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CS/CS/HB 3: Government and Corporate Activism

GENERAL BILL by State Affairs Committee ; Commerce Committee ; Rommel ; Sirois ; (CO-INTRODUCERS) Black ; Borrero ; Botana ; Buchanan ; Fabricio ; Giallombardo ; Gregory ; Holcomb ; Jacques ; Leek ; Maggard ; Massullo ; McClain ; Overdorf ; Plakon ; Roth ; Snyder

Government and Corporate Activism; Revises provisions relating to deposits & investments of state money, retirement system & trust fund assets, & public funds; defined contribution plans; bonds; government contracts; financial institutions; consumer finance; money services businesses; & unfair & deceptive trade practices.

Effective Date: 7/1/2023
 Last Action: 5/2/2023 - Chapter No. 2023-28
Bill Text: PDF
Senate Committee References:
  1. Fiscal Policy (FP)

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  • Bill History

    Date Chamber Action
    2/20/2023 House • Filed
    2/28/2023 House • Referred to Commerce Committee
    • Referred to State Affairs Committee
    • Now in Commerce Committee
    3/6/2023 House • Added to Commerce Committee agenda
    3/7/2023 House • 1st Reading (Original Filed Version)
    3/8/2023 House • Favorable with CS by Commerce Committee
    3/9/2023 House • Reported out of Commerce Committee
    3/10/2023 House • Laid on Table under Rule 7.18(a)
    • CS Filed
    • Referred to State Affairs Committee
    • Now in State Affairs Committee
    • Added to State Affairs Committee agenda
    3/13/2023 House • 1st Reading (Committee Substitute 1)
    3/14/2023 House • Favorable with CS by State Affairs Committee
    • Reported out of State Affairs Committee
    • Laid on Table under Rule 7.18(a)
    • CS Filed
    3/15/2023 House • Bill referred to House Calendar
    • 1st Reading (Committee Substitute 2)
    • Added to Second Reading Calendar
    3/20/2023 House • Bill added to Special Order Calendar (3/23/2023)
    3/23/2023 House • Read 2nd time
    • Amendment 775811 Failed
    • Amendment 742593 Failed
    • Amendment 147429 Failed
    • Placed on 3rd reading
    • Added to Third Reading Calendar
    3/24/2023 House • Read 3rd time
    • CS passed; YEAS 80, NAYS 31
    3/24/2023 Senate • In Messages
    3/27/2023 Senate • Referred to Fiscal Policy
    3/28/2023 Senate • Received
    4/18/2023 Senate • Withdrawn from Fiscal Policy -SJ 418
    • Placed on Calendar, on 2nd reading
    • Substituted for CS/SB 302 -SJ 419
    • Read 2nd time -SJ 418
    • Placed on 3rd reading
    4/19/2023 Senate • Read 3rd time -SJ 431
    • CS passed; YEAS 28 NAYS 12 -SJ 432
    • Immediately certified -SJ 438
    4/19/2023 House • In Messages
    • Ordered enrolled
    5/2/2023 • Signed by Officers and presented to Governor
    • Approved by Governor
    • Chapter No. 2023-28

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  • CS/CS/HB 3, Enrolled (Current Bill Version) Posted 4/19/2023 at 6:48 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 302 (c1) Government and Corporate Activism Grall Identical Last Action: 4/18/2023 S Laid on Table, companion bill(s) passed, see CS/CS/HB 3 (Ch. 2023-28) -SJ 419 Track This Bill

    Citations - Statutes (28)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 8 (pdf)
    17.61 Chief Financial Officer; powers and duties in the investment of certain funds. Page 50 (pdf)
    20.058 Citizen support and direct-support organizations. Page 9 (pdf)
    112.656 Fiduciary duties; certain officials included as fiduciaries. Page 10 (pdf)
    112.661 Investment policies. Page 11 (pdf)
    112.662 Page 11 (pdf)
    175.071 General powers and duties of board of trustees. Page 14 (pdf)
    185.06 General powers and duties of board of trustees. Page 17 (pdf)
    215.44 Board of Administration; powers and duties in relation to investment of trust funds. Page 51 (pdf)
    215.47 Investments; authorized securities; loan of securities. Page 20 (pdf)
    215.475 Investment policy statement. Page 22 (pdf)
    215.4755 Certification and disclosure requirements for investment advisers and managers. Page 22 (pdf)
    215.681 Page 24 (pdf)
    215.855 Page 27 (pdf)
    218.415 Local government investment policies. Page 29 (pdf)
    280.02 Definitions. Page 31 (pdf)
    280.025 Page 33 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 33 (pdf)
    280.051 Grounds for suspension or disqualification of a qualified public depository. Page 36 (pdf)
    280.054 Administrative penalty in lieu of suspension or disqualification. Page 36 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 37 (pdf)
    287.05701 Page 38 (pdf)
    516.037 Page 39 (pdf)
    560.1115 Page 42 (pdf)
    560.114 Disciplinary actions; penalties. Page 44 (pdf)
    655.005 Definitions. Page 45 (pdf)
    655.0323 Page 46 (pdf)
    1010.04 Purchasing. Page 49 (pdf)

