An Act to allow municipalities to deposit in credit unions
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill would allow Massachusetts cities and towns to deposit funds into credit unions. Currently, municipalities are generally limited in where they can invest public money. This legislation seeks to expand those options by allowing them to invest in credit unions, potentially benefiting local communities and supporting these financial institutions.
Key provisions
- Municipalities can deposit funds into credit unions.
- This expands investment options for local governments.
- The bill aims to support the growth and stability of credit unions.
Who is affected
- Massachusetts municipalities
- Credit unions
- Local taxpayers
- State government
Notable changes
- Currently, municipalities have limited investment options for public funds.
- This bill would create a new avenue for municipal investment.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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