SENATE BILL 1

Sponsored By:

Senator Currie (Co-Chairman, Joint Committee on the Management of Public Funds)

Entitled:

Local Government Investment Authority

Synopsis:

Modifying provisions governing the deposit and investment of money by political subdivisions of the State; clarifying the authority of an authorized acknowledged agent to act on a governmental unit's behalf; clarifying provisions relating to collateral; repealing various provisions relating to the investment authority of particular political subdivisions; removing the Washington Suburban Transit Commission from provisions concerning local government investment guidelines; establishing the Montgomery County Investment Pool; etc.

Legislative History

Senate Action

7/10

Pre-filed

1/8

First Reading Budget and Taxation

1/15

Hearing 1/29 at 1:30 p.m.

2/24

Favorable with Amendments Report by Budget and Taxation

2/25

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

2/27

Third Reading Passed (47-0)

4/2

Returned Passed

5/8

Signed by the Governor Chapter 319

House Action

2/28

First Reading Appropriations

3/5

Hearing 3/20 at 1:00 p.m.

4/1

Favorable Report by Appropriations

3/28

Favorable Report Adopted

Second Reading Passed

3/29

Third Reading Passed (131-0)

Sponsored by:

Senator Ulysses Currie, District 25

Management of Public Funds, Jt. Comm. on t he

Bill indexed under the following Subjects:

BANKS AND TRUST COMPANIES

COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES

EDUCATION, BOARDS OF

FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U

INVESTMENTS

MASS TRANSIT -see also- BUSES; RAILROADS

MONTGOMERY COUNTY

MUNICIPAL CORPORATIONS

REPORTS -see also- RECORDS

SAVINGS AND LOAN ASSOCIATIONS

SPECIAL TAX DISTRICTS

Bill affects the following Statutes:

Article - 95 Treasurer

( 22 , 22A , 22F , 22H , 22-I )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 599304/1 (PDF) Offered on: FEBRUARY 25, 1997 at: 10:51 Status: Adopted