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Glossary of Legislative Terms

CS/SB 1246: Benchmark Replacements for the London Interbank Offered Rate

GENERAL BILL by Commerce and Tourism ; Gruters

Benchmark Replacements for the London Interbank Offered Rate; Requiring that recommended benchmark replacements selected or recommended by specified persons be benchmark replacements on the United States dollar London Interbank Offered Rate (LIBOR) replacement date for certain contracts, securities, and instruments; authorizing specified persons to select benchmark replacements under certain circumstances; requiring benchmark replacement conforming changes to become an integral part of contracts, securities, and instruments under certain circumstances; providing that a person is not liable for damages and is not subject to claims and requests for equitable relief under certain circumstances, etc.

Effective Date: Upon becoming a law
 Last Action: 3/2/2022 Senate - Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Commerce and Tourism (CM)
  3. Rules (RC)


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Bill History

Date Chamber Action
12/14/2021 Senate • Filed
1/5/2022 Senate • Referred to Banking and Insurance; Commerce and Tourism; Rules -SJ 83
1/11/2022 Senate • Introduced -SJ 83
1/28/2022 Senate • On Committee agenda-- Banking and Insurance, 02/02/22, 8:30 am, 412 Knott Building
2/2/2022 Senate • Favorable by Banking and Insurance; YEAS 11 NAYS 0 -SJ 242
• Now in Commerce and Tourism
• On Committee agenda-- Commerce and Tourism, 02/07/22, 2:30 pm, 110 Senate Building
2/7/2022 Senate • CS by Commerce and Tourism; YEAS 9 NAYS 0 -SJ 344
2/8/2022 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
2/9/2022 Senate • CS by Commerce and Tourism read 1st time -SJ 350
2/11/2022 Senate • Now in Rules
• On Committee agenda-- Rules, 02/15/22, 10:00 am, 412 Knott Building
2/15/2022 Senate • Favorable by- Rules; YEAS 17 NAYS 0 -SJ 370
2/16/2022 Senate • Placed on Calendar, on 2nd reading
2/17/2022 Senate • Placed on Special Order Calendar, 02/23/22 -SJ 451
2/23/2022 Senate • Retained on Calendar
2/28/2022 Senate • Placed on Special Order Calendar, 03/02/22 -SJ 521
3/2/2022 Senate • Read 2nd time -SJ 505
• Substituted CS/HB 925 -SJ 506
• Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506