Bill Title: Amends the State Treasurer Act. Provides that if the Treasurer determines that any moneys in the Treasurer's Rental Fee Fund are in excess of the amount necessary to sustain the operation of the program established under the Section concerning banking and automatic teller machine services, the Treasurer may transfer any unobligated and unexpended moneys from the Treasurer's Rental Fee Fund into the State Pensions Fund. Amends the Uniform Disposition of Unclaimed Property Act. Provides that if on either April 15 or October 15, the State Treasurer determines that a balance of $2,500,000 is insufficient for the prompt payment of unclaimed property claims authorized under the Act, the Treasurer may retain more than $2,500,000 in the Unclaimed Property Trust Fund in order to ensure the prompt payment of claims. Provides that beginning in State fiscal year 2014, all amounts (instead of all amounts in excess of $2,500,000) that are deposited into the State Pensions Fund from the Unclaimed Property Trust Fund shall be apportioned to the designated retirement systems as provided in the State Finance Act to reduce their actuarial reserve deficiencies. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2013-06-10 - Public Act . . . . . . . . . 98-0019 [SB1515 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Don Harmon [D]	Primary	Sponsored Bills	SD-039	FollowTheMoney	Ballotpedia	VoteSmart
Senator Steven Landek [D]	Cosponsor	Sponsored Bills	SD-012	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Madigan [D]	Primary	Sponsored Bills	HD-022	FollowTheMoney	Ballotpedia	VoteSmart

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