Bill Text: IL HB1116 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Amends the Public Funds Investment Act. Makes a technical change in a Section concerning definitions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2017-04-28 - Rule 19(a) / Re-referred to Rules Committee [HB1116 Detail]

Download: Illinois-2017-HB1116-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1116

Introduced , by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:
30 ILCS 235/1 from Ch. 85, par. 901

Amends the Public Funds Investment Act. Makes a technical change in a Section concerning definitions.
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A BILL FOR

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1 AN ACT concerning finance.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Public Funds Investment Act is amended by
5changing Section 1 as follows:
6 (30 ILCS 235/1) (from Ch. 85, par. 901)
7 Sec. 1. The The words "public funds", as used in this Act,
8mean current operating funds, special funds, interest and
9sinking funds, and funds of any kind or character belonging to
10or in the custody of any public agency.
11 The words "public agency", as used in this Act, mean the
12State of Illinois, the various counties, townships, cities,
13towns, villages, school districts, educational service
14regions, special road districts, public water supply
15districts, fire protection districts, drainage districts,
16levee districts, sewer districts, housing authorities, the
17Illinois Bank Examiners' Education Foundation, the Chicago
18Park District, and all other political corporations or
19subdivisions of the State of Illinois, now or hereafter
20created, whether herein specifically mentioned or not. This Act
21does not apply to the Illinois Prepaid Tuition Trust Fund,
22private funds collected by the Illinois Conservation
23Foundation, or pension funds or retirement systems established

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1under the Illinois Pension Code, except as otherwise provided
2in that Code.
3 The words "governmental unit", as used in this Act, have
4the same meaning as in the Local Government Debt Reform Act.
5(Source: P.A. 98-297, eff. 1-1-14.)
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