Bill Text: IL SB1305 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Public Funds Investment Act. Makes a technical change in a Section concerning definitions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB1305 Detail]
Download: Illinois-2019-SB1305-Introduced.html
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1 | AN ACT concerning finance.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Public Funds Investment Act is amended by | |||||||||||||||||||
5 | changing Section 1 as follows:
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6 | (30 ILCS 235/1) (from Ch. 85, par. 901)
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7 | Sec. 1.
The
The words "public funds", as used in this Act, | |||||||||||||||||||
8 | mean current
operating funds, special funds, interest and | |||||||||||||||||||
9 | sinking funds, and funds of
any kind or character belonging to | |||||||||||||||||||
10 | or in the custody of any public agency. | |||||||||||||||||||
11 | The words "public agency", as used in this Act, mean the | |||||||||||||||||||
12 | State of
Illinois, the various counties, townships, cities, | |||||||||||||||||||
13 | towns, villages, school
districts, educational service | |||||||||||||||||||
14 | regions, special road districts, public
water supply | |||||||||||||||||||
15 | districts, fire protection districts, drainage districts, | |||||||||||||||||||
16 | levee
districts, sewer districts, housing authorities, the | |||||||||||||||||||
17 | Illinois Bank Examiners'
Education Foundation, the Chicago | |||||||||||||||||||
18 | Park District, and all other political
corporations or | |||||||||||||||||||
19 | subdivisions of the State of Illinois, now or hereafter
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20 | created, whether herein specifically mentioned or not.
This Act | |||||||||||||||||||
21 | does not apply to the Illinois Prepaid Tuition Trust Fund,
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22 | private funds collected by the Illinois Conservation | |||||||||||||||||||
23 | Foundation, or
pension
funds or retirement systems established
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1 | under the Illinois Pension Code, except as otherwise provided | ||||||
2 | in that Code.
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3 | The words "governmental unit", as used in this Act, have | ||||||
4 | the same meaning as in the Local Government Debt Reform Act. | ||||||
5 | (Source: P.A. 98-297, eff. 1-1-14.)
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