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

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: (Passed) 2017-09-08 - Public Act . . . . . . . . . 100-0490 [HB3005 Detail]

Download: Illinois-2017-HB3005-Chaptered.html

Public Act 100-0490
HB3005 EnrolledLRB100 09021 RJF 19168 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 State Treasurer Act is amended by changing
Section 7 as follows:
(15 ILCS 505/7) (from Ch. 130, par. 7)
Sec. 7. The State Treasurer shall receive the revenues and
all other public moneys of the state, and all moneys authorized
by law to be paid to him, and safely keep the same. Revenue
received by the State in the form of coins, cash, checks,
drafts, electronic fund transfers, electronic checks, credit
card payments, debit card payments, or other similar payment
instruments and the processing thereof shall be authorized for
acceptance and collection by the State Treasurer.
(Source: Laws 1873, p. 186.)
Section 99. Effective date. This Act takes effect upon
becoming law.