House Sponsors: BIGGINS-BUGIELSKI. Senate Sponsors: MAITLAND Short description: PUBLIC DEPOSITS INSURANCE ACT Synopsis of Bill as introduced: Creates the Public Deposits Insurance Act. Creates the Board for Depositories to insure the safekeeping and prompt payment of all public funds deposited in any depository to the extent they are not covered by insurance of any federal deposit insurance agency, by maintaining and operating in its own name the Public Deposits Insurance Fund, which is created outside of the State treasury. Provides the powers, duties, and membership of the Board. Provides for deposits into the Fund by each depository in which public funds are held. Provides for payments out of the Fund when a depository closes. HOUSE AMENDMENT NO. 1. Deletes everything. Creates the Public Deposits Insurance Act. Creates the Board for Depositories to insure the safekeeping and prompt payment of public funds deposited in any depository to the extent they are not covered by insurance of any federal deposit insurance agency, by maintaining and operating in its own name the Public Deposits Insurance Fund, which is created outside of the State treasury. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status