IL HB5884 | 2015-2016 | 99th General Assembly
Status
Completed Legislative Action
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 29 2016 - 100% progression
Action: 2016-07-29 - Public Act . . . . . . . . . 99-0676
Text: Latest bill text (Chaptered) [HTML]
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Passed on July 29 2016 - 100% progression
Action: 2016-07-29 - Public Act . . . . . . . . . 99-0676
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Public Funds Investment Act. Provides that municipalities may invest up to $250,000 in public funds in not-for-profit community development financial institutions. Requires the financial institutions to have at least $5,000,000 in net assets and to have earned at least an "A" rating by an investment rating organization. Provides that the investments made shall be made for a term and at a rate acceptable to the municipality and the municipality may set benchmarks in order to continue investing in the not-for-profit community development financial institution.
Title
MUNI INVEST-NOT-FOR-PROFIT
Sponsors
Roll Calls
2016-05-30 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2016-04-14 - House - Third Reading in House (Y: 114 N: 0 NV: 1 Abs: 0) [PASS]
2016-04-14 - House - Third Reading in House (Y: 114 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2016-07-29 | House | Public Act . . . . . . . . . 99-0676 |
| 2016-07-29 | House | Effective Date July 29, 2016 |
| 2016-07-29 | House | Governor Approved |
| 2016-06-27 | House | Sent to the Governor |
| 2016-05-30 | House | Passed Both Houses |
| 2016-05-30 | Senate | Third Reading - Passed; 055-000-000 |
| 2016-05-27 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2016 |
| 2016-05-17 | Senate | Placed on Calendar Order of 3rd Reading May 18, 2016 |
| 2016-05-17 | Senate | Second Reading |
| 2016-05-10 | Senate | Placed on Calendar Order of 2nd Reading May 11, 2016 |
| 2016-05-10 | Senate | Do Pass Revenue; 009-000-000 |
| 2016-04-27 | Senate | Assigned to Revenue |
| 2016-04-18 | Senate | Referred to Assignments |
| 2016-04-18 | Senate | First Reading |
| 2016-04-15 | Senate | Chief Senate Sponsor Sen. Toi W. Hutchinson |
| 2016-04-14 | Senate | Placed on Calendar Order of First Reading April 18, 2016 |
| 2016-04-14 | Senate | Arrive in Senate |
| 2016-04-14 | House | Added Chief Co-Sponsor Rep. Donald L. Moffitt |
| 2016-04-14 | House | Third Reading - Short Debate - Passed 114-000-000 |
| 2016-04-13 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2016-04-13 | House | House Floor Amendment No. 1 Adopted |
| 2016-04-13 | House | Second Reading - Short Debate |
| 2016-04-13 | House | House Floor Amendment No. 1 Recommends Be Adopted Cities & Villages Committee; 004-000-000 |
| 2016-04-06 | House | House Floor Amendment No. 1 Rules Refers to Cities & Villages Committee |
| 2016-04-05 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2016-04-05 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Katherine Cloonen |
| 2016-04-05 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2016-04-04 | House | Do Pass / Short Debate Cities & Villages Committee; 006-001-000 |
| 2016-03-23 | House | Assigned to Cities & Villages Committee |
| 2016-02-11 | House | Referred to Rules Committee |
| 2016-02-11 | House | First Reading |
| 2016-02-11 | House | Filed with the Clerk by Rep. Katherine Cloonen |
