SB 109-1_ Filed 01/18/2012, 11:38

COMMITTEE REPORT




MADAM PRESIDENT:

    The Senate Committee on Tax and Fiscal Policy, to which was referred Senate Bill No. 109, has had the same under consideration and begs leave to report the same back to the Senate with the recommendation that said bill be AMENDED as follows:

SOURCE: Page 1, line 1; (12)AM010901.1. -->     Page 1, between the enacting clause and line 1, begin a new paragraph and insert:
SOURCE: IC 5-13-4-7; (12)AM010901.1. -->     "SECTION 1. IC 5-13-4-7 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2012]: Sec. 7. Except as provided as provided in IC 5-13-9-5.3, "deposit accounts" means any of the following:
        (1) Any account subject to withdrawal by negotiable orders of withdrawal, unlimited as to amount or number, and without penalty, including NOW accounts.
        (2) Passbook savings accounts.
        (3) Certificates of deposit.
        (4) Money market deposit accounts.
        (5) Any interest bearing account that is authorized to be set up and offered by a financial institution in the course of its respective business.".
SOURCE: Page 1, line 3; (12)AM010901.1. -->     Page 1, line 3, after "(a)" insert " For purposes of this section, "deposit account" does not include a deposit account described in IC 5-13-4-7(5).
    (b)
".
    Page 1, line 10, delete "deposits" and insert " deposit accounts".
    Page 1, line 14, delete "deposits" and insert " deposit accounts".
    Page 2, line 14, strike "(b)" and insert " (c)".
    Page 2, line 14, strike "(a)" and insert " (b)".
    Renumber all SECTIONS consecutively.
    (Reference is to SB 109 as introduced.)

and when so amended that said bill do pass .

Committee Vote: Yeas 7, Nays 0.

____________________________________

Senator Hershman, Chairperson


AM 010901/DI 73    2012