68 NOVEMBER / DECEMBER 2022 Summer Study Committees IBA puts Indiana bankers’ voices front and center GR SUMMIT Dax Denton 'LMIJ 4SPMG] 3JƤGIV Indiana Bankers Association ddenton@indiana.bank Ross Teare Vice President - Government Relations Indiana Bankers Association rteare@indiana.bank The fall season brings to an end the annual interim legislative study committee process that begins each summer. This year, committees got a late start due to the Special Session in July. The interim study committee process is critical for issues that the legislature might consider in the upcoming session. By assigning topics to interim study committees, the legislature gets a head start on considering potential changes in law in order to be better prepared to tackle important issues when session reconvenes in January. There are dozens of interim study committees that could be charged with discussing a variety of topics each year. Through the course of summer and early fall meetings, the committees identify changes to the law they deem appropriate through committee deliberations. Each committee that convenes may choose to put forth a recommendation to the Indiana General Assembly suggesting specific policy changes to be considered during the legislative session. A recommendation is generated only if a majority of the members of the interim committee vote to approve it. This past summer, the IBA government relations team kept busy tracking topics important to the banking industry. In September, the Interim Study Committee on Public Health, Behavioral Health, and Human Services met to broadly discuss marijuana and its derivative products. During that committee, the IBA testified to the challenges financial institutions have with banking marijuana-related businesses. The IBA highlighted the need for congressional action to address the regulatory risk concerns banks have in managing these transactions. The IBA also testified before the Administrative Rules Review Task Force. This interim committee has been charged with reviewing the process and procedures for state agency rulemaking, including emergency rulemaking authority. While the IBA does not have a position on emergency rulemaking authority for state agencies, we do want to ensure there are no unintended consequences to banks if the Department of Financial Institutions’ emergency rulemaking authority changes. Currently, both consumer credit fees are indexed through emergency rules as well as the mortgage licensee system required by the SAFE Act. Finally, the IBA had the opportunity to present in front of the newly created State Housing Task Force. The group was formed to study ways to grow Indiana’s inventory of workforce and affordable housing. The IBA provided a state of the industry, highlighted the impact rising interest rates will have on homebuyers, recent regulatory changes and the abundance of financing options. The 2022 season of legislative interim study committees, while condensed in time, has been a very busy one. Thirty-two topics were assigned to the various interim committees for discussion and possible recommendation for further legislative action. With adopted proposals from interim committees often being the blueprint for policy for the coming legislative session, it is important that we engage in discussion topics that impact banking. Due to several proposals notable to the industry being brought forward by various committees, the IBA was active throughout late summer and early fall as discussions progressed through this process. HB
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