, the superintendent 14 of credit unions, the auditor of state, and the treasurer of 15 state to establish the minimum rate to be earned on state funds 16 placed in time deposits. The bill provides that the committee 17 shall meet quarterly and at other times as the committee may 18 prescribe to establish a minimum rate to be earned on state 19 funds placed in time deposits. 20 -1- LSB 2560SV (2) 89 jda/rn 1/ 1
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