CS/SB 1246 (2022) -  Benchmark Replacements for the London Interbank Offered Rate

General Bill by Commerce and Tourism and Gruters
Benchmark Replacements for the London Interbank Offered Rate: Requiring that recommended benchmark replacements selected or recommended by specified persons be benchmark replacements on the United States dollar London Interbank Offered Rate (LIBOR) replacement date for certain contracts, securities, and instruments; authorizing specified persons to select benchmark replacements under certain circumstances; requiring benchmark replacement conforming changes to become an integral part of contracts, securities, and instruments under certain circumstances; providing that a person is not liable for damages and is not subject to claims and requests for equitable relief under certain circumstances, etc.
Effective Date: Upon becoming a law
Last Event: 03/02/22 S Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506 on Wednesday, March 2, 2022 1:03 PM

Referred Committees and Committee Actions

Senate Referrals

  • Banking and Insurance
    • On agenda for: 02/02/22 8:30 AM
    • Favorable (final action) Votes: Yeas 11   Nays 0
  • Commerce and Tourism
    • On agenda for: 02/07/22 2:30 PM
    • Favorable With Committee Substitute (final action) Votes: Yeas 9   Nays 0
  • Rules
    • On agenda for: 02/15/22 10:00 AM
    • Favorable (final action) Votes: Yeas 17   Nays 0

Related Bills

Bill # Subject Relationship
Bill #: CS/HB 925 Subject: Benchmark Replacements for London Interbank Offered Rate Relationship: Identical
Bill #: HB 639 Subject: Benchmark Replacements for London Interbank Offered Rate Relationship: Compare

Bill Text

Staff Analysis

Chamber Committee
Chamber: Senate Committee: Rules 2/16/2022 10:06:17 AM
Chamber: Senate Committee: Rules 2/14/2022 9:37:16 AM
Chamber: Senate Committee: Commerce and Tourism 2/8/2022 11:17:31 AM
Chamber: Senate Committee: Commerce and Tourism 2/4/2022 2:23:58 PM
Chamber: Senate Committee: Banking and Insurance 2/2/2022 2:51:50 PM
Chamber: Senate Committee: Banking and Insurance 2/1/2022 8:35:22 AM

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: S Laid on Table, companion bill(s) passed, see CS/HB 925 (Ch. 2022-57) -SJ 506 Time: 03/02/2022 - 1:03 PM Member: Committee: Version: c1
Event: S Substituted CS/HB 925 -SJ 506 Time: 03/02/2022 - 1:03 PM Member: Committee: Version: c1
Event: S Read 2nd time -SJ 505 Time: 03/02/2022 - 1:02 PM Member: Committee: Version: c1
Event: S Placed on Special Order Calendar, 03/02/22 -SJ 521 Time: 02/28/2022 - 7:39 PM Member: Committee: Version: c1
Event: S Retained on Calendar Time: 02/23/2022 - 6:12 PM Member: Committee: Version: c1
Event: S Placed on Special Order Calendar, 02/23/22 -SJ 451 Time: 02/17/2022 - 3:49 PM Member: Committee: Version: c1
Event: S Placed on Calendar, on 2nd reading Time: 02/16/2022 - 10:33 AM Member: Committee: Rules Version: c1
Event: S Favorable by- Rules; YEAS 17 NAYS 0 -SJ 370 Time: 02/15/2022 - 3:26 PM Member: Committee: Rules Version: c1
Event: S On Committee agenda-- Rules, 02/15/22, 10:00 am, 412 Knott Building Time: 02/11/2022 - 10:52 AM Member: Committee: Rules Version: c1
Event: S Now in Rules Time: 02/11/2022 - 8:40 AM Member: Committee: Rules Version: c1
Event: S CS by Commerce and Tourism read 1st time -SJ 350 Time: 02/09/2022 - 4:27 PM Member: Committee: Commerce and Tourism Version: c1
Event: S Pending reference review under Rule 4.7(2) - (Committee Substitute) Time: 02/08/2022 - 11:32 AM Member: Committee: Commerce and Tourism Version: c1
Event: S CS by Commerce and Tourism; YEAS 9 NAYS 0 -SJ 344 Time: 02/07/2022 - 4:33 PM Member: Committee: Commerce and Tourism Version: __
Event: S On Committee agenda-- Commerce and Tourism, 02/07/22, 2:30 pm, 110 Senate Building Time: 02/02/2022 - 2:39 PM Member: Committee: Commerce and Tourism Version: __
Event: S Now in Commerce and Tourism Time: 02/02/2022 - 2:38 PM Member: Committee: Commerce and Tourism Version: __
Event: S Favorable by Banking and Insurance; YEAS 11 NAYS 0 -SJ 242 Time: 02/02/2022 - 11:34 AM Member: Committee: Banking and Insurance Version: __
Event: S On Committee agenda-- Banking and Insurance, 02/02/22, 8:30 am, 412 Knott Building Time: 01/28/2022 - 2:20 PM Member: Committee: Banking and Insurance Version: __
Event: S Introduced -SJ 83 Time: 01/11/2022 - 11:01 AM Member: Committee: Version: __
Event: S Referred to Banking and Insurance; Commerce and Tourism; Rules -SJ 83 Time: 01/05/2022 - 12:10 PM Member: Committee: Banking and Insurance Version: __
Event: S Filed Time: 12/14/2021 - 8:13 AM Member: Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
687.15 CS/HB 925