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The Florida Senate

HB 721: Public Deposits


Public Deposits; Prohibits CFO from designating credit unions as qualified public depositories unless certain requirements are met; requires CFO to withdraw from specified collateral agreements; requires return of public deposits in credit unions under certain circumstances; authorizes CFO to limit amount of public deposits in credit unions; provides procedures for suspension or disqualification of credit unions; authorizes credit unions to be reinstated as qualified public depositories; requires credit unions that are designated as qualified public depositories to guarantee depositors against loss.

Effective Date: 7/1/2020
Last Action: 3/14/2020 House - Died in Insurance and Banking Subcommittee
Bill Text: PDF

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  • Bill History

    Date Chamber Action
    11/20/2019 House • Filed
    12/3/2019 House • Referred to Insurance and Banking Subcommittee; Government Operations and Technology Appropriations Subcommittee; Commerce Committee -HJ 58
    1/14/2020 House • Introduced -HJ 59
    3/14/2020 House • Indefinitely postponed and withdrawn from consideration
    • Died in Insurance and Banking Subcommittee

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  • HB 721, Original Filed Version (Current Bill Version) Posted 11/20/2019 at 2:36 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 990 Public Deposits Hutson Similar Last Action: 3/14/2020 S Died in Banking and Insurance

    Citations - Statutes (33)

    Citation Catchline Location in Bill Location In Bill Help
    17.57 Deposits and investments of state money. Page 19 (pdf)
    17.68 Financial Literacy Program for Individuals with Developmental Disabilities. Page 20 (pdf)
    24.114 Bank deposits and control of lottery transactions. Page 21 (pdf)
    125.901 Children’s services; independent special district; council; powers, duties, and functions; public records exemption. Page 22 (pdf)
    136.01 County depositories. Page 23 (pdf)
    159.608 Powers of housing finance authorities. Page 24 (pdf)
    175.301 Depository for pension funds. Page 25 (pdf)
    175.401 Retiree health insurance subsidy. Page 26 (pdf)
    185.30 Depository for retirement fund. Page 27 (pdf)
    185.50 Retiree health insurance subsidy. Page 28 (pdf)
    190.007 Board of supervisors; general duties. Page 29 (pdf)
    191.006 General powers. Page 29 (pdf)
    215.34 State funds; noncollectible items; procedure. Page 30 (pdf)
    218.415 Local government investment policies. Page 31 (pdf)
    255.502 Definitions; ss. 255.501-255.525. Page 33 (pdf)
    280.02 Definitions. Page 4 (pdf)
    280.03 Public deposits to be secured; prohibitions; exemptions. Page 6 (pdf)
    280.042 Page 6 (pdf)
    280.05 Powers and duties of the Chief Financial Officer. Page 8 (pdf)
    280.052 Order of suspension or disqualification; procedure. Page 9 (pdf)
    280.053 Period of suspension or disqualification; obligations during period; reinstatement. Page 9 (pdf)
    280.055 Cease and desist order; corrective order; administrative penalty. Page 10 (pdf)
    280.07 Mutual responsibility and contingent liability. Page 11 (pdf)
    280.08 Procedure for payment of losses. Page 12 (pdf)
    280.085 Notice to claimants. Page 13 (pdf)
    280.09 Public Deposits Trust Fund. Page 14 (pdf)
    280.10 Effect of merger, acquisition, or consolidation; change of name or address. Page 16 (pdf)
    280.13 Eligible collateral. Page 17 (pdf)
    280.17 Requirements for public depositors; notice to public depositors and governmental units; loss of protection. Page 19 (pdf)
    331.309 Treasurer; depositories; fiscal agent. Page 33 (pdf)
    373.553 Treasurer of the board; payment of funds; depositories. Page 35 (pdf)
    631.221 Deposit of moneys collected. Page 35 (pdf)
    723.06115 Florida Mobile Home Relocation Trust Fund. Page 36 (pdf)

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