House District No. 5 Rep. Shelly Duncan provides another legislative update.
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CHEYENNE - House District No. 5 Rep. Shelly Duncan provides a legislative update on Friday, Jan. 18:
"
# of House Bills: 214
Total # of Active House Bills: 210
# of Senate Bills: 131
Total # of Bills: 345
Minerals Committee:
Passed
HB26 Limited Mining Operations Amendments
HB32 EQC Amendments
HB111 EQC voting amendments
HB74 Special purpose depository banks- Lively debate over 2 weeks and a compromise was reached that language changed to “Special Purpose Depository Institution” and remove the word “Bank” throughout the bill. The committee is also working on trying to change the title of the bill to reflect those same changes. This was requested as to protect the consumers and public as to not confuse and protect the reputation of “Banks” from these new depository institutions not requiring FDIC Insurance. (These are set up to allow Block Chain and Fire arms type entities currently being denied banking due to FDIC restraints). It’s primarily an economic development option.
Last night I attended the TRW committee and testified on the HB15 as a co-sponsor. This passed committee 6-3. I had previously spoken to our County Clerk, she had reservations but after reviews and discussions about neighboring states and their current requirements we could comply. We will continue to monitor any suggested amendments that may be presented to the floor. The concerns expressed by the committee voting against the bill were due to those in dealerships. Those concerns could be alleviated by a policy of still requiring a notary even though the title doesn’t require. This would be a business model. I’ll keep you posted on this issue."
