Benchmark Replacements for London Interbank Offered Rate
Summary
Benchmark Replacements for London Interbank Offered Rate; Requires recommended benchmark replacements selected or recommended by specified persons be benchmark replacements on United States dollar London Interbank Offered Rate (LIBOR) replacement date for contracts, securities, & instruments; requires fallback provisions in contracts, securities, & instruments providing specified benchmark replacements be disregarded & void; authorizes specified persons to select benchmark replacements; requires benchmark replacement conforming changes to become integral part of contracts, securities, & instruments; provides person is not liable for damages & is not subject to claims & requests for equitable relief under certain circumstances.
Bill status
signed
all 5 stages cleared
Introduction
Jan 2022
Committee Review
Feb 2022
House Passage
Feb 2022
Senate Passage
Mar 2022
Signed into Law
Apr 2022
Introduced Jan 14, 2022
Signed Apr 6, 2022
Floor votes · Senate Mar 2, 2022 · House Feb 24, 2022
How they voted
36–0
Passed · 1 other
Total votes 37
Mar 2, 2022
D
Democratic14
92% Yea
R
Republican23
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
45
Key actions
15
Committee
18
Apr 6, 2022
Signed into law
Approved by Governor
legislature
Mar 2, 2022
Upper · Passed
CS passed; YEAS 38 NAYS 0
upper
Feb 24, 2022
Committee
Referred to Rules
upper
Feb 24, 2022
Lower · Passed
CS passed; YEAS 114, NAYS 0
lower
Feb 1, 2022
Lower · Passed
Reported out of Commerce Committee
lower
Feb 1, 2022
Lower · Passed
Favorable by Commerce Committee
lower
Jan 28, 2022
Lower · Passed
Added to Commerce Committee agenda
lower
Jan 27, 2022
Lower · Passed
Now in Commerce Committee
lower
Jan 27, 2022
Lower · Passed
Reported out of Civil Justice & Property Rights Subcommittee
lower
Jan 27, 2022
Lower · Passed
Favorable by Civil Justice & Property Rights Subcommittee
lower
Jan 25, 2022
Lower · Passed
Added to Civil Justice & Property Rights Subcommittee agenda
lower
Jan 18, 2022
Lower · Passed
Now in Civil Justice & Property Rights Subcommittee
lower
Jan 18, 2022
Committee
Referred to Commerce Committee
lower
Jan 18, 2022
Committee
Referred to Civil Justice & Property Rights Subcommittee
lower
Jan 14, 2022
Introduced
CS Filed
lower
Jan 14, 2022
Lower · Passed
Reported out of Insurance & Banking Subcommittee
lower
Jan 13, 2022
Lower · Passed
Favorable with CS by Insurance & Banking Subcommittee
lower
Jan 11, 2022
Lower · Passed
Added to Insurance & Banking Subcommittee agenda
lower
Jan 3, 2022
Lower · Passed
Now in Insurance & Banking Subcommittee
lower
Jan 3, 2022
Committee
Referred to Commerce Committee
lower
Jan 3, 2022
Committee
Referred to Civil Justice & Property Rights Subcommittee
lower
Jan 3, 2022
Committee
Referred to Insurance & Banking Subcommittee
lower
1 primary · 1 co-sponsor
Sponsors
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