Bill Text: IL SB2363 | 2017-2018 | 100th General Assembly | Enrolled
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Administrative Procedure Act. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Passed) 2018-08-19 - Public Act . . . . . . . . . 100-0969 [SB2363 Detail]
Download: Illinois-2017-SB2363-Enrolled.html
Bill Title: Amends the Illinois Administrative Procedure Act. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Passed) 2018-08-19 - Public Act . . . . . . . . . 100-0969 [SB2363 Detail]
Download: Illinois-2017-SB2363-Enrolled.html
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1 | AN ACT concerning government.
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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 State Treasurer Act is amended by changing | ||||||
5 | Section 17 and by adding Section 30 as follows:
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6 | (15 ILCS 505/17) (from Ch. 130, par. 17)
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7 | Sec. 17.
The State Treasurer may establish and administer | ||||||
8 | both a Public
Treasurers'
Investment Pool and an E-Pay program | ||||||
9 | to supplement
and enhance both the investment opportunities and | ||||||
10 | the secure electronic payment options otherwise available to | ||||||
11 | other
custodians
of public funds for public agencies
in this | ||||||
12 | State.
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13 | The Treasurer, in administering the Public Treasurers' | ||||||
14 | Investment Pool,
may receive public
funds paid into the pool by | ||||||
15 | any other custodian of such funds and may serve
as the fiscal | ||||||
16 | agent of
that custodian of public funds for the purpose of | ||||||
17 | holding and investing those
funds.
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18 | The Treasurer may invest the public funds constituting the | ||||||
19 | Public Treasurers'
Investment
Pool in the same manner, in the | ||||||
20 | same types of investments and subject to
the same limitations
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21 | provided for the investment of funds in the State Treasury. The | ||||||
22 | Treasurer
shall develop, publish, and implement an investment | ||||||
23 | policy covering the
management of funds in the Public |
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1 | Treasurers' Investment Pool. The policy
shall be published each | ||||||
2 | year as part of the audit
of the Public Treasurers' Investment | ||||||
3 | Pool by the Auditor General, which shall
be distributed to all | ||||||
4 | participants. The Treasurer shall notify all Public
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5 | Treasurers' Investment Pool participants in writing, and the | ||||||
6 | Treasurer shall
publish in at least one newspaper of general | ||||||
7 | circulation in both Springfield
and Chicago any changes to a | ||||||
8 | previously published investment policy at least 30
calendar | ||||||
9 | days before implementing the policy. Any such investment policy
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10 | adopted by the Treasurer shall be reviewed, and updated if | ||||||
11 | necessary, within 90
days following the installation of a new | ||||||
12 | Treasurer.
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13 | The Treasurer shall promulgate such rules and regulations | ||||||
14 | as he deems
necessary
for the efficient
administration of the | ||||||
15 | Public Treasurers' Investment Pool and the E-Pay program, | ||||||
16 | including
specification
of minimum amounts
which may be | ||||||
17 | deposited in the Pool and minimum periods of time for which
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18 | deposits
shall be retained in the Pool. The rules shall provide | ||||||
19 | for the administration
expenses of the Pool to be
paid from its | ||||||
20 | earnings and for the interest earnings in excess of such | ||||||
21 | expenses
to be credited or
paid monthly to the several | ||||||
22 | custodians of public funds participating in
the Pool in a | ||||||
23 | manner which equitably
reflects the differing amounts of their | ||||||
24 | respective investments in the Pool and
the
differing periods of | ||||||
25 | time for which such amounts were in the custody of the
Pool.
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26 | Upon creating a Public Treasurers' Investment Pool the |
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1 | State Treasurer shall
give bond with 2 or more sufficient | ||||||
2 | sureties, payable to custodians of public
funds who participate
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3 | in the Pool for the benefit of the public agencies whose funds | ||||||
4 | are paid
into the Pool for investment,
in the penal sum of | ||||||
5 | $150,000, conditioned for the faithful discharge of
his duties | ||||||
6 | in relation to the
Public Treasurers' Investment Pool.
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7 | "Public agency", as used in this Section, means the State | ||||||
8 | of Illinois or any political subdivision, or any agency, board, | ||||||
9 | or department thereof, any special district, any municipality, | ||||||
10 | or any unit of local government. | ||||||
11 | "Public funds", as used in this Section, means current | ||||||
12 | operating funds, special funds, and funds of any kind or | ||||||
13 | character belonging to or in the custody of any public agency. | ||||||
14 | "Public funds" and "public agency", as used in this Section | ||||||
15 | have the meanings ascribed
to them in Section 1 of "An Act | ||||||
16 | relating to certain investments of public
funds by public
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17 | agencies", approved July 23, 1943, as amended.
