Yesterday, legislation that would allow credit unions to become qualified public depositories in the state of Florida was filed in the Senate. SB 1170 by Sen. Travis Hutson (R-Palm Coast) is now officially ready to be referenced to committees and begin moving through the legislative process.
The House companion is currently in its final stages of bill drafting and is expected to be introduced in the coming days. The Advocacy team has been meeting with leaders in both the House and the Senate on this issue and is pleased to get the process moving. Be on the lookout for action alerts related to public deposits and other legislation as session begins March 7. If you have any questions, please contact SVP, Association Services Jared Ross.