FL H0769

Creates new requirements for credit unions to be designated as qualified public depositories, including obtaining signed statements from public officials confirming intent to deposit over $250,000 and requiring at least four other credit unions to meet the same conditions.

Requires the Chief Financial Officer to withdraw from collateral agreements with credit unions if fewer than five credit unions are designated as qualified public depositories during any 90-day period, and mandates affected credit unions return all public deposits within 10 business days.

Authorizes the Chief Financial Officer to limit the amount of public deposits any single credit union may hold to protect the integrity of the public deposits program.

Establishes separate accounting in the Public Deposits Trust Fund for credit union-related proceeds, assessments, and penalties versus those from banks and savings associations.

Makes conforming amendments to Chapter 280 and multiple other statutes related to public deposits and qualified public depositories, with an effective date of July 1, 2019.