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18 | This amendatory Act of 1975 is not a limit on any home rule | ||||||
19 | unit.
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20 | After the effective date of this amendatory Act of the 99th | ||||||
21 | General Assembly, participation in the Public Treasurers' | ||||||
22 | Investment Pool shall not be a prerequisite for participation | ||||||
23 | in the Treasurer's E-Pay program. | ||||||
24 | (Source: P.A. 99-856, eff. 8-19-16.)
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25 | (15 ILCS 505/30 new) |
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1 | Sec. 30. Preferences for veterans, minorities, women, and | ||||||
2 | persons with disabilities. | ||||||
3 | (a) As used in this Section: | ||||||
4 | (1) the terms "minority person", "woman", "person with | ||||||
5 | a disability", "minority-owned business", "women-owned | ||||||
6 | business", "business owned by a person with a disability", | ||||||
7 | and "control" have the meanings provided in Section 1 of | ||||||
8 | the Business Enterprise for Minorities, Women, and Persons | ||||||
9 | with Disabilities Act; and | ||||||
10 | (2) the terms "veteran", "qualified veteran-owned | ||||||
11 | small business", "qualified service-disabled veteran-owned | ||||||
12 | small business", "qualified service-disabled veteran", and | ||||||
13 | "armed forces of the United States" have the meanings | ||||||
14 | provided in Article 1 of the Illinois Procurement Code. | ||||||
15 | (b) It is hereby declared to be the policy of the State | ||||||
16 | Treasurer to promote and encourage the use of businesses owned | ||||||
17 | by or under the control of qualified veterans of the armed | ||||||
18 | forces of the United States, qualified service-disabled | ||||||
19 | veterans, minority persons, women, or persons with a disability | ||||||
20 | in the area of goods and services. Furthermore, the State | ||||||
21 | Treasurer shall utilize such businesses to the greatest extent | ||||||
22 | feasible within the bounds of financial and fiduciary prudence, | ||||||
23 | and take affirmative steps to remove any barriers to the full | ||||||
24 | participation of such firms in the procurement and contracting | ||||||
25 | opportunities afforded. | ||||||
26 | (c) It shall be an aspirational goal of the State Treasurer |
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1 | to use businesses owned by or under the control of qualified | ||||||
2 | veterans of the armed forces of the United States, qualified | ||||||
3 | service-disabled veterans, minority persons, women, or persons | ||||||
4 | with a disability for not less than 25% of the total dollar | ||||||
5 | amount of funds under management, purchases of investment | ||||||
6 | securities, and other contracts, including, but not limited to, | ||||||
7 | the use of broker-dealers. The State Treasurer is authorized to | ||||||
8 | establish additional aspirational goals. | ||||||
9 | (d) When the State Treasurer procures goods and services, | ||||||
10 | whether through a request for proposal or otherwise, he or she | ||||||
11 | is authorized to incorporate preferences in the scoring process | ||||||
12 | for: (1) a minority-owned business, a women-owned business, a | ||||||
13 | business owned by a person with a disability, a qualified | ||||||
14 | veteran-owned small business, or a qualified service-disabled | ||||||
15 | veteran-owned small business; and (2) businesses having a | ||||||
16 | record of support for increasing diversity and inclusion in | ||||||
17 | board membership, management, employment, philanthropy, and | ||||||
18 | supplier diversity, including investment professionals and | ||||||
19 | investment sourcing. | ||||||
20 | When the State Treasurer utilizes a financial institution | ||||||
21 | or determines the eligibility of a financial institution to | ||||||
22 | participate in a banking contract, investment contract, | ||||||
23 | investment activity, or other financial program of the State | ||||||
24 | Treasurer, he or she shall review the financial institution's | ||||||
25 | Community Reinvestment Act rating, record, and current level of | ||||||
26 | financial commitment to the community prior to making a |
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1 | decision to utilize or determine the eligibility of such | ||||||
2 | financial institution. | ||||||
3 | (e) Beginning with fiscal year 2019, and at least annually | ||||||
4 | thereafter, the State Treasurer shall report on his or her | ||||||
5 | utilization of minority-owned businesses, women-owned | ||||||
6 | businesses, businesses owned by a person with a disability, | ||||||
7 | qualified veteran-owned small businesses, or qualified | ||||||
8 | service-disabled veteran-owned small businesses. The report | ||||||
9 | shall be published on the State Treasurer's official website. | ||||||
10 | (f) The provisions of this Section take precedence over any | ||||||
11 | goals established under the Business Enterprise for | ||||||
12 | Minorities, Women, and Persons with Disabilities Act.
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13 | Section 99. Effective date. This Act takes effect upon | ||||||
14 | becoming law.
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