Revision: June 5, 2024, 9:18 a.m.
June 5, 2024
2024-2248-CofC
06/05
Committee of Conference Report on HB 1241, relative to the regulation of money transmitters and relative to license applications and renewals for certain consumer credit entities.
Recommendation:
That the House recede from its position of nonconcurrence with the Senate amendment, and concur with the Senate amendment, and
That the Senate and House adopt the following new amendment to the bill as amended by the Senate, and pass the bill as so amended:
Amend the bill by deleting section 6 and renumbering the original sections 7-11 to read as 6-10, respectively.
Amend RSA 6:45, II-a as inserted by section 7 of the bill by replacing it with the following:
II-a. The investment advisor selected by the state treasurer and advisory committee shall strive to place funds ordinarily held by the public deposit investment pool in bank deposits with state or federally chartered banks that are eligible to accept deposits of public funds under RSA 6:8, I and 6:8, I-a.
Amend the bill by replacing section 10 with the following:
I. Sections 1 through 5 of this act shall take effect 60 days after its passage.
II. Section 9 of this act shall take effect December 30, 2030.
III. The remainder of this act shall take effect upon its passage.
The signatures below attest to the authenticity of this Report on HB 1241, relative to the regulation of money transmitters and relative to license applications and renewals for certain consumer credit entities.
Conferees on the Part of the Senate Conferees on the Part of the House
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Sen. Gannon, Dist. 23 Rep. Hunt, Ches. 14
_________________________________________ _______________________________________
Sen. Bradley, Dist. 3 Rep. Burroughs, Carr. 2
_________________________________________ _______________________________________
Sen. Rosenwald, Dist. 13 Rep. Ammon, Hills. 42
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Rep. McAleer, Carr. 2
2024-2248-CofC
This bill:
I. Adopts the model money transmission modernization act.
II. Adjusts renewal procedures for certain consumer credit entities to align with those in the model money transmission.
III. Encourages the investment advisor for the public deposit investment pool to place funds ordinarily held by the public deposit investment pool in bank deposits with eligible state or federally chartered banks.