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 money. This legislation seeks to broaden those options and potentially benefit local governments and credit unions. The bill’s goal is to provide municipalities with greater flexibility in managing their financial resources.
Key provisions
- Municipalities can deposit funds into credit unions.
- This expands investment options for local governments.
- The bill aims to support credit union growth and stability.
- No specific investment limits are outlined in the text.
Who is affected
- Massachusetts municipalities
- Credit unions
- Local government treasurers
Notable changes
- Currently, municipalities have limited options for where they can deposit funds.
- This bill removes restrictions on depositing into credit unions.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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