This amendment changes the provision relating to the effective date so that the safe harbor provisions of Senate Substitute No.

Plain English Breakdown

The official text states Sections 1 and 2 do not apply to actions commenced before enactment, but does not explicitly define if this prevents any legal effect on those past cases or simply means new rules don't attach.

Amendment Changing Effective Dates for Safe Harbor Rules

This amendment proposed changing when new safe harbor rules start working so they would not affect past actions or old requests to see records.

What This Bill Does

• Proposed to change the effective date rule in Senate Substitute No. 1 for Senate Bill No. 21.
• Would have required that safe harbor provisions apply only to acts and transactions happening after the law is enacted.
• Would have limited books and records rules so they apply only to demands made after the law is enacted.

Who It Names or Affects

• People who perform acts or transactions covered by Senate Bill No. 21
• Entities that receive demands to inspect books and records

Terms To Know

Safe harbor provisions

Rules in the bill intended to offer protection from certain legal penalties or actions.

Effective date

The specific day when a new law officially starts to work.

Limits and Unknowns

• This amendment was defeated by the House of Representatives on March 25, 2025.
• Because it did not pass, these changes do not become part of the final law.
• The text does not explain what specific acts or transactions are covered without reading Senate Bill No. 21.

Official Summary Text

This amendment changes the provision relating to the effective date so that the safe harbor provisions of Senate Substitute No. 1 for Senate Bill No. 21 apply only to acts and transactions occurring after the Act's date of enactment and the books and records provisions apply only to demands made after the Act's date of enactment.

Current Bill Text

Legislation Document

SPONSOR:

Rep. Burns

HOUSE OF REPRESENTATIVES

153rd GENERAL ASSEMBLY

HOUSE AMENDMENT NO. 3

TO

SENATE SUBSTITUTE NO. 1

FOR

SENATE BILL NO. 21

AMEND Senate Substitute No. 1 for Senate Bill No. 21 by deleting Section 3 in its entirety and inserting in lieu thereof the following:

“Section 3. Sections 1 and 2 of this Act take effect following this Act’s enactment into law (the “Effective Date”) and apply to all acts and transactions that occur after the enactment of this Act. Sections 1 and 2 of this Act do not apply to or affect any action or proceeding commenced in a court of competent jurisdiction that is completed or pending, or any demand to inspect books and records made on or before the Effective Date.”.

SYNOPSIS

This amendment changes the provision relating to the effective date so that the safe harbor provisions of Senate Substitute No. 1 for Senate Bill No. 21 apply only to acts and transactions occurring after the Act's date of enactment and the books and records provisions apply only to demands made after the Act's date of enactment.