Bill Text: IL SB0732 | 2019-2020 | 101st 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: (Failed) 2021-01-13 - Session Sine Die [SB0732 Detail]

Download: Illinois-2019-SB0732-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB0732 Introduced 1/31/2019, by Sen. John J. Cullerton 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.
LRB101 04493 RJF 49501 b
A BILL FOR
SB0732 LRB101 04493 RJF 49501 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.)