The bill, identified as Substitute House Bill No. 5143 with File No. 142, mandates the Department of Banking to conduct a study on financial transactions within the state. The department is required to submit a report on the results of this study to the joint standing committee of the General Assembly that oversees banking matters by January 15, 2025. This bill is effective from the date of passage and creates a new section in the law, as indicated by the insertion "Section 1 from passage New section." The fiscal impact statement accompanying the bill clarifies that there will be no fiscal impact on the state or municipal levels, as the Department of Banking possesses the necessary expertise to carry out the study without incurring additional costs. The bill has received a joint favorable vote from the Banking Committee with 10 yeas and 2 nays on March 12, 2024. The title of the bill was also changed for accuracy, as noted by the Legislative Commissioners.