SB 408 IN

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Became Law

Amends the statute authorizing a bank or trust company to make investments in community based economic development to also authorize investments in: (1) any community and economic development entity, community development project, or other public welfare investment; and (2) tax equity finance transactions; subject to the investments being made in compliance with applicable federal regulations and any regulation, rule, policy, or guidance adopted by the department of financial institutions. Authorizes savings banks and savings associations to engage in tax equity finance transactions.

• Andy Zay · author
• Kyle Walker Republican · author
• Martin Carbaugh Republican · sponsor

1. Jan 12, 2022 Authored by Senator Zay · upper
2. Jan 12, 2022 First reading: referred to Committee on Insurance and Financial Institutions · upper
3. Jan 20, 2022 Committee report: amend do pass, adopted · upper
4. Jan 20, 2022 Senator Bohacek added as coauthor · upper
5. Jan 24, 2022 Second reading: ordered engrossed · upper
6. Jan 25, 2022 Third reading: passed; Roll Call 84: yeas 46, nays 0 · upper
7. Jan 25, 2022 House sponsor: Representative Carbaugh · upper
8. Jan 25, 2022 Cosponsor: Representative Lehman · upper
9. Jan 25, 2022 Senator Walker K added as second author · upper
10. Jan 25, 2022 Senator Baldwin added as coauthor · upper
11. Jan 25, 2022 Senator Randolph added as coauthor · upper
12. Jan 25, 2022 Senator Sandlin added as coauthor · upper
13. Jan 26, 2022 Referred to the House · upper
14. Feb 1, 2022 First reading: referred to Committee on Financial Institutions and Insurance · lower
15. Feb 15, 2022 Committee report: do pass, adopted · lower
16. Feb 17, 2022 Second reading: ordered engrossed · lower
17. Feb 21, 2022 Third reading: passed; Roll Call 215: yeas 93, nays 1 · lower
18. Feb 22, 2022 Returned to the Senate without amendments · lower
19. Mar 1, 2022 Signed by the Speaker · lower
20. Mar 1, 2022 Signed by the President Pro Tempore · upper
21. Mar 7, 2022 Signed by the President of the Senate · upper
22. Mar 7, 2022 Signed by the Governor · executive
23. Mar 7, 2022 Public Law 31 · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled Senate Bill (S) · Feb 22, 2022 · PDF
• Introduced Senate Bill (S) · Jan 12, 2022 · PDF
• Senate Bill (S) · Jan 20, 2022 · PDF
• Senate Bill (H) · Feb 15, 2022 · PDF