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| 1 | AN ACT concerning State government. | ||||||
| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly: | ||||||
| 4 | Section 5. The State Treasurer Act is amended by changing | ||||||
| 5 | Section 10 as follows: | ||||||
| 6 | (15 ILCS 505/10) (from Ch. 130, par. 10) | ||||||
| 7 | Sec. 10. Direct deposit of State payments. The Treasurer | ||||||
| 8 | shall not pay out of the treasury any money, except upon the | ||||||
| 9 | warrant of the State Comptroller, provided that warrants shall | ||||||
| 10 | not be required where payments are made by the Comptroller: | ||||||
| 11 | (1) to providers of community-based mental health | ||||||
| 12 | services; , | ||||||
| 13 | (2) to persons receiving benefit payments under the | ||||||
| 14 | State pension systems; , | ||||||
| 15 | (3) to individuals receiving assistance under Article | ||||||
| 16 | III of the Illinois Public Aid Code; , or | ||||||
| 17 | (4) to a public agency as defined in the Public Funds | ||||||
| 18 | Investment Act; or , | ||||||
| 19 | (5) by direct deposit or by the electronic direct | ||||||
| 20 | deposit or transfer of funds. | ||||||
| 21 | These payments, however, shall only be made upon the | ||||||
| 22 | approval of the Treasurer, in the form and method provided by | ||||||
| 23 | the rules or regulations adopted under Section 9.03 of the | ||||||
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| 1 | State Comptroller Act. | ||||||
| 2 | (Source: P.A. 87-132; 87-653; 87-685; 87-751; 87-895; 88-643, | ||||||
| 3 | eff. 1-1-95.) | ||||||
| 4 | Section 10. The Accountability for the Investment of | ||||||
| 5 | Public Funds Act is amended by changing Section 10 as follows: | ||||||
| 6 | (30 ILCS 237/10) | ||||||
| 7 | Sec. 10. Online information concerning investment of | ||||||
| 8 | public funds. Each State agency shall make available on the | ||||||
| 9 | Internet, and update at least monthly, no later than the end of | ||||||
| 10 | each month by the 15th of the month, sufficient information | ||||||
| 11 | concerning the investment of any public funds held by that | ||||||
| 12 | State agency to identify the following: | ||||||
| 13 | (1) the amount of funds held by that agency on the last | ||||||
| 14 | day of the preceding month or the average daily balance | ||||||
| 15 | for the preceding month; | ||||||
| 16 | (2) the total monthly investment income and yield for | ||||||
| 17 | all funds invested by that agency; | ||||||
| 18 | (3) the asset allocation of the investments made by | ||||||
| 19 | that agency; and | ||||||
| 20 | (4) a complete listing of all approved depository | ||||||
| 21 | institutions, commercial paper issuers, and broker-dealers | ||||||
| 22 | approved to do business with that agency. | ||||||
| 23 | (Source: P.A. 93-499, eff. 1-1-04.) | ||||||
| 24 | Section 99. Effective date. This Act takes effect upon | ||||||
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| 1 | becoming law. | ||||||