Illinois House Bill 5806 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on July 1 2020 - 25% progression, died in committee
Action: 2020-11-10 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Public Funds Investment Act. Provides that when investing or depositing public funds, each public agency shall invest or deposit such funds with or in financial institutions that have a board of directors consisting of at least 20% persons of color. Provides that a financial institution that does not have a board of directors consisting of at least 20% persons of color may increase or modify its board membership. Provides that any public agency investing or depositing public funds shall divest any previously invested or deposited funds from any financial institution failing to meet specified requirements by January 1, 2021. Defines "persons of color". Makes conforming changes. Effective immediately.

PUBLIC FUNDS-GOVT INVESTMENT

Rep. Emanuel Welch [D]

Rep. Anna Moeller [D]

Rep. Marcus Evans [D]

Date	Chamber	Action
2020-11-10	House	Referred to Rules Committee
2020-11-10	House	First Reading
2020-09-14	House	Added Co-Sponsor Rep. Marcus C. Evans, Jr.
2020-08-31	House	Added Chief Co-Sponsor Rep. Anna Moeller
2020-07-01	House	Filed with the Clerk by Rep. Emanuel Chris Welch

Chapter	Article	Section	Citation Type	Statute Text
30	235	7	Amended Code	Citation Text
30	235	7.5	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5806&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB5806.htm