SB 1320 -- DEPOSITARIES OF STATE INSTITUTIONS SPONSOR: Kinder (Luetkemeyer) COMMITTEE ACTION: Voted "do pass by consent" by the Committee on Financial Services by a vote of 20 to 0. Currently, management of state institutions which have the use or custody of any funds solicit bids from banks in each odd-numbered year. This bill authorizes them to solicit bids in any year in which the bid is requested. The bill provides that bids may be for a period of one to four years. Banks are authorized to submit bids for a term of up to four years. FISCAL NOTE: No impact on state funds in FY 2005, FY 2006, and FY 2007. PROPONENTS: Supporters say that the bill gives financial institutions and state institutions more flexibility in their finances. Testifying for the bill was Senator Kinder. OPPONENTS: There was no opposition voiced to the committee. Richard Smreker, Senior Legislative Analyst