Bills › 88th General Assembly
Where it is now
- Done: IntroducedJanuary 16, 2020
- Done: SubcommitteeJanuary 17, 2020
- Done: House committeeMarch 3, 2020
- Done: Passes the HouseMarch 3, 2020
- Skipped: Senate committeeSkipped
- Done: Passes the SenateFebruary 24, 202048–0
- Done: To the GovernorMarch 11, 2020
- Done: Signed into lawMarch 12, 2020
SF 2132 became law → The same legislation passed as SF 2132, so this version was set aside. Go to SF 2132 What’s a funnel?
What’s in it
AI summary Life insurance companies can invest in certain financial tools to help meet their legal requirements. This change updates the definition of which specific tools they are allowed to use for these transactions. It expands the list of approved options by adding a new definition from a national accounting standard.1
Read the official explanation
Life insurance companies may invest in, among other things, certain financial instruments used in hedging transactions to satisfy their legal reserve requirements. A maximum of percent of a life insurance company’s legal reserve may be held in the form of securities pledged as collateral in highly effective hedging transactions. 86. This bill modifies the definition of “highly effective hedging transaction” to also include the definition of highly effective hedging transaction contained in the national association of insurance commissioners’ statement of statutory account principles no. _____ 108.
House subcommittee
Named January 17, 2020. On January 27, 2020 it recommended passage. H.J. 166.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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88th General Assembly