SB1320C-DEPOSITARIES OF STATE INSTITUTIONS
Summary of the House Committee Version of the Bill

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

Copyright (c) Missouri House of Representatives

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Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am