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Committee approves amendment letting counties seek contiguous-county banks before going statewide, SB 289 moves 7–1
Summary
Senate Bill 289 was amended to let counties solicit depository quotes from financial institutions within their county or contiguous counties in Indiana before going statewide; the committee adopted the amendment and advanced the bill 7–1 after members discussed impacts on small local banks and taxpayer interest.
The committee adopted an amendment to Senate Bill 289 that permits counties to solicit quotes from financial institutions located within their county or in a contiguous Indiana county before expanding solicitations statewide.
Chairman Baldwin said the amendment aims to balance taxpayer interests in securing competitive rates with concerns about preserving…
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