WA People
BILL · 2015–16 SESSION · LATEST VERSION ESB 6349

SB 6349: Public funds and deposits

Concerning public funds and deposits.

Summary

  • Changes the definitions of certain terms related to the Public Deposit Protection Commission and public depositaries.
  • Makes related changes and clarifications concerning public depositaries.
  • Eliminates provisions authorizing the State of Washington or any local government to invest in any manner that is authorized for the state or other local governments.
  • Preserves the authority of the state or local governments to make investments that law specifically provides for those entities.
  • Requires that state or local government investments in commercial paper or corporate notes comply with policies adopted by the Washington State Investment Board.
  • Eliminates the authority of the State of Washington and local governments to invest in certain mortgage-related and financial institution-related debt.

From the Engrossed House Bill Report (ESB 6349), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 152, Laws of 2016
  1. IntroducedJan 18, 2016
  2. Out of committeeJan 21, 2016
  3. Passed SenateFeb 16, 2016
  4. Passed HouseMar 4, 2016
  5. GovernorMar 31, 2016
  6. LawMar 31, 2016
Prime sponsor
Don Benton (R-17)
Introduced
January 18, 2016 in the Senate
Last action
March 31, 2016
Session law
Chapter 152, Laws of 2016
Requested by
State agency
Companion bill
HB 2640
Budget
Has a fiscal note

AN ACT Relating to public funds and deposits;

Sponsors

Prime sponsor: Don Benton (R-17)

1 co-sponsor (1 Democrat, 0 Republicans)

Mark Mullet D-5

Votes

Senate · 3rd Reading & Final Passage

Passed February 16, 2016
Version voted on: ESB 6349
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage as Amended by the House

Passed March 4, 2016
Version voted on: ESB 6349
93 Yea 4 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat50000
Republican43401
How each member voted

Yea (93)

Excused (1)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed March 9, 2016
Version voted on: ESB 6349
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

History

  1. Effective date 6/9/2016. (ESB 6349)
  2. Chapter 152, 2016 Laws. (ESB 6349)
  3. Governor signed. (ESB 6349)
  4. Delivered to Governor. (ESB 6349)
  5. President signed. (ESB 6349)
  6. Speaker signed. (ESB 6349)
  7. Passed final passage; yeas, 49; nays, 0; absent, 0; excused, 0. (ESB 6349)
  8. Senate concurred in House amendments. (ESB 6349)
  9. Third reading, passed; yeas, 93; nays, 4; absent, 0; excused, 1. (ESB 6349)
  10. Rules suspended. Placed on Third Reading. (ESB 6349)
  11. Floor amendment(s) adopted. (ESB 6349)
  12. Placed on second reading by Rules Committee. (ESB 6349)
  13. Referred to Rules 2 Review. (ESB 6349)
  14. BFS - Majority; do pass. (ESB 6349)
  15. First reading, referred to Business & Financial Services (Not Officially read and referred until adoption of Introduction report). (ESB 6349)
  16. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (ESB 6349)
  17. Rules suspended. Placed on Third Reading. (ESB 6349)
  18. Floor amendment(s) adopted. (ESB 6349)
  19. Placed on second reading by Rules Committee. (ESB 6349)
  20. FI - Majority; do pass. (ESB 6349)
  21. Passed to Rules Committee for second reading. (ESB 6349)
  22. First reading, referred to Financial Institutions & Insurance. (ESB 6349)

SB 6349 in other sessions

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

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