# Indiana HB 1523: Public depositories.

Indiana HB 1523, Public depositories., is a First Regular Session 124th General Assembly (2025) House bill sponsored by Kyle Pierce (Republican); status failed, last action 2025-04-10 (Committee report: do pass, adopted) (as of 2026-10-17).

- Canonical: https://policyrisk.com/state-bill/IN-HB1523-2025
- As of: 2026-10-17
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Indiana HB 1523
- State: Indiana
- Session: First Regular Session 124th General Assembly (2025)
- Title: Public depositories.
- Status: failed
- Chamber: House
- Introduced: 2025-01-21
- Last action: 2025-04-10, Committee report: do pass, adopted
- Sponsor: Kyle Pierce (Republican)
- Cosponsors: 6
- Subjects: financial institutions, the senate, insurance and financial institutions
- Touches household money: no
- Roll calls: 1 (88 yes, 4 no in all)
- Economic provisions PRIA read: 0

## Summary

Amends as follows the Indiana Code section authorizing a political subdivision to invest public funds in certificates of deposit of depositories that have not been designated as a depository by the local board of finance but have been designated by the state board of finance as a depository for state deposits: (1) Provides that an investment that is made under the section after June 30, 2018, in a certificate of deposit of a depository that is located outside the territorial limits of the investing political subdivision is considered lawfully invested and insured by the public deposits insurance fund notwithstanding the current statutory requirement that all public funds of all political subdivisions must be deposited in designated depositories located in the territorial limits of the political subdivision. (2) Eliminates, for purposes of investments in certificates of deposit made under the section, the applicability of the current statutory requirement that all public funds of all political subdivisions must be deposited in designated depositories located in the territorial limits of the political subdivision. Amends the Indiana Code section requiring that all public funds of all political subdivisions be deposited in public depositories within the territorial limits of the political subdivision to provide that a board of finance of a political subdivision that is: (1) a school corporation; or (2) a library district; may invest the public funds of the political subdivision in a designated depository located anywhere in the county in which the political subdivision is located. Authorizes a county to invest the public funds of the county in a depository that is located in another county contiguous to that county.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Kyle Pierce (Republican), House
- Cosponsor: Alaina Shonkwiler (Republican), House
- Cosponsor: Ethan Lawson (Republican), House
- Cosponsor: Jake Teshka (Republican), House
- Cosponsor: Lonnie Randolph (Democratic), Senate
- Cosponsor: Scott Baldwin (Republican), Senate
- Cosponsor: Travis Holdman (Republican), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-02-11 | House | Third reading: passed | pass | 88 | 4 |   |

## Actions (12)

- 2025-04-10: Committee report: do pass, adopted (Senate)
- 2025-03-27: Senator Randolph added as cosponsor (Senate)
- 2025-02-20: First reading: referred to Committee on Insurance and Financial Institutions (Senate)
- 2025-02-12: Referred to the Senate (House)
- 2025-02-11: Senate sponsors: Senators Holdman and Baldwin (House)
- 2025-02-11: Third reading: passed; Roll Call 142: yeas 88, nays 4 (House)
- 2025-02-10: Second reading: amended, ordered engrossed (House)
- 2025-02-10: Amendment #1 (Pierce K) prevailed; voice vote (House)
- 2025-02-04: Committee report: amend do pass, adopted (House)
- 2025-01-21: First reading: referred to Committee on Financial Institutions (House)
- 2025-01-21: Authored by Representative Pierce K (House)
- 2025-01-21: Coauthored by Representatives Teshka, Lawson, Shonkwiler (House)

## Bill text

- Engrossed House Bill (S): [PDF](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.03.ENGH?format=pdf)
- House Bill (H): [PDF](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.02.COMH?format=pdf)
- House Bill (S): [PDF](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.04.COMS?format=pdf)
- Introduced House Bill (H): [PDF](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.01.INTR?format=pdf)

## Related bills

- SB 324: Criminal procedures. (signed)
- SB 231: Various corrections matters. (signed)
- SB 80: Code publication. (signed)
- SB 453: Various tax matters. (signed)
- SB 464: Financial institutions and consumer credit. (signed)
- SB 371: Workforce matters. (signed)

## Sources
- [Engrossed House Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.03.ENGH?format=pdf)
- [House Bill (H) (PDF)](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.02.COMH?format=pdf)
- [House Bill (S) (PDF)](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.04.COMS?format=pdf)
- [Introduced House Bill (H) (PDF)](https://api.iga.in.gov/2025/bills/HB1523/versions/HB1523.01.INTR?format=pdf)

## Related
- [SB 324: Criminal procedures.](https://policyrisk.com/state-bill/IN-SB324-2025)
- [SB 231: Various corrections matters.](https://policyrisk.com/state-bill/IN-SB231-2025)
- [SB 80: Code publication.](https://policyrisk.com/state-bill/IN-SB80-2025)
- [SB 453: Various tax matters.](https://policyrisk.com/state-bill/IN-SB453-2025)
- [SB 464: Financial institutions and consumer credit.](https://policyrisk.com/state-bill/IN-SB464-2025)
- [SB 371: Workforce matters.](https://policyrisk.com/state-bill/IN-SB371-2025)
- [Indiana bills](https://policyrisk.com/states/indiana/bills)
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Source: PRIA, https://policyrisk.com/state-bill/IN-HB1523-2025 (as of 2026-10-17).