WA People
BILL · 2017–18 SESSION · LATEST VERSION SHB 1966

HB 1966: Retirement marketplace reqs.

Addressing the minimum operating requirements and the review of plans necessary to be included in the small business retirement marketplace.

Summary

  • Allows financial services firms to charge enrollees a de minimis fee for new and low balance accounts in amounts negotiated and agreed upon by the Department of Commerce.
  • Changes the plan verification process to allow the Office of the Insurance Commissioner to request the Department of Financial Institutions to review whether a life insurance or annuity plan's license is in good standing.

From the Substitute House Bill Report (SHB 1966), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedFeb 6, 2017
  2. Out of committeeFeb 17, 2017
  3. Passed HouseMar 2, 2017
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Derek Stanford (D-1)
Introduced
February 6, 2017 in the House
Last action
January 8, 2018
Companion bill
SB 5675
Versions
HB 1966, SHB 1966

AN ACT Relating to the minimum operating requirements and the review of plans necessary to be included in the small business retirement marketplace;

Sponsors

Prime sponsor: Derek Stanford (D-1)

3 co-sponsors (2 Democrats, 1 Republican)

Brandon Vick R-18Steve Kirby D-29Timm Ormsby D-3

Votes

House · Final Passage

Passed March 2, 2017
Version voted on: SHB 1966
69 Yea 29 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat50000
Republican192900
How each member voted

Yea (69)

Permalink to this vote

History

  1. Referred to Business & Financial Services. (SHB 1966)
  2. Rules Committee relieved of further consideration. (SHB 1966)
  3. By resolution, reintroduced and retained in present status. (SHB 1966)
  4. By resolution, reintroduced and retained in present status. (SHB 1966)
  5. By resolution, reintroduced and retained in present status. (SHB 1966)
  6. By resolution, reintroduced and retained in present status. (SHB 1966)
  7. By resolution, returned to House Rules Committee for third reading. (SHB 1966)
  8. First reading, referred to Financial Institutions & Insurance. (SHB 1966)
  9. Third reading, passed; yeas, 69; nays, 29; absent, 0; excused, 0. (SHB 1966)
  10. Rules suspended. Placed on Third Reading. (SHB 1966)
  11. 1st substitute bill substituted. (SHB 1966)
  12. 1st substitute bill substituted.
  13. Placed on second reading by Rules Committee. (SHB 1966)
  14. Placed on second reading by Rules Committee.
  15. Referred to Rules 2 Review. (SHB 1966)
  16. Referred to Rules 2 Review.
  17. BFS - Majority; 1st substitute bill be substituted, do pass. (SHB 1966)
  18. BFS - Majority; 1st substitute bill be substituted, do pass.
  19. First reading, referred to Business & Financial Services (Not Officially read and referred until adoption of Introduction report).

HB 1966 in other sessions

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

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