Bill Text: IL HB1574 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning classes of depositaries.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2022-04-11 - Rule 19(a) / Re-referred to Rules Committee [HB1574 Detail]

Download: Illinois-2021-HB1574-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB1574 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
15 ILCS 520/4 from Ch. 130, par. 23
Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning classes of depositaries.
LRB102 03605 RJF 13618 b
A BILL FOR
HB1574 LRB102 03605 RJF 13618 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 4 as follows:
(15 ILCS 520/4) (from Ch. 130, par. 23)
Sec. 4. There shall be two classes of depositaries, time
deposit and and demand deposit, and separate proposals shall
be obtained for each class. In calling for proposals the State
Treasurer shall indicate that separate quotations of rates of
interest may be made upon such State moneys as shall be
deposited in such bank or savings and loan association and
permitted to remain without diminution for 30, 60 or 90 days,
or for longer periods.
(Source: P.A. 83-541.)