CS/HB 925: Benchmark Replacements for London Interbank Offered Rate
GENERAL BILL by Insurance and Banking Subcommittee ; Stevenson ; (CO-INTRODUCERS) Smith, D.
Benchmark Replacements for London Interbank Offered Rate; Requires recommended benchmark replacements selected or recommended by specified persons be benchmark replacements on United States dollar London Interbank Offered Rate (LIBOR) replacement date for contracts, securities, & instruments; requires fallback provisions in contracts, securities, & instruments providing specified benchmark replacements be disregarded & void; authorizes specified persons to select benchmark replacements; requires benchmark replacement conforming changes to become integral part of contracts, securities, & instruments; provides person is not liable for damages & is not subject to claims & requests for equitable relief under certain circumstances.
-
Bill History
Date Chamber Action 12/15/2021 House • Filed
1/3/2022 House • Referred to Insurance & Banking Subcommittee
• Referred to Civil Justice & Property Rights Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
1/11/2022 House • Added to Insurance & Banking Subcommittee agenda
• 1st Reading (Original Filed Version)
1/13/2022 House • Favorable with CS by Insurance & Banking Subcommittee
1/14/2022 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
1/18/2022 House • 1st Reading (Committee Substitute 1)
• Referred to Civil Justice & Property Rights Subcommittee
• Referred to Commerce Committee
• Now in Civil Justice & Property Rights Subcommittee
1/25/2022 House • Added to Civil Justice & Property Rights Subcommittee agenda
1/27/2022 House • Favorable by Civil Justice & Property Rights Subcommittee
• Reported out of Civil Justice & Property Rights Subcommittee
• Now in Commerce Committee
1/28/2022 House • Added to Commerce Committee agenda
2/1/2022 House • Favorable by Commerce Committee
• Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
2/17/2022 House • Bill added to Special Order Calendar (2/22/2022)
2/22/2022 House • Read 2nd time
• Placed on 3rd reading
• Added to Third Reading Calendar
2/24/2022 House • Read 3rd time
• CS passed; YEAS 114, NAYS 0
• Immediately certified
2/24/2022 Senate • In Messages
• Referred to Rules -SJ 463
2/28/2022 Senate • Received -SJ 463
3/2/2022 Senate • Withdrawn from Rules -SJ 506
• Placed on Calendar, on 2nd reading
• Substituted for CS/SB 1246 -SJ 506
• Read 2nd time -SJ 506
• Read 3rd time -SJ 506
• CS passed; YEAS 38 NAYS 0 -SJ 506
3/2/2022 House • In Messages
• Ordered enrolled
3/28/2022 • Signed by Officers and presented to Governor
4/6/2022 • Approved by Governor
4/8/2022 • Chapter No. 2022-57
-
CS/HB 925, Enrolled (Current Bill Version) Posted 3/2/2022 at 1:27 PM
Bill Text: PDF Analyses: None Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1246 (c1) Benchmark Replacements for the London Interbank Offered Rate Gruters Identical Last Action: 3/2/2022 S Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506 
H 639 Benchmark Replacements for London Interbank Offered Rate Stevenson Compare Last Action: 12/15/2021 H Withdrawn prior to introduction; companion bill(s) passed, see CS/HB 925 (Ch. 2022-57)
Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 687.15 Page 2 (pdf) -
CS/HB 925, Committee Substitute 1 Posted 1/14/2022 at 5:02 PM
Bill Text: PDF Analyses: Civil Justice and Property Rights Subcommittee (Post-Meeting) 1/27/2022 (pdf)
Commerce Committee (Post-Meeting) 2/1/2022 (pdf)
Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1246 (c1) Benchmark Replacements for the London Interbank Offered Rate Gruters Identical Last Action: 3/2/2022 S Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506
H 639 Benchmark Replacements for London Interbank Offered Rate Stevenson Compare Last Action: 12/15/2021 H Withdrawn prior to introduction; companion bill(s) passed, see CS/HB 925 (Ch. 2022-57)
Floor Votes (2)
Date Chamber Result 2/24/2022 4:02 PM House 114 Yeas - 0 Nays 3/2/2022 1:03 PM Senate 38 Yeas - 0 Nays Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 687.15 Page 2 (pdf) -
HB 925, Original Filed Version Posted 12/15/2021 at 9:56 AM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 4/12/2022 (pdf)
Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1246 Benchmark Replacements for London Interbank Offered Rate Gruters Identical Last Action: 3/2/2022 S Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506
H 639 Benchmark Replacements for London Interbank Offered Rate Stevenson Compare Last Action: 12/15/2021 H Withdrawn prior to introduction; companion bill(s) passed, see CS/HB 925 (Ch. 2022-57)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 583907 - Amendment
Remove lines 73-307 and insert:Stevenson 1/12/2022
6:36 PMAdopted without Objection
1/13/2022PDF Citations - Statutes (1)
Citation Catchline Location in Bill Location In Bill Help 687.15 Page 2 (pdf)