Local government investment pool; limitations. (HB2583)

Introduced By

Del. Don Merricks (R-Danville) with support from 22 copatrons, whose average partisan position is:

Those copatrons are Del. Dave Albo (R-Springfield), Del. Kris Amundson (D-Mount Vernon), Del. Ward Armstrong (D-Martinsville), Del. Kathy Byron (R-Lynchburg), Del. Ben Cline (R-Amherst), Del. Mark Cole (R-Fredericksburg), Del. Kirk Cox (R-Colonial Heights), Del. Morgan Griffith (R-Salem), Del. Phil Hamilton (R-Newport News), Del. Clarke Hogan (R-South Boston), Del. Bill Howell (R-Fredericksburg), Del. Tim Hugo (R-Centreville), Del. Sal Iaquinto (R-Virginia Beach), Del. Riley Ingram (R-Hopewell), Del. Terry Kilgore (R-Gate City), Del. Danny Marshall (R-Danville), Del. Jimmie Massie (R-Richmond), Del. Sam Nixon (R-Richmond), Del. Dave Nutter (R-Christiansburg), Del. John O'Bannon (R-Richmond), Del. Charles Poindexter (R-Glade Hill), Del. Beverly Sherwood (R-Winchester)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Local government investment pool; limitations. Provides that no less than 10 percent of local government investment pool assets shall be invested in time, savings, or demand deposits at financial institutions qualified to accept public deposits under the Virginia Security for Public Deposits Act. Read the Bill »


Bill Has Passed


01/22/2009Presented and ordered printed 098465544
01/22/2009Referred to Committee on Appropriations
01/23/2009Assigned App. sub: Technology Oversight & Government Activities (Landes)
01/28/2009Impact statement from DPB (HB2583)
02/02/2009Impact statement from DPB (HB2583)
02/03/2009Subcommittee recommends reporting
02/04/2009Reported from Appropriations (17-Y 6-N) (see vote tally)
02/06/2009Read first time
02/08/2009Passed by for the day
02/09/2009Read second time and engrossed
02/10/2009Read third time and passed House (91-Y 3-N 4-A)
02/10/2009VOTE: --- PASSAGE (91-Y 3-N 4-A) (see vote tally)
02/11/2009Constitutional reading dispensed
02/11/2009Referred to Committee on Finance
02/18/2009Reported from Finance with amendment (16-Y 0-N) (see vote tally)
02/19/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/20/2009Read third time
02/20/2009Reading of amendment waived
02/20/2009Committee amendment agreed to
02/20/2009Engrossed by Senate as amended
02/20/2009Passed Senate with amendment (38-Y 1-N) (see vote tally)
02/23/2009Placed on Calendar
02/24/2009Senate amendment agreed to by House (99-Y 0-N)
02/24/2009VOTE: --- ADOPTION (99-Y 0-N) (see vote tally)
02/28/2009Bill text as passed House and Senate (HB2583ER)
02/28/2009Signed by Speaker
02/28/2009Signed by President
03/12/2009Impact statement from DPB (HB2583ER)
03/30/2009G Approved by Governor-Chapter 654 (effective - see bill)
03/30/2009G Acts of Assembly Chapter text (CHAP0654)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 1 minute.