CO HB1277

Authorizes credit unions to make loans to public entities and permits public money deposits in federally insured credit unions under the National Credit Union Administration (NCUA).

Renames the "Savings and Loan Association Public Deposit Protection Act" to the "Credit Union and Savings and Loan Association Public Deposit Protection Act" and adds credit unions throughout the deposit protection framework.

Requires the state commissioner of financial services to assess credit unions at least semiannually for the cost of monitoring compliance with public deposit protection laws.

Expands existing public money depository statutes to include credit unions alongside banks and savings and loan associations for state treasurers, county treasurers, municipalities, and special districts.

Takes effect 90 days after final adjournment of the 2022 legislative session, subject to referendum petition.