CS/HB 925: Benchmark Replacements for London Interbank Offered Rate
GENERAL BILL by Insurance and Banking Subcommittee ; Stevenson ; (CO-INTRODUCERS) Smith, D.
Benchmark Replacements for London Interbank Offered Rate; Requires recommended benchmark replacements selected or recommended by specified persons be benchmark replacements on United States dollar London Interbank Offered Rate (LIBOR) replacement date for contracts, securities, & instruments; requires fallback provisions in contracts, securities, & instruments providing specified benchmark replacements be disregarded & void; authorizes specified persons to select benchmark replacements; requires benchmark replacement conforming changes to become integral part of contracts, securities, & instruments; provides person is not liable for damages & is not subject to claims & requests for equitable relief under certain circumstances.
Bill History
| Date | Chamber | Action |
|---|---|---|
| 12/15/2021 | House |
• Filed |
| 1/3/2022 | House |
• Referred to Insurance & Banking Subcommittee • Referred to Civil Justice & Property Rights Subcommittee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee |
| 1/11/2022 | House |
• Added to Insurance & Banking Subcommittee agenda • 1st Reading (Original Filed Version) |
| 1/13/2022 | House |
• Favorable with CS by Insurance & Banking Subcommittee |
| 1/14/2022 | House |
• Reported out of Insurance & Banking Subcommittee • Laid on Table under Rule 7.18(a) • CS Filed |
| 1/18/2022 | House |
• 1st Reading (Committee Substitute 1) • Referred to Civil Justice & Property Rights Subcommittee • Referred to Commerce Committee • Now in Civil Justice & Property Rights Subcommittee |
| 1/25/2022 | House |
• Added to Civil Justice & Property Rights Subcommittee agenda |
| 1/27/2022 | House |
• Favorable by Civil Justice & Property Rights Subcommittee • Reported out of Civil Justice & Property Rights Subcommittee • Now in Commerce Committee |
| 1/28/2022 | House |
• Added to Commerce Committee agenda |
| 2/1/2022 | House |
• Favorable by Commerce Committee • Reported out of Commerce Committee • Bill released to House Calendar • Added to Second Reading Calendar |
| 2/17/2022 | House |
• Bill added to Special Order Calendar (2/22/2022) |
| 2/22/2022 | House |
• Read 2nd time • Placed on 3rd reading • Added to Third Reading Calendar |
| 2/24/2022 | House |
• Read 3rd time • CS passed; YEAS 114, NAYS 0 • Immediately certified |
| 2/24/2022 | Senate |
• In Messages • Referred to Rules -SJ 463 |
| 2/28/2022 | Senate |
• Received -SJ 463 |
| 3/2/2022 | Senate |
• Withdrawn from Rules -SJ 506 • Placed on Calendar, on 2nd reading • Substituted for CS/SB 1246 -SJ 506 • Read 2nd time -SJ 506 • Read 3rd time -SJ 506 • CS passed; YEAS 38 NAYS 0 -SJ 506 |
| 3/2/2022 | House |
• In Messages • Ordered enrolled |
| 3/28/2022 |
• Signed by Officers and presented to Governor |
|
| 4/6/2022 |
• Approved by Governor |
|
| 4/8/2022 |
• Chapter No. 2022-57 |
