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CT SB00216
Bill
Status
2/18/2026
Primary Sponsor
Banking Committee
Click for details
AI Summary
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State Treasurer may invest up to $300 million from state operating cash with eligible community banks and credit unions
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Community banks and credit unions with assets exceeding $2 billion were ineligible from July 1, 2023 through September 29, 2024; after September 30, 2024, the asset limit adjusts based on the previous limit plus median percentage loan growth of eligible institutions
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Changes the application process from "competitive bidding" to a general "procedure" for banks and credit unions to apply for investment-related services
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State Treasurer may accept rates for investment services up to 100 basis points below the previous day's yield on comparable U.S. Treasury securities with matching maturity dates
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Effective October 1, 2026
Legislative Description
An Act Concerning The Community Bank And Credit Union Investment Program Established By The State Treasurer.
Last Action
Referred to Office of Legislative Research and Office of Fiscal Analysis 03/23/26 12:00 PM
3/16/2026