90th General Assembly
Summary of HB0201
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Senate Sponsors:

Short description: 
INTERGOVT COOPERATION-INVEST                                               

Synopsis of Bill as introduced:
        Amends the Intergovernmental Cooperation Act.  Provides that risk      
   management entities may invest up to 50% of the aggregate  book  value      
   of  all  of  their investments as measured at the time the investments      
   are made.  Authorizes the entities to invest  in  any  combination  of      
   common   and   preferred  stocks,  convertible  debt  securities,  and      
   investment grade corporate bonds authorized for  investment  of  trust      
   funds  provided  that  the  stock  or  convertible  debt meets certain      
   requirements, commercial grade real estate located in Illinois if  the      
   real  estate  is  necessary  to  provide  offices  for  the day-to-day      
   business operations of the intergovernmental risk  management  entity,      
   and  mutual  funds or commingled funds that meet certain requirements.      
   Removes the authorization for other  types  of  investments.  Provides      
   that  a  risk  management  entity may not accept the deposit of public      
   funds except for risk management purposes. Effective immediately.           
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


 Full Text  Bill Status