Bill Text: IL SB0360 | 2011-2012 | 97th General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB0360 Detail]

Download: Illinois-2011-SB0360-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB0360 Introduced 2/8/2011, by Sen. John J. Cullerton 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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AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Public Funds Investment Act is amended by
changing Section 1 as follows:
(30 ILCS 235/1) (from Ch. 85, par. 901)
Sec. 1. The The words "public funds", as used in this Act,
mean current operating funds, special funds, interest and
sinking funds, and funds of any kind or character belonging to
or in the custody of any public agency.
The words "public agency", as used in this Act, mean the
State of Illinois, the various counties, townships, cities,
towns, villages, school districts, educational service
regions, special road districts, public water supply
districts, fire protection districts, drainage districts,
levee districts, sewer districts, housing authorities, the
Illinois Bank Examiners' Education Foundation, the Chicago
Park District, and all other political corporations or
subdivisions of the State of Illinois, now or hereafter
created, whether herein specifically mentioned or not. This Act
does not apply to the Illinois Prepaid Tuition Trust Fund,
private funds collected by the Illinois Conservation
Foundation, or pension funds or retirement systems established

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under the Illinois Pension Code, except as otherwise provided
in that Code.
(Source: P.A. 91-669, eff. 1-1-00; 92-797, eff. 8-15-02.)