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CS/HB 677 — Public Records/Office of Financial Regulation
by Government Operations Subcommittee and Rep. Pilon (CS/SB 1328 by Committee on Criminal Justice and Senator Hays)
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Banking and Insurance Committee (BI)
This bill makes information received from another state or federal regulatory, administrative, or criminal justice agency that is otherwise confidential or exempt pursuant to the laws of that state or pursuant to federal law and information that is received or developed by the Office of Financial Regulation (OFR) as part of a joint or multiagency investigation or examination confidential and exempt from s. 119.07(1), F.S., and s. 24(1), Art. I of the State Constitution.
The bill authorizes OFR to obtain and use information in accordance with the requirements imposed as a condition of participating in a joint or multiagency examination or investigation of financial institutions. The bill provides for retroactive application of the exemption.
In accordance with the Open Government Sunset Review Act, the exemption will be repealed on October 2, 2016, unless reviewed and saved from repeal by the Legislature, and a statement of public necessity, as required by the State Constitution, is provided.
These provisions become law on July 1, 2011.
Vote: Senate 39-0; House 118-0