House Status:
Senate Status:
Senate Status:
Minutes for HB2152 - Committee on Financial Institutions and Pensions
Short Title
Authorizing financial institutions to secure governmental unit deposits in excess of the amount insured or guaranteed by the FDIC by utilizing a public moneys pooled method of securities, prohibiting investment advisers that execute bids for the investment of public moneys from managing moneys directly from such bid, allowing municipal bond proceeds and governmental unit deposits to be invested at a rate agreed upon by the governmental unit and the financial institution, establishing certain public moneys investment rates, requiring certification from a governmental unit that deposits in the municipal investment pool fund were first offered to a financial institution in the preceding year and allowing financial institutions to file complaints upon the failure to comply with such certification.
Minutes Content for Mon, Feb 3, 2025
Chair Hoheisel opened the hearing on HB 2152 and recognized David Wiese, Senior Revisor of Statutes who provided an overview, (Attachment1).
Informational - Chair Hoheisel recognized Dr. Emily Breit, Ph.D., Policy Fellow, Docking Institute of Public Affairs, Fort Hays State University who provided information on a report titled - How Public Funds Investment Policy Impacts the Kansas Economy: An Analysis and Adaptation of Previous Research, (Attachment2) (Attachment3) to assist in education on HB 2152; followed by Steven Johnson, State Treasurer, (Attachment4). A short question and answer period followed.
Proponents - Chair Hoheisel recognized the following individuals who spoke in support of HB 2152: Doug Wareham, President and CEO, Kansas Bankers Association, (Attachment5); Shawn Mitchell, President and CEO, Community Bankers Association of Kansas, (Attachment6); Alex Orel, Senior Vice President Government Relations, Kansas Bankers Association, (Attachment7); Tom Pruitt, President and CEO (retired), Peoples Bank & Trust, McPherson, (Attachment8); Mark Schifferdecker, Chairman, President and CEO GNBank, Girard, (Attachment9).
Proponents Written Only - Brock Roehler, General Counsel, Office of the State Bank Commissioner, (Attachment10); Eric Stafford, Vice President of Government Affairs, The Kansas Chamber, (Attachment11); and Scott Schneider, Executive Director, Kansas Business Roundtable, (Attachment12).
Neutral - none
Opponents - Chair Hoheisel recognized the following individuals who spoke in opposition of HB 2152: Nathan Eberline, Executive Director, The League of Kansas Municipalities, (Attachment13); Jamie Robichaud, Director of Economy, City of Olathe, (Attachment14); Jeff White, Managing Member, Columbia Capital Management, Merriam, (Attachment15); Michael Ashcraft, Commissioner, Johnson County Board of County Commissioners, (Attachment16); Amanda Stanley, City Attorney, City of Topeka, (Attachment17); Jason Hannaman, Finance Director, City of Prairie Village and Northeast Johnson County Cities, (Attachment18); Jay Hall, Deputy Director and General Counsel, Kansas Association of Counties, (Attachment19); Don Cawby, Finance Director, City of Leawood, (Attachment20).
Opponents Written Only - Taggart Wall, City Manager, City of Winfield, (Attachment21); Kim Rupp, Director of Finance, City of Hays, (Attachment22); Tiffany Ellison, Citizen, Miami County, (Attachment23); Beth Linn, City Administrator, Edgerton, (Attachment24); Michael Koss, City Attorney, City of Overland Park, (Attachment25); Randy Frazer, City Manager, City of Arkansas City, (Attachment26); Richard Mikesic, Finance Director, Local Government, (Attachment27); Kiel Mangus, City Manager, City of Derby, (Attachment28); Tami L. Robison, Finance Director, Geary County, (Attachment29); Tricia Giordano, Geary County Commissioner, District 1, Office of County Commissioners, (Attachment30); and Cyndra Kastens, City Administrator, The City of Anthony, (Attachment31).
Chair Hoheisel announced that today's hearing on HB 2152 to be "paused", remain open until a future date, to be determined, and conferees can return to the committee and respond to an adequate question and answer period.
The next House Financial Institutions and Pensions committee is scheduled for Wednesday, February 5, 2025.
Chair Hoheisel adjourned the meeting at 11:00am.
