Connecticut HB 5213: AN ACT ESTABLISHING A WORKING GROUP TO EVALUATE PAYROLL PROCESSING METHODS EMPLOYED BY FINANCIAL INSTITUTIONS.

Bill Text

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General Assembly Raised Bill No. 5213
February Session, 2026 LCO No. 1612

Referred to Committee on BANKING

Introduced by:
(BA)

AN ACT ESTABLISHING A WORKING GROUP TO EVALUATE
PAYROLL PROCESSING METHODS EMPLOYED BY FINANCIAL
INSTITUTIONS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (Effective from passage) (a) The chairpersons of the joint 1
standing committee of the General Assembly having cognizance of 2
matters relating to banking shall convene a working group to study 3
payroll processing methods employed by financial institutions and the 4
time required for payroll checks to clear. 5
(b) The working group shall include, but need not be limited to, the 6
following members: 7
(1) The chairpersons and ranking members of the joint standing 8
committee of the General Assembly having cognizance of matters 9
relating to banking, or their designees; 10
(2) The Banking Commissioner, or the commissioner's designee; 11
(3) One representative of a bank; and 12

Raised Bill No. 5213

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(4) One representative of a credit union. 13
(c) The chairpersons of the joint standing committee of the General 14
Assembly having cognizance of matters relating to banking shall (1) 15
make all appointments to the working group, and (2) schedule the first 16
meeting of the working group, which shall be held not later than sixty 17
days after the effective date of this section. 18
(d) The members of the working group shall select two 19
cochairpersons from among the members of the working group. 20
(e) The administrative staff of the joint standing committee of the 21
General Assembly having cognizance of matters relating to banking 22
shall serve as administrative staff of the working group. 23
(f) Not later than January 1, 2027, the working group shall submit a 24
report on its findings and recommendations to the joint standing 25
committee of the General Assembly having cognizance of matters 26
relating to banking, in accordance with the provisions of section 11-4a 27
of the general statutes. The working group shall terminate on the date 28
that it submits such report or January 1, 2027, whichever is later. 29
This act shall take effect as follows and shall amend the following
sections:

Section 1 from passage New section

BA Joint Favorable