Bill Text: IL HB5114 | 2015-2016 | 99th 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB5114 Detail]

Download: Illinois-2015-HB5114-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB5114 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.
LRB099 17206 RJF 41564 b
A BILL FOR
HB5114 LRB099 17206 RJF 41564 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.)