Financial institution discrimination.25LSO-0324, 1.0
HB0291
FISCAL NOTE
The fiscal impact is indeterminable.
The fiscal impact of this legislation would depend upon whether, in the future, the
custodial and depository bank with which the State Treasurer’s Office (STO)
currently maintains contracts adopted policies in violation of the legislation.
The STO would face significant impacts if the custodial bank or depository bank
implemented a discriminatory policy against an energy company. Under this
legislation, this would require the STO to find a new bank for those services at
the end of the contract term. In finding a new bank, the STO would need to complete
the RFP process, rewrite and potentially negotiate every manager contract, and
modify our existing computer operating systems used for accounting and investing.
These efforts would generate substantial expenditures.
Prepared by: Matt Sackett, LSO Contractor Phone: 777-7881
(Information provided by Samantha Dailey, State Treasurer's Office, 307-777-7408;
Kristi Racines, State Auditor's Office, 307-777-7831; Jesse Naiman, Secretary of
State's Office, 307-777-5873)