| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | - | LCO 4113 1 of 2 | |
| 3 | + | LCO No. 4113 1 of 2 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Raised Bill No. 1255 | |
| 6 | 6 | January Session, 2025 | |
| 7 | 7 | LCO No. 4113 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on BANKING | |
| 11 | 11 | ||
| 12 | 12 | ||
| 13 | 13 | Introduced by: | |
| 14 | 14 | (BA) | |
| 15 | + | ||
| 15 | 16 | ||
| 16 | 17 | ||
| 17 | 18 | ||
| 18 | 19 | AN ACT CONCERNING THE COMMUNITY BANK AND COMMUNITY | |
| 19 | 20 | CREDIT UNION INVESTMENT PROGRAM ESTABLISHED BY THE | |
| 20 | 21 | STATE TREASURER. | |
| 21 | 22 | Be it enacted by the Senate and House of Representatives in General | |
| 22 | 23 | Assembly convened: | |
| 23 | 24 | ||
| 24 | 25 | Section 1. Section 3-24j of the general statutes is repealed and the 1 | |
| 25 | 26 | following is substituted in lieu thereof (Effective July 1, 2025): 2 | |
| 26 | 27 | As used in this section and sections 3-24k and 3-24l: 3 | |
| 27 | 28 | (1) "Community bank" means a bank [and trust company, savings 4 | |
| 28 | 29 | bank or savings and loan association chartered or organized under the 5 | |
| 29 | 30 | laws of this state] or out-of-state bank, as those terms are defined in 6 | |
| 30 | 31 | section 36a-2; and 7 | |
| 31 | 32 | (2) "Community credit union" means a [cooperative, nonprofit 8 | |
| 32 | 33 | financial institution that (A) is organized under chapter 667 and the 9 | |
| 33 | 34 | membership of which is limited as provided in section 36a-438a, (B) 10 | |
| 34 | 35 | operates for the benefit and general welfare of its members with the 11 | |
| 35 | 36 | earnings, benefits or services offered being distributed to or retained for 12 | |
| 36 | - | its members, and (C) is governed by a volunteer board of directors 13 Raised Bill No. 1255 | |
| 37 | + | its members, and (C) is governed by a volunteer board of directors 13 | |
| 38 | + | Raised Bill No. 1255 | |
| 37 | 39 | ||
| 38 | 40 | ||
| 39 | - | LCO 4113 2 of 2 | |
| 41 | + | ||
| 42 | + | LCO No. 4113 2 of 2 | |
| 40 | 43 | ||
| 41 | 44 | elected by and from its membership] Connecticut credit union or federal 14 | |
| 42 | 45 | credit union, as those terms are defined in section 36a-2. 15 | |
| 43 | 46 | This act shall take effect as follows and shall amend the following | |
| 44 | 47 | sections: | |
| 45 | 48 | ||
| 46 | 49 | Section 1 July 1, 2025 3-24j | |
| 47 | 50 | ||
| 48 | - | BA Joint Favorable | |
| 51 | + | Statement of Purpose: | |
| 52 | + | To redefine "community bank" and "community credit union" for | |
| 53 | + | purposes of the community bank and community credit union | |
| 54 | + | investment program established by the State Treasurer. | |
| 55 | + | ||
| 56 | + | [Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except | |
| 57 | + | that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not | |
| 58 | + | underlined.] | |
| 49 | 59 |