Indiana 2024 Regular Session Status: Enacted 4 R cosponsors

SB 220 — Financial institutions and consumer credit.

Last action — Public Law 30

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 09, 2024. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 60% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 5 sponsors

    3 primary, 2 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 R).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Provides that a reference to federal law in: (1) the first lien mortgage lending act; (2) the Uniform Consumer Credit Code; or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2023 (rather than December 31, 2022, under current law). Amends Indiana Code provisions concerning accounting practices for credit unions to reflect a new accounting standard that replaces the allowance for loan and lease losses accounting methodology with the allowance for credit losses methodology, as required by the Financial Accounting Standards Board. Establishes a new chapter in the Indiana Code article containing general provisions with respect to financial institutions to require corporations (defined as certain financial institutions organized or reorganized under Indiana law) to notify the director of the department of financial institutions of a reportable cyber incident or notification incident in accordance with the same procedures required by the corporation's federal supervisory authority or federal insurer.

Bill Text

We don't have the full text on file for this bill yet.

Read SB 220 on the official Indiana source →

Action History

  1. Public Law 30

  2. Signed by the Governor

  3. Signed by the President of the Senate

  4. Signed by the Speaker

  5. Signed by the President Pro Tempore

  6. Returned to the Senate without amendments

  7. Third reading: passed; Roll Call 231: yeas 94, nays 0

  8. Second reading: ordered engrossed

  9. Representative Speedy added as cosponsor

  10. Representative Speedy removed as sponsor

  11. Representative Teshka added as sponsor

  12. Committee report: do pass, adopted

  13. First reading: referred to Committee on Financial Institutions

  14. Referred to the House

  15. Senator Baldwin added as coauthor

  16. House sponsor: Representative Speedy

  17. Third reading: passed; Roll Call 24: yeas 47, nays 1

  18. Senator Deery added as second author

  19. Second reading: ordered engrossed

  20. Committee report: amend do pass, adopted

  21. First reading: referred to Committee on Insurance and Financial Institutions

  22. Authored by Senator Bassler

Sponsors

Sponsorship breakdown

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3 sponsors · 2 co-sponsors · 145 not signed on

Sponsors (3)

Co-sponsors (2)

Not signed on (145)

145 members have not signed on to this bill.

Show all 145 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 220 do?
Provides that a reference to federal law in: (1) the first lien mortgage lending act; (2) the Uniform Consumer Credit Code; or (3) the Indiana Code title governing financial institutions; is a reference to the law as in effect December 31, 2023 (rather than December 31, 2022, under current law). Amends Indiana Code provisions concerning accounting practices for credit unions to reflect a new accounting standard that replaces the allowance for loan and lease losses accounting methodology with the allowance for credit losses methodology, as required by the Financial Accounting Standards Board. Establishes a new chapter in the Indiana Code article containing general provisions with respect to financial institutions to require corporations (defined as certain financial institutions organized or reorganized under Indiana law) to notify the director of the department of financial institutions of a reportable cyber incident or notification incident in accordance with the same procedures required by the corporation's federal supervisory authority or federal insurer.
Who sponsors SB 220?
SB 220 is sponsored by Mike Speedy, Jake Teshka (Republican), Scott Baldwin (Republican), Spencer Deery (Republican), and Eric Bassler (Republican).
What is the current status of SB 220?
This bill has been enacted into law. Introduced January 09, 2024. Enacted.
Where can I track SB 220?
Track SB 220 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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