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The Florida Senate

SB 1318: Public Deposits


Public Deposits; Providing requirements for credit unions that are qualified public depositories; providing that public deposits in credit unions by specified trust departments or trust companies are exempt from certain requirements and protection; prohibiting the Chief Financial Officer from designating credit unions as qualified public depositories unless certain requirements are met; revising the losses for which the Chief Financial Officer may sell securities to protect the integrity of the public deposits program; authorizing credit unions to be reinstated, or to reapply for qualification, as qualified public depositories under specified circumstances; authorizing the Chief Financial Officer to issue a cease and desist order and a corrective order to credit unions upon certain determinations, etc.

Effective Date: 7/1/2022
Last Action: 3/14/2022 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Appropriations Subcommittee on Agriculture, Environment, and General Government (AEG)
  3. Appropriations (AP)

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  • Bill History

    Date Chamber Action
    12/20/2021 Senate • Filed
    1/12/2022 Senate • Referred to Banking and Insurance; Appropriations Subcommittee on Agriculture, Environment, and General Government; Appropriations -SJ 119
    1/18/2022 Senate • Introduced -SJ 119
    3/12/2022 Senate • Indefinitely postponed and withdrawn from consideration
    3/14/2022 Senate • Died in Banking and Insurance

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  • SB 1318, Original Filed Version (Current Bill Version) Posted 12/20/2021 at 1:47 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1559 Public Deposits Harding, Rizo Similar Last Action: 3/14/2022 H Died in State Administration & Technology Appropriations Subcommittee

    Citations - Statutes (33)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 18 (pdf)
    17.68 Financial Literacy Program for Individuals with Developmental Disabilities. Page 4 (pdf)
    24.114 Bank deposits and control of lottery transactions. Page 18 (pdf)
    125.901 Children’s services; independent special district; council; powers, duties, and functions; public records exemption. Page 19 (pdf)
    136.01 County depositories. Page 20 (pdf)
    159.608 Powers of housing finance authorities. Page 21 (pdf)
    175.301 Depository for pension funds. Page 22 (pdf)
    175.401 Retiree health insurance subsidy. Page 22 (pdf)
    185.30 Depository for retirement fund. Page 23 (pdf)
    185.50 Retiree health insurance subsidy. Page 24 (pdf)
    190.007 Board of supervisors; general duties. Page 25 (pdf)
    191.006 General powers. Page 26 (pdf)
    215.34 State funds; noncollectible items; procedure. Page 26 (pdf)
    218.415 Local government investment policies. Page 27 (pdf)
    255.502 Definitions; ss. 255.501-255.525. Page 29 (pdf)
    280.02 Definitions. Page 4 (pdf)
    280.03 Public deposits to be secured; prohibitions; exemptions. Page 6 (pdf)
    280.042 Page 7 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 8 (pdf)
    280.052 Order of suspension or disqualification; procedure. Page 9 (pdf)
    280.053 Period of suspension or disqualification; obligations during period; reinstatement. Page 9 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 10 (pdf)
    280.07 Mutual responsibility and contingent liability. Page 11 (pdf)
    280.08 Procedure for payment of losses. Page 12 (pdf)
    280.085 Notice to claimants. Page 13 (pdf)
    280.09 Public Deposits Trust Fund. Page 13 (pdf)
    280.10 Effect of merger, acquisition, or consolidation; change of name or address. Page 15 (pdf)
    280.13 Eligible collateral. Page 16 (pdf)
    280.17 Requirements for public depositors; notice to public depositors and governmental units; loss of protection. Page 17 (pdf), Page 29 (pdf)
    331.309 Treasurer; depositories; fiscal agent. Page 30 (pdf)
    373.553 Treasurer of the board; payment of funds; depositories. Page 31 (pdf)
    631.221 Deposit of moneys collected. Page 31 (pdf)
    723.06115 Florida Mobile Home Relocation Trust Fund. Page 32 (pdf)

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