Bill Text: IL HB0385 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB0385 Detail]

Download: Illinois-2011-HB0385-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB0385 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
15 ILCS 520/1.1 from Ch. 130, par. 20.1
Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.
LRB097 03272 RLJ 43309 b
A BILL FOR
HB0385 LRB097 03272 RLJ 43309 b
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Deposit of State Moneys Act is amended by
changing Section 1.1 as follows:
(15 ILCS 520/1.1) (from Ch. 130, par. 20.1)
Sec. 1.1. When investing or depositing public funds, each
custodian shall, to the the extent permitted by this Act and by
the lawful and reasonable performance of his custodial duties,
invest or deposit such funds with or in minority-owned
financial institutions within this State.
(Source: P.A. 84-754.)