March 8, 2024
Senate Approves MOBUCK$ Bill, Sends Measure To House
The Missouri Senate gave final approval to Senate Bill 736 and sent it to the House on Thursday. Sponsored by Sen. Sandy Crawford, R-Buffalo, the bill would increase the amount the state treasurer may invest in the MOBUCK$ program from $800 million to $1.2 billion. The House companion bill, House Bill 1803 sponsored by Rep. Terry Thompson, R-Lexington, has crossed over to the Senate and is expected to be heard in the Senate Insurance & Banking Committee next week. Through MOBUCK$, the state treasurer may invest state dollars in Missouri banks to provide loans at reduced rates to small businesses and agricultural producers, among other types of loans. More information about the program can be found on the state treasurer’s website.
MBA Testifies At Hearing On R-PACE Measure
This week, several MBA-supported bills were heard in House committees. House Bill 2756 would terminate Missouri’s residential Property Assessed Clean Energy (R-PACE) program. MBA testified in support of the bill. The banking industry was instrumental in passing 2021 legislation that requires consumer protections for R-PACE borrowers and examination of R-PACE lenders by the Missouri Division of Finance. This bill, sponsored by Rep. Michael O’Donnell, R-St. Louis, would prevent any future R-PACE loans originations. It does not affect Missouri’s commercial PACE program. It is expected to be voted on next week in the House Local Government Committee.
Committee To Vote On UCC Updates Legislation
House Bill 2780, sponsored by Rep. Justin Hicks, R-Lake St. Louis, would implement 2022 updates to the Uniform Commercial Code and would prohibit the use of central bank digital currency in Missouri. The bill is supported by MBA and the Federal Home Loan Bank of Des Moines. The House Special Committee on Public Policy is scheduled to vote on the bill next week.
Lawmakers Approve Bills To Ban Moratoriums On Eviction Proceedings
In landlord-tenant news, a bill to ban moratoriums on eviction proceedings by local governments was approved by the House and sent to the Senate. House Bill 2062, sponsored by Rep. Chris Brown, R-Kansas City, was motivated by some Missouri cities banning eviction proceedings well beyond the height of the COVID-19 pandemic. A similar bill sponsored by Sen. Curtis Trent, R-Greene County, Senate Bill 895, received Senate approval and now goes to the House for consideration. House Bill 2385, sponsored by Rep. Ben Keathley, R-Chesterfield, also was given final approval by the House and moves on to the Senate. The bill would prohibit local governments from requiring landlords to rent to Section 8 voucher recipients. An amendment was added to the bill that would prohibit local governments from enacting an ordinance to prevent landlords from using a criminal record or a credit report when vetting a prospective tenant.