The bill, titled "AN ACT CONCERNING A STUDY REGARDING THE ESTABLISHMENT OF LIMITED PURPOSE TRUST COMPANIES," mandates the Department of Banking to conduct a study on the potential establishment of limited purpose trust companies in the state. The study is required to be completed by December 1, 2025, and the findings must be reported to the relevant joint standing committee of the General Assembly. The report should include recommendations for any necessary legislation to facilitate the establishment of these trust companies.

This act introduces new legal language by creating a new section that outlines the study's requirements and reporting timeline. There are no deletions from current law noted in this bill. The overall goal is to explore the feasibility and legislative needs for limited purpose trust companies in the state, potentially expanding the financial services landscape.