HB 1011 IN

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Became Law

Allows a town to invest the proceeds received from the sale of a capital asset made after December 15, 2021, and before January 1, 2023, in the same manner as the next generation trust fund if the proceeds from the sale exceed $24,000,000 but do not exceed $26,000,000. (Under current law, a political subdivision is authorized to invest the proceeds received from the sale of certain capital assets in the same manner as the next generation trust fund only if the proceeds exceed $50,000,000.) In addition, requires the fiscal body of the town to contract with a financial institution eligible to receive public funds of a political subdivision to assist the town in its investment program.

• Mike Aylesworth Republican · author
• Rick Niemeyer Republican · sponsor
• Ed Charbonneau Republican · sponsor

1. Jan 4, 2022 Authored by Representative Aylesworth · lower
2. Jan 4, 2022 First reading: referred to Committee on Ways and Means · lower
3. Jan 10, 2022 Committee report: do pass, adopted · lower
4. Jan 12, 2022 Representatives Olthoff and Slager added as coauthors · lower
5. Jan 13, 2022 Amendment #1 (Aylesworth) prevailed; voice vote · lower
6. Jan 13, 2022 Second reading: amended, ordered engrossed · lower
7. Jan 18, 2022 Third reading: passed; Roll Call 22: yeas 90, nays 0 · lower
8. Jan 18, 2022 Representative Andrade M added as coauthor · lower
9. Jan 18, 2022 Senate sponsor: Senator Niemeyer · lower
10. Jan 19, 2022 Referred to the Senate · lower
11. Feb 1, 2022 First reading: referred to Committee on Appropriations · upper
12. Feb 14, 2022 Committee report: do pass, adopted · upper
13. Feb 17, 2022 Second reading: ordered engrossed · upper
14. Feb 21, 2022 Third reading: passed; Roll Call 213: yeas 47, nays 0 · upper
15. Feb 21, 2022 Senator Charbonneau added as second sponsor · upper
16. Feb 22, 2022 Senator Randolph added as cosponsor · upper
17. Feb 22, 2022 Returned to the House without amendments · upper
18. Feb 24, 2022 Signed by the President Pro Tempore · upper
19. Feb 24, 2022 Signed by the Speaker · lower
20. Mar 15, 2022 Signed by the President of the Senate · upper
21. Mar 18, 2022 Signed by the Governor · executive
22. Mar 18, 2022 Public Law 157 · lower

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 House Bill (H) · Feb 23, 2022 · PDF
• Introduced House Bill (H) · Dec 30, 2021 · PDF
• House Bill (H) · Jan 10, 2022 · PDF
• Engrossed House Bill (H) · Jan 13, 2022 · PDF
• House Bill (S) · Feb 14, 2022 · PDF