The hearing on SB 524 was opened by Chairperson Dietrich. Revisor Eileen Ma gave an overview of the bill. (Attachment 1)

State Treasurer Stephen Johnson spoke as a proponent of the bill. (Attachment 2) He explained that the bill is addresses a bill from last year regarding public pooled monies (2025) HB 2152 that was signed into law. As the Treasurer's Office worked with other stakeholder groups to implement the law, they encountered some technicalities to the bill that needed to be addressed including the assessment of fees. 

Jay Emler, Special Legal Counsel for the Office of the State Treasurer testified in favor of the bill. (Attachment 3) He shared that this bill addresses inconsistencies that were discovered in existing statutes and within the original bill itself. 

Sarah Lynch-Chaput of the Kansas Bankers Association advocated for the bill. (Attachment 4) She indicated that the intent of this bill is to unify the public money's statutes with a new collateral pool program. The bill allows the Treasurer's Office to charge a fee to cover necessary costs for banks that use the program but also request that an amendment be made to make sure the fee is set through the rules and regulations process.

Proponents stood for questions from the Committee members. Questions were also answered by J.W. Wells on behalf of the Kansas Bankers Association and Shauna Wake on behalf of the State Treasurer's Office.

The hearing on SB 524 was closed by Chairperson Dietrich.