Bill Title: Amends the Deposit of State Moneys Act. Modifies a Section concerning agreements entered into by the State Treasurer with any bank or savings and loan association relating to the deposit of securities. Provides that such agreements may authorize the holding of securities in any bank or a depository trust company in the United States (rather than New York City). Adds to the classes of securities that the State Treasurer may accept as collateral for deposits not insured by an agency of the federal government. Adds to and modifies the investments in which the State Treasurer may invest or reinvest on behalf of the State. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2019-08-02 - Public Act . . . . . . . . . 101-0206 [SB1289 Detail]

Text: Latest bill text (Chaptered) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Jacqueline Collins [D]	Primary	Sponsored Bills	SD-016	FollowTheMoney	Ballotpedia	VoteSmart
Senator Laura Murphy [D]	Cosponsor	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Representative Stephanie Kifowit [D]	Primary	Sponsored Bills	HD-084	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL SB1289