Bill Title: Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2021-04-06 - signed chap.94 [A00164 Detail]

Text: Latest bill text (Amended) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Assemblymember Kenneth Zebrowski [D]	Primary	Sponsored Bills	HD-096	FollowTheMoney	Ballotpedia	VoteSmart
Assemblymember John McDonald [D]	Cosponsor	Sponsored Bills	HD-108	FollowTheMoney	Ballotpedia	VoteSmart
Assemblymember Judy Griffin [D]	Cosponsor	Sponsored Bills	HD-021	FollowTheMoney	Ballotpedia	VoteSmart
Assemblymember Jenifer Rajkumar [D]	Cosponsor	Sponsored Bills	HD-038	FollowTheMoney	Ballotpedia	VoteSmart

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