February 23, 2024
House Passes Bill Increasing MOBUCK$ Cap
MBA-priority legislation to increase the cap on the state’s MOBUCK$ program took a major step forward this week. By a 138-10 vote, representatives approved House Bill 1803 and sent it to the Senate. The bill is expected to be referred to the Senate Insurance and Banking Committee next week. MBA thanks Rep. Terry Thompson, R-Lexington, for ushering the legislation through the House process. Sen. Sandy Crawford, R-Buffalo, will handle the bill in the Senate.
House Committee Unanimously Approves Omnibus Measures
The House Financial Institutions Committee created two omnibus bills this week and voted them out unanimously. This includes the following.
- House Bill 1725 — The original bill modifies provisions relating to green bonds. Amendments include provisions relating to municipal bonds (House Bill 1726) and the Missouri Uniform Fiduciary Income and Principal Act (House Bill 1987).
- House Bill 2087 — The original bill modifies payments to health care providers. One of the amendments includes MBA-supported language to allow the cost of a credit report on consumer loans to be passed to consumers (House Bill 2086). Other amendments address the following.
Bill Updating UCC Referred to House Committee
Rep. Justin Hicks, R-Lake St. Louis, filed the 2022 amendments to the Uniform Commercial Code this week. House Bill 2780 has already been referred to the Special Committee on Public Policy and will likely receive a hearing in the coming weeks. This bill is similar to the version filed last year but does include language to prohibit the use of a “central bank digital currency” by a public entity. This provision was added after opposition to last year’s bill.
Senate Approves First Bill of Session
The Senate approved a Republican priority this week. Senate Joint Resolution 74 increases the vote threshold required to place an initiative petition on the ballot. This was the first bill the Senate approved this session.