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sHB5318 / File No. 163 1
General Assembly File No. 163
February Session, 2026 Substitute House Bill No. 5318
House of Representatives, March 25, 2026
The Committee on Banking reported through REP. DOUCETTE
of the 13th Dist., Chairperson of the Committee on the part of
the House, that the substitute bill ought to pass.
AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) ( Effective October 1, 2026 ) (a) For purposes of this 1
section: 2
(1) "Banking institution" has the same meaning as provided in section 3
36a-309 of the general statutes; 4
(2) "Candidate committee" has the same meaning as provided in 5
section 9-601 of the general statutes; 6
(3) "Committee banking account" means a consumer transaction 7
account used primarily for the purposes of a candidate committee, party 8
committee or political committee; 9
(4) "Connecticut credit union" has the same meaning as provided in 10
section 36a-2 of the general statutes; 11
(5) "Consumer transaction account" means a demand deposit 12
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account, share draft account or similar account; 13
(6) "Exempt credit union" means a Connecticut credit union, federal 14
credit union or out-of-state credit union having total assets of less than 15
fifty million dollars; 16
(7) "Federal credit union" has the same meaning as provided in 17
section 36a-2 of the general statutes; 18
(8) "Out-of-state credit union" has the same meaning as provided in 19
section 36a-2 of the general statutes; 20
(9) "Party committee" has the same meaning as provided in section 9-21
601 of the general statutes; and 22
(10) "Political committee" has the same meaning as provided in 23
section 9-601 of the general statutes. 24
(b) On and after October 1, 2026, each banking institution, other than 25
an exempt credit union, shall make committee banking accounts 26
available to candidate committees, party committees and political 27
committees. 28
(c) A committee banking account shall offer at least the following to 29
the depositor: (1) A debit card, (2) ATM in-network access, (3) deposits, 30
(4) check cashing for checks issued by the banking institution at which 31
the depositor holds the committee banking account, (5) electronic 32
monthly statements, (6) copies of cancelled checks, and (7) copies of 33
deposit slips. Nothing in this subsection shall be construed to require a 34
banking institution to include additional enhanced account features, 35
such as preferred or incentive interest rates or rewards programs, with 36
a committee banking account. 37
(d) A banking institution shall allow a person to open a committee 38
banking account when the banking institution is presented with a State 39
Elections Enforcement Commission "Form 1", "Form 2" or "Form 3" that 40
(1) has been filed with the commission or a town clerk, and (2) is 41
accompanied by satisfactory proof of a federal employer identification 42
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number. 43
(e) The Banking Commissioner shall, in the course of evaluating the 44
performance of a Connecticut bank or a Connecticut credit union in 45
meeting its obligations under part II of chapter 664a of the general 46
statutes, provide credit to such bank or credit union for offering a 47
committee banking account. 48
(f) The Banking Commissioner, in consultation with the State 49
Elections Enforcement Commission, may adopt regulations, in 50
accordance with the provisions of chapter 54 of the general statutes, to 51
carry out the purposes of this section. 52
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2026 New section
BA Joint Favorable Subst.
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The following Fiscal Impact Statement and Bill Analysis are prepared for the benefit of the members of
the General Assembly, solely for purposes of information, summarization and explanation and do not
represent the intent of the General Assembly or either chamber thereof for any purpose. In general,
fiscal impacts are based upon a variety of informational sources, including the analyst’s professional
knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final
products do not necessarily reflect an assessment from any specific department.
OFA Fiscal Note
State Impact: None
Municipal Impact: None
Explanation
The bill, which requires certain banking institutions to make banking
accounts available to candidates, parties, and political committees,
results in no fiscal impact to the state.
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OLR Bill Analysis
sHB 5318
AN ACT CONCERNING COMMITTEE BANKING ACCOUNTS.
SUMMARY
Starting October 1, 2026, this bill requires certain banking institutions,
other than credit unions with total assets of less than $50 million, to
make “committee banking accounts” available to candidate committees,
party committees (state central or town) , and political committees (see
BACKGROUND). Under the bill, these accounts are demand deposit,
share draft, or similar accounts used primarily for these committees’
purposes.
The bill allows a person to open one of these accounts by presenting
(1) a State Elections Enforcement Commission (SEEC) Form 1, 2, or 3
that has been filed with SEEC or a town clerk and (2) satisfactory proof
of a federal employer ID number . The bill requires that these accounts,
at a minimum, offer a debit card, ATM in -network access, deposits,
check cashing for checks issued by the same institution, electronic
monthly statements, and copies of cancelled checks and deposit slips .
But institutions do not n eed to include additional enhanced account
features, like preferred or incentive interest rates or rewards programs.
The bill r equires the banking commissioner to give Connecticut
banks and credit unions credit for offering these accounts when
evaluating their performance under the state Community Reinvestment
Act. It also authorizes the commissioner, in consultation with SEEC, to
adopt regulations to implement the bill’s provisions.
Under the bill, this requirement applies to “banking institutions”
which are banks, trust companies, savings banks, savings and loan
associations, credit unions, or foreign bank branches insured by the
Federal Deposit Insurance Corporation or National Cred it Union
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Administration, as applicable. It does not apply to state or federally
chartered credit unions with total assets of less than $50 million.
EFFECTIVE DATE: October 1, 2026
BACKGROUND
Candidate Committees
A “candidate committee” is a committee designated by a single
candidate, or set up with his or her consent, for a single primary or
election and to help promote the candidate’s candidacy for a particular
public office or town committee member position.
Political Committees
A “political committee” is (1) a committee organized by a business or
labor union; (2) people or entities, other than individuals, or two or more
individuals organized or acting jointly, conducting activities in- or out-
of-state; (3) an exploratory committee; (4) a slate committee in a primary
for the office of justice of the peace; or (5) a legislative caucus or
legislative leadership committee.
COMMITTEE ACTION
Banking Committee
Joint Favorable Substitute
Yea 13 Nay 0 (03/10/2026)