Bill Text: IL HB3005 | 2017-2018 | 100th General Assembly | Enrolled

Bill Title: Amends the Deposit of State Moneys Act. Provides that the State Treasurer may, with the approval of the Governor, invest or reinvest (regardless of whether the price exceeds par) any State money in the treasury that is not needed for current expenditures due or about to become due, or any money in the State Treasury that has been set aside and held for the payment of the principal of and interest on any State bonds, in bonds issued by counties or municipal corporations of this State. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Enrolled) 2017-06-25 - Passed Both Houses [HB3005 Detail]

Download: Illinois-2017-HB3005-Enrolled.html

HB3005 EnrolledLRB100 09021 RJF 19168 b
1 AN ACT concerning State government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The State Treasurer Act is amended by changing
5Section 7 as follows:
6 (15 ILCS 505/7) (from Ch. 130, par. 7)
7 Sec. 7. The State Treasurer shall receive the revenues and
8all other public moneys of the state, and all moneys authorized
9by law to be paid to him, and safely keep the same. Revenue
10received by the State in the form of coins, cash, checks,
11drafts, electronic fund transfers, electronic checks, credit
12card payments, debit card payments, or other similar payment
13instruments and the processing thereof shall be authorized for
14acceptance and collection by the State Treasurer.
15(Source: Laws 1873, p. 186.)
16 Section 99. Effective date. This Act takes effect upon
17becoming law.