Bills › 89th General Assembly
HSB 32
Topics:Business & economy
Where it is now
- Done: IntroducedJanuary 13, 2021
- Done: SubcommitteeJanuary 13, 2021
- Done: House committeeJanuary 25, 2021
- Skipped: Passes the HouseContinued as HF 236
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 236 → Its progress continues under the new number. Go to HF 236 What’s a funnel?
What’s in it
AI summary Life insurance companies and associations would be allowed to invest their extra cash in certain government-backed agreements. These agreements would use securities that take 270 days or longer to mature, rather than being limited to shorter periods. This change affects how these companies manage the money they hold in their reserves.1
Read the official explanation
This bill allows life insurance companies and associations to reinvest cash or cash equivalent collateral for loans from securities held in their legal reserves in repurchase agreements collateralized by securities in United States government obligations maturing in 270 days or more. Under current law, all securities that collateralize repurchase agreements must mature in less than 270 days. “United States government obligations” is described in the bill. The bill applies to cash or cash equivalent reinvestments, by life insurance companies and associations, made in repurchase agreements collateralized by securities, on or after January 1, 2022.
House subcommittee
Named January 13, 2021. On January 20, 2021 it recommended passage.
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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89th General Assembly