AN ACT ESTABLISHING A WORKING GROUP TO EVALUATE PAYROLL PROCESSING METHODS EMPLOYED BY FINANCIAL INSTITUTIONS.

HB 5213 establishes a working group to evaluate how financial institutions process paychecks and the time required for payroll checks to clear. The group, including banking committee members, the Banking Commissioner, and representatives from banks and credit unions, must submit findings by January 1, 2027. This bill creates a study process but does not change current payroll processing rules or impose new requirements on financial institutions.