An Act establishing fairness in GIC premium contributions
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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, S.1880, aims to ensure fairness in how premium contributions are handled for Guaranteed Investment Contracts (GICs). It seeks to address potential inequities or imbalances in the current system, though the specific details of the proposed changes are not outlined in the available text. The bill was referred to the Public Service committee and subsequently heard.
Key provisions
- Establishes fairness in GIC premium contributions.
- Addresses potential inequities within the GIC system.
- Likely involves adjustments to how premium contributions are calculated or managed.
- The bill was accompanied by a study order (S2786).
Who is affected
- Individuals with GICs
- Financial institutions offering GICs
- The Massachusetts government (due to the state's involvement in GIC regulation)
Notable changes
- The bill proposes changes to GIC premium contributions, but the specifics are not detailed in the provided text.
Bill text
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Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Arguments
Reasons offered for and against this legislation.
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