WA People
BILL · 2015–16 SESSION

SB 5265: Public funds/recip. deposits

Allowing a public depository to arrange for reciprocal deposits of public funds.

Summary

  • Authorizes public funds to be deposited in an out-of-state institution, subject to requirements including that the public funds are initially deposited in an in-state public depositary and that the in-state public depositary receive an equal or greater deposit of funds on the same day the public funds are transferred to the out-of-state institution for deposit.

From the House Bill Report (SB 5265), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 2, Laws of 2016, 1st Special Session
  1. IntroducedJan 16, 2015
  2. Out of committeeFeb 6, 2015
  3. Passed SenateFeb 16, 2016
  4. Passed HouseMar 2, 2016
  5. GovernorMar 10, 2016
  6. LawMar 29, 2016
Prime sponsor
Don Benton (R-17)
Introduced
January 16, 2015 in the Senate
Last action
March 29, 2016
Session law
Chapter 2, Laws of 2016, 1st Special Session
Companion bill
HB 1304
Budget
Has a fiscal note

AN ACT Relating to allowing a public depository to arrange for reciprocal deposits of public funds;

Sponsors

Prime sponsor: Don Benton (R-17)

3 co-sponsors (2 Democrats, 1 Republican)

Mark Mullet D-5Jan Angel R-26Karen Keiser D-33

Votes

Senate · 3rd Reading & Final Passage

Passed February 16, 2016
Version voted on: SB 5265
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage

Passed March 2, 2016
Version voted on: SB 5265
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat50000
Republican47001
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

Senate · Passage notwithstanding the Governor's Veto

Recorded March 28, 2016
Version voted on: SB 5265
43 Yea 0 Nay 0 Absent 6 Excused
PartyYeaNayAbsentExcused
Democrat18006
Republican25000
How each member voted
Permalink to this vote

House · Final Passage notwithstanding Governor's Veto

Recorded March 29, 2016
Version voted on: SB 5265
87 Yea 7 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat40703
Republican47001
How each member voted

Yea (87)

Permalink to this vote

History

  1. Effective date 6/28/2016.
  2. Chapter 2, 2016 Laws 1st Special Session.
  3. Filed with Secretary of State.
  4. On motion, Governor's veto overridden; yeas, 87; nays, 7; absent, 0; excused, 4.
  5. On motion, Governor's veto overridden; yeas, 43; nays, 0; absent, 0; excused, 6.
  6. Governor vetoed.
  7. Delivered to Governor.
  8. Speaker signed.
  9. President signed.
  10. Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1.
  11. Rules suspended. Placed on Third Reading.
  12. Placed on second reading by Rules Committee.
  13. Referred to Rules 2 Review.
  14. BFS - Majority; do pass.
  15. First reading, referred to Business & Financial Services (Not Officially read and referred until adoption of Introduction report).
  16. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0.
  17. Rules suspended. Placed on Third Reading.
  18. Placed on second reading by Rules Committee.
  19. Moved to Rules White Sheet.
  20. By resolution, reintroduced and retained in present status.
  21. By resolution, reintroduced and retained in present status.
  22. By resolution, reintroduced and retained in present status.
  23. By resolution, reintroduced and retained in present status.
  24. Senate Rules "X" file.
  25. Placed on second reading.
  26. Placed on second reading consent calendar.
  27. Passed to Rules Committee for second reading.
  28. FI - Majority; do pass.
  29. First reading, referred to Financial Institutions & Insurance.

SB 5265 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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