An Act to allow municipalities to deposit into credit unions
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill would allow Massachusetts municipalities to deposit funds into credit unions. Currently, municipalities are often restricted in where they can place their investments. This legislation aims to provide municipalities with an additional option for managing their financial assets, potentially benefiting local economies and residents. The bill seeks to expand access to credit union services for municipal funds.
Key provisions
- Municipalities can deposit funds into credit unions.
- This would provide an alternative investment option for municipal funds.
- It allows municipalities to utilize credit unions as a financial partner.
Who is affected
- Massachusetts municipalities
- Credit unions
- Municipal bondholders
- Local taxpayers
Notable changes
- Currently, municipalities have limited options for investing their funds.
- This bill would create a new avenue for municipal deposits.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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