Bill Status of SB 1365   96th General Assembly

Short Description:  PINSTRIPE PATRONAGE ACT

Senate Sponsors
Sen. Pamela J. Althoff-Dan Duffy-Kyle McCarter and Bill Brady

Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
20 ILCS 3501/845-53 new
20 ILCS 3805/26.2 new
110 ILCS 947/145.2 new

Synopsis As Introduced
Creates the Pinstripe Patronage Transparency Act. Requires each State agency or office that issues bonds to compile a summary of all costs of issuance on each bond sale (including both costs paid out of proceeds and those paid out of appropriated funds) and post