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BILLS TO WATCH
SB 5 – Consumer Data Protection
Sen. Liz Brown (R-Allen County)
What you need to know
The bill establishes consumer data protection laws in Indiana. Currently, the bill exempts institutions regulated under the Gramm-Leach-Bliley Act (GLBA) data protection standards. Sen. Brown worked with the IMBA to ensure the industry's concerns regarding data protection were included in this bill by adding the GLBA exemption.
Latest action
The bill passed the Senate and was referred to the House for further consideration. The bill was heard in the House Judiciary Committee on March 15.
Learn more about SB 5
SB 35 – Financial Literacy
Sen. Mike Gaskill (R-Hamilton & Madison counties)
HB 1281 – Financial Literacy
Rep. David Hall (R-Brown, Jackson & Monroe counties)
What you need to know
The IMBA is in SUPPORT of these two bills. The bills require that beginning in 2027 for HB 1281 and 2028 for SB 35, each student attending a state-accredited high school must take and complete a course on financial literacy to graduate.
Latest action
Both bills have passed their chamber of origin and been referred to the other chamber for further consideration.
Learn more about SB 35
Learn more about HB 1281
SB 156 – Financial Literacy
Sen. Rick Niemeyer (R-Benton, Newton, Jasper & Lake counties)
What you need to know
The bill prevents the person who acquires a certificate of sale from transferring the certificate to someone who is not eligible under the tax sale laws to bid at a tax sale. The IMBA is monitoring this bill as it moves through the process.
Latest action
The bill passed the Senate and just passed out of the House Judiciary Committee March 15. It now heads to the full House for consideration.
Learn more about SB 156
SB 287 – Various Probate and Trust Matters
Sen. Aaron Freeman (R- Marion & Johnson counties)
What you need to know
The bill makes various changes to Indiana’s trust and probate sections of code. Most of these changes originate from the Interim Probate Summer Study Commission. The IMBA has reviewed the proposed changes and does not have any concerns with direction of the legislation.
Latest action
The bill passed the Senate and just passed out of the House Judiciary Committee March 15. It now heads to the full House for consideration.
Learn more about SB 287
SB 468 – Uniform Commercial Code Amendments
Sen. Chris Garten (R- Clark & Floyd counties)
What you need to know
The bill updates the Indiana Uniform Commercial Code with language drafted by the Uniform Law Commission related to “Emerging Technologies”. Emerging Technologies is in reference to virtual currency and other digital type assets. The IMBA is reviewing the bill but doesn’t have any concerns with the approach to the legislation.
Latest action
The bill was referred to the House Financial Institutions Committee upon passing the Senate.
Learn more about SB 468
SB 477 – Threats To Critical Infrastructure
Sen. Justin Busch (R-Allen & Whitley counties)
What you need to know
The IMBA is monitoring this bill and working with the authors on clarification language. The bill prohibits a person from selling or leasing property adjacent to a military installation to someone from, or a business associated with China, Iran, North Korea, Russia, or a country designated as a threat later. The language will create a formal divestment procedure through a government body, a similar process to SEA 388 from 2022 which prohibited Chinese nationals from owning land.
Latest action
The bill passed out of the House Committee on Veteran Affairs and Public Safety on March 13.
Learn more about SB 477
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