All Roll Calls
Yes: 0 • No: 0
Northern Mariana IslandsHB 24-6824th Northern Mariana Islands Legislature (2025-2026)HouseWALLET
To conditionally authorize the Marianas Public Land Trust to establish a margin account solely to facilitate the $29,000,000 loan authorized under Public Law 24-13, subject to the continuing fiduciary and constitutional duties of the Trustees.
Sponsored By: John Paul Palacios Sablan (Independent)
Became Law
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Marianas Public Land Trust margin account allowed with strict limits
The law lets the Marianas Public Land Trust open a margin account with a licensed U.S. broker-dealer. It can be used only to secure the $29 million loan under Public Law 24-13. Trustees may pledge only needed investment‑grade securities, and total collateral or borrowing exposure cannot exceed the cash value of $29 million. Trustees keep their constitutional duties of prudence, loyalty, and protecting the corpus; no margin deal is automatically prudent, and there is no indemnity or immunity. Within 30 days of opening the account, Trustees must report collateral, terms, and safeguards to the Governor and Legislature, then give quarterly updates until the account is closed.
Sponsors & Cosponsors
Sponsor
John Paul Palacios Sablan
Independent • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 11/14/2025
Senate Final Reading — Passed (HD1)
Yes: 0 • No: 0
House vote • 11/6/2025
House Final Reading — Passed (HD1)
Yes: 0 • No: 0
Actions Timeline
Senate Final Reading — Passed (HD1)
11/14/2025SenateP.L. 24-17
11/11/2025HouseHouse Final Reading — Passed (HD1)
11/6/2025HouseHouse First Reading — Passed (HD1)
11/6/2025HouseIntroduced
10/15/2025House
Bill Text
HB 24-68
10/15/2025
P.L. 24-17
10/15/2025
[HD1]
10/15/2025
Related Bills
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SB 24-04 — to advance Chamorro & Carolinian language education in the CNMI
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HB 24-35 — To amend certain provisions of the CNMI Good Samaritan Act [7 CMC § 2801 et seq.]; and for other purposes.
HB 24-11 — To provide greater authority to government transit buses owned and operated by the Commonwealth Office of Transit Authority (COTA); to establish traffic safety measures, enhance public engagement, ensure fiscal responsibility, and comply with existing CNMI laws and federal standards; and for other purposes.
HB 24-82 — To amend Section 704(k) of Public Law 24-20 to prevent disruption or delay of allotments, payments, or expenditures of the Legislative Branch by adding a transition period of up to 270 days for the implementation of the Legislature’s Finance Department; and for other purposes.