IL SB1812 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on July 7 2014 - 100% progression
Action: 2014-07-07 - Public Act . . . . . . . . . 98-0703
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on July 7 2014 - 100% progression
Action: 2014-07-07 - Public Act . . . . . . . . . 98-0703
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Public Funds Deposit Act. Provides that, in addition to other investments permitted by law, any treasurer or other custodian of public funds may deposit those funds into demand deposit accounts. Excludes those deposits from statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits, and to the pledging of collateral by a bank to secure public deposits, if (i) the public agency initiates the investment at or through a bank located in Illinois and (ii) the invested public funds are at all times fully insured by an agency or instrumentality of the federal government. Effective immediately.
Title
FINANCE-DEMAND DEPOST ACCTS
Sponsors
Sen. Terry Link [D] | Sen. Michael Connelly [R] | Rep. Rich Brauer [R] | Rep. Frank Mautino [D] |
Rep. David Leitch [R] | Rep. Tom Demmer [R] | Rep. Andre Thapedi [D] |
Roll Calls
2014-04-09 - House - Third Reading in House (Y: 110 N: 1 NV: 1 Abs: 3) [PASS]
2013-04-12 - Senate - Third Reading in Senate (Y: 50 N: 0 NV: 9 Abs: 0) [PASS]
2013-04-12 - Senate - Third Reading in Senate (Y: 50 N: 0 NV: 9 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2014-07-07 | Senate | Public Act . . . . . . . . . 98-0703 |
2014-07-07 | Senate | Effective Date July 7, 2014 |
2014-07-07 | Senate | Governor Approved |
2014-05-08 | Senate | Sent to the Governor |
2014-04-09 | Senate | Passed Both Houses |
2014-04-09 | House | Third Reading - Short Debate - Passed 110-001-001 |
2014-04-09 | House | Added Alternate Chief Co-Sponsor Rep. André M. Thapedi |
2014-04-09 | House | Added Alternate Chief Co-Sponsor Rep. Tom Demmer |
2014-04-09 | House | Added Alternate Chief Co-Sponsor Rep. David R. Leitch |
2014-04-09 | House | Added Alternate Chief Co-Sponsor Rep. Frank J. Mautino |
2014-02-25 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2014-02-25 | House | Second Reading - Short Debate |
2014-02-05 | House | Placed on Calendar 2nd Reading - Short Debate |
2014-02-05 | House | Do Pass / Short Debate State Government Administration Committee; 020-000-000 |
2014-01-28 | House | Assigned to State Government Administration Committee |
2013-04-15 | House | Referred to Rules Committee |
2013-04-15 | House | First Reading |
2013-04-15 | House | Chief House Sponsor Rep. Rich Brauer |
2013-04-12 | House | Arrived in House |
2013-04-12 | Senate | Third Reading - Passed; 050-000-000 |
2013-04-12 | Senate | Added as Chief Co-Sponsor Sen. Michael Connelly |
2013-03-13 | Senate | Placed on Calendar Order of 3rd Reading March 14, 2013 |
2013-03-13 | Senate | Second Reading |
2013-03-06 | Senate | Placed on Calendar Order of 2nd Reading March 7, 2013 |
2013-03-06 | Senate | Do Pass Financial Institutions; 010-000-000 |
2013-02-27 | Senate | Assigned to Financial Institutions |
2013-02-15 | Senate | Referred to Assignments |
2013-02-15 | Senate | First Reading |
2013-02-15 | Senate | Filed with Secretary by Sen. Terry Link |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 225 | 1 | Amended Code | Citation Text |
30 | 235 | 6.5 | Amended Code | Citation Text |