Bill Text: IL SB2716 | 2017-2018 | 100th General Assembly | Introduced
Bill Title: Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning classes of depositaries.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2019-01-09 - Session Sine Die [SB2716 Detail]
Download: Illinois-2017-SB2716-Introduced.html
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1 | AN ACT concerning State 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 Deposit of State Moneys Act is amended by | |||||||||||||||||||
5 | changing Section 4 as follows:
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6 | (15 ILCS 520/4) (from Ch. 130, par. 23)
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7 | Sec. 4.
There shall be two classes of depositaries, time | |||||||||||||||||||
8 | deposit and
and demand
deposit, and separate proposals shall be | |||||||||||||||||||
9 | obtained for each class. In
calling for proposals the State | |||||||||||||||||||
10 | Treasurer shall indicate that separate
quotations of rates of | |||||||||||||||||||
11 | interest may be made upon such State moneys as shall
be | |||||||||||||||||||
12 | deposited in such bank or savings and loan association and | |||||||||||||||||||
13 | permitted
to remain without diminution for
30, 60 or 90 days, | |||||||||||||||||||
14 | or for longer periods. | |||||||||||||||||||
15 | (Source: P.A. 83-541.)
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