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  • CS/CS/HB 3, Committee Substitute 2 Posted 3/14/2023 at 7:08 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 302 (c1) Government and Corporate Activism Grall Identical Last Action: 4/18/2023 S Laid on Table, companion bill(s) passed, see CS/CS/HB 3 (Ch. 2023-28) -SJ 419 Track This Bill

    Floor Amendments (3)

    Amendment Sponsor Filed Last Floor Action Format
    775811 - Amendment
    Remove lines 747-1216 and insert:     		Eskamani 3/21/2023
    3:55 PM     		House: Failed
    3/23/2023     		PDF
    742593 - Amendment
    Remove lines 770-1160 and insert:     		Eskamani 3/21/2023
    3:55 PM     		House: Failed
    3/23/2023     		PDF
    147429 - Amendment
    Remove lines 958-1216     		Eskamani 3/21/2023
    3:56 PM     		House: Failed
    3/23/2023     		PDF

    Floor Votes (2)

    Date Chamber Result
    3/24/2023 11:56 AM House 80 Yeas - 31 Nays
    4/19/2023 4:14 PM Senate 28 Yeas - 12 Nays

    Citations - Statutes (28)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 8 (pdf)
    17.61 Chief Financial Officer; powers and duties in the investment of certain funds. Page 50 (pdf)
    20.058 Citizen support and direct-support organizations. Page 9 (pdf)
    112.656 Fiduciary duties; certain officials included as fiduciaries. Page 10 (pdf)
    112.661 Investment policies. Page 11 (pdf)
    112.662 Page 11 (pdf)
    175.071 General powers and duties of board of trustees. Page 14 (pdf)
    185.06 General powers and duties of board of trustees. Page 17 (pdf)
    215.44 Board of Administration; powers and duties in relation to investment of trust funds. Page 51 (pdf)
    215.47 Investments; authorized securities; loan of securities. Page 20 (pdf)
    215.475 Investment policy statement. Page 22 (pdf)
    215.4755 Certification and disclosure requirements for investment advisers and managers. Page 22 (pdf)
    215.681 Page 24 (pdf)
    215.855 Page 27 (pdf)
    218.415 Local government investment policies. Page 29 (pdf)
    280.02 Definitions. Page 30 (pdf)
    280.025 Page 33 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 33 (pdf)
    280.051 Grounds for suspension or disqualification of a qualified public depository. Page 36 (pdf)
    280.054 Administrative penalty in lieu of suspension or disqualification. Page 36 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 37 (pdf)
    287.05701 Page 38 (pdf)
    516.037 Page 39 (pdf)
    560.1115 Page 42 (pdf)
    560.114 Disciplinary actions; penalties. Page 44 (pdf)
    655.005 Definitions. Page 45 (pdf)
    655.0323 Page 46 (pdf)
    1010.04 Purchasing. Page 49 (pdf)

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  • CS/HB 3, Committee Substitute 1 Posted 3/10/2023 at 8:33 AM

    Bill Text:   PDF
    Analyses:   State Affairs Committee (Post-Meeting) 3/14/2023 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 302 Government and Corporate Activism Grall Similar Last Action: 4/18/2023 S Laid on Table, companion bill(s) passed, see CS/CS/HB 3 (Ch. 2023-28) -SJ 419 Track This Bill

    Committee Amendments (6)

    Amendment Sponsor Filed Last Committee Action Format
    565119 - Amendment
    Remove line 189 and insert:     		Rommel 3/13/2023
    6:55 PM     		Adopted as Amended
    3/14/2023     		PDF
    hierarchy 091089 - Substitute Amendment (565119)
    Remove line 189 and insert:     		Rizo 3/14/2023
    2:48 PM     		Adopted without Objection
    3/14/2023     		PDF
    946729 - Amendment
    Remove line 200 and insert:     		Rommel 3/13/2023
    6:56 PM     		Adopted without Objection
    3/14/2023     		PDF
    533733 - Amendment
    Remove line 326 and insert:     		Rommel 3/13/2023
    6:56 PM     		Adopted without Objection
    3/14/2023     		PDF
    112061 - Amendment
    Remove line 502 and insert:     		Rommel 3/13/2023
    6:57 PM     		Adopted without Objection
    3/14/2023     		PDF
    375725 - Amendment
    Remove line 592 and insert:     		Rommel 3/13/2023
    6:57 PM     		Adopted without Objection
    3/14/2023     		PDF

