HB 1559: Public Deposits
GENERAL BILL by Harding ; Rizo
Public Deposits; Prohibits CFO from designating credit unions as qualified public depositories unless certain requirements are met; prohibits credit unions from being designated as qualified public depositories if CFO withdraws from collateral agreements; requires return of all public deposits in credit union within specified timeframe under certain circumstances; authorizes CFO to limit amount of public deposits in credit unions; revises losses for which CFO may sell securities to protect public deposits; authorizes CFO to issue cease & desist order & corrective order to credit unions upon certain determination; specifies losses against which certain solvent banks, savings banks, savings associations, & credit unions must guarantee public depositors; revises duties & responsibilities of qualified public depositories as result of specified mergers, acquisitions, or consolidations.
Last Action: 3/14/2022 House - Died in State Administration & Technology Appropriations Subcommittee
Bill Text: PDF
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Bill History
Date Chamber Action 1/11/2022 House • Filed
• 1st Reading (Original Filed Version)
1/16/2022 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
2/14/2022 House • Added to Insurance & Banking Subcommittee agenda
2/16/2022 House • Favorable by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
3/12/2022 House • Indefinitely postponed and withdrawn from consideration
3/14/2022 House • Died in State Administration & Technology Appropriations Subcommittee
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HB 1559, Original Filed Version (Current Bill Version) Posted 1/11/2022 at 9:31 AM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 2/16/2022 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1318 Public Deposits Hutson Similar Last Action: 3/14/2022 S Died in Banking and Insurance 
Citations - Statutes (33)
Citation Catchline Location in Bill Location In Bill Help 17.57 Deposits and investments of state money. Page 21 (pdf) 17.68 Financial Literacy Program for Individuals with Developmental Disabilities. Page 4 (pdf) 24.114 Bank deposits and control of lottery transactions. Page 21 (pdf) 125.901 Children’s services; independent special district; council; powers, duties, and functions; public records exemption. Page 22 (pdf) 136.01 County depositories. Page 23 (pdf) 159.608 Powers of housing finance authorities. Page 24 (pdf) 175.301 Depository for pension funds. Page 25 (pdf) 175.401 Retiree health insurance subsidy. Page 26 (pdf) 185.30 Depository for retirement fund. Page 27 (pdf) 185.50 Retiree health insurance subsidy. Page 28 (pdf) 190.007 Board of supervisors; general duties. Page 29 (pdf) 191.006 General powers. Page 29 (pdf) 215.34 State funds; noncollectible items; procedure. Page 30 (pdf) 218.415 Local government investment policies. Page 31 (pdf) 255.502 Definitions; ss. 255.501-255.525. Page 33 (pdf) 280.02 Definitions. Page 5 (pdf) 280.03 Public deposits to be secured; prohibitions; exemptions. Page 7 (pdf) 280.042 Page 8 (pdf) 280.05 Powers and duties of the Chief Financial Officer. Page 9 (pdf) 280.052 Order of suspension or disqualification; procedure. Page 10 (pdf) 280.053 Period of suspension or disqualification; obligations during period; reinstatement. Page 10 (pdf) 280.055 Cease and desist order; corrective order; administrative penalty. Page 11 (pdf) 280.07 Mutual responsibility and contingent liability. Page 12 (pdf) 280.08 Procedure for payment of losses. Page 13 (pdf) 280.085 Notice to claimants. Page 15 (pdf) 280.09 Public Deposits Trust Fund. Page 15 (pdf) 280.10 Effect of merger, acquisition, or consolidation; change of name or address. Page 17 (pdf) 280.13 Eligible collateral. Page 18 (pdf) 280.17 Requirements for public depositors; notice to public depositors and governmental units; loss of protection. Page 20 (pdf) 331.309 Treasurer; depositories; fiscal agent. Page 34 (pdf) 373.553 Treasurer of the board; payment of funds; depositories. Page 35 (pdf) 631.221 Deposit of moneys collected. Page 35 (pdf) 723.06115 Florida Mobile Home Relocation Trust Fund. Page 36 (pdf)