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Senate advances a slate of technical and industry bills to third reading
Summary
On voice votes and brief floor presentations the Senate advanced several technical and industry bills, including amendments to the Limited Liability Company Act (SB64) and depository institution rules (SB90); SB106 was circled pending substitute printing.
The Senate moved a set of largely technical and industry bills forward. Senator Taylor described SB64 as mostly technical amendments to the Limited Liability Company Act, including a narrowly tailored provision allowing a member to waive limited'liability protection for tax classification purposes to satisfy IRS requirements; the Senate recorded 26 ayes, 0 nays and 3 absent and passed the bill to third reading.
Senator Watson described SB90 as a compilation of regulatory changes proposed by banks, credit unions, loan companies and savings associations, including modest changes to credit'union operations, dividend declaration rules and mortgage reserves; the committee recommended amendments and the bill passed the floor advancement vote with 25 ayes, 0 nays and 4 absent.
Senators also circled (deferred) SB106 (sales tax on fundraisers) while staff confirmed substitute and fiscal paperwork. These measures were advanced largely on committee recommendation and voice votes with minimal floor debate.