    Citations - Statutes (28)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 8 (pdf)
    17.61 Chief Financial Officer; powers and duties in the investment of certain funds. Page 50 (pdf)
    20.058 Citizen support and direct-support organizations. Page 9 (pdf)
    112.656 Fiduciary duties; certain officials included as fiduciaries. Page 10 (pdf)
    112.661 Investment policies. Page 11 (pdf)
    112.662 Page 11 (pdf)
    175.071 General powers and duties of board of trustees. Page 14 (pdf)
    185.06 General powers and duties of board of trustees. Page 17 (pdf)
    215.44 Board of Administration; powers and duties in relation to investment of trust funds. Page 51 (pdf)
    215.47 Investments; authorized securities; loan of securities. Page 20 (pdf)
    215.475 Investment policy statement. Page 22 (pdf)
    215.4755 Certification and disclosure requirements for investment advisers and managers. Page 22 (pdf)
    215.681 Page 24 (pdf)
    215.855 Page 27 (pdf)
    218.415 Local government investment policies. Page 29 (pdf)
    280.02 Definitions. Page 30 (pdf)
    280.025 Page 33 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 33 (pdf)
    280.051 Grounds for suspension or disqualification of a qualified public depository. Page 36 (pdf)
    280.054 Administrative penalty in lieu of suspension or disqualification. Page 36 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 37 (pdf)
    287.05701 Page 38 (pdf)
    516.037 Page 39 (pdf)
    560.1115 Page 42 (pdf)
    560.114 Disciplinary actions; penalties. Page 44 (pdf)
    655.005 Definitions. Page 45 (pdf)
    655.0323 Page 46 (pdf)
    1010.04 Purchasing. Page 49 (pdf)

    Top of SectionTop of Page

  • HB 3, Original Filed Version Posted 2/20/2023 at 11:37 AM

    Bill Text:   PDF
    Analyses:   Commerce Committee (Post-Meeting) 5/4/2023 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 302 Government and Corporate Activism Grall Similar Last Action: 4/18/2023 S Laid on Table, companion bill(s) passed, see CS/CS/HB 3 (Ch. 2023-28) -SJ 419 Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    485905 - Amendment
    Remove lines 439-1139 and insert:     		Rommel 3/7/2023
    6:28 PM     		Adopted without Objection
    3/8/2023     		PDF
    hierarchy 268823 - Amendment to Amendment (485905)
    Remove line 703 of the amendment and insert:     		Rommel 3/8/2023
    9:43 AM     		Adopted without Objection
    3/8/2023     		PDF

    Citations - Statutes (27)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 5 (pdf)
    17.61 Chief Financial Officer; powers and duties in the investment of certain funds. Page 47 (pdf)
    20.058 Citizen support and direct-support organizations. Page 7 (pdf)
    112.656 Fiduciary duties; certain officials included as fiduciaries. Page 8 (pdf)
    112.661 Investment policies. Page 8 (pdf)
    112.662 Page 9 (pdf)
    175.071 General powers and duties of board of trustees. Page 11 (pdf)
    185.06 General powers and duties of board of trustees. Page 15 (pdf)
    215.44 Board of Administration; powers and duties in relation to investment of trust funds. Page 48 (pdf)
    215.47 Investments; authorized securities; loan of securities. Page 18 (pdf)
    215.475 Investment policy statement. Page 19 (pdf)
    215.4755 Certification and disclosure requirements for investment advisers and managers. Page 20 (pdf)
    215.681 Page 21 (pdf)
    215.855 Page 25 (pdf)
    218.415 Local government investment policies. Page 26 (pdf)
    280.02 Definitions. Page 28 (pdf)
    280.025 Page 30 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 31 (pdf)
    280.051 Grounds for suspension or disqualification of a qualified public depository. Page 33 (pdf)
    280.054 Administrative penalty in lieu of suspension or disqualification. Page 34 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 35 (pdf)
    287.05701 Page 35 (pdf)
    516.037 Page 36 (pdf)
    560.1115 Page 39 (pdf)
    655.005 Definitions. Page 42 (pdf)
    655.0323 Page 43 (pdf)
    1010.04 Purchasing. Page 46 (pdf)

    Top of SectionTop of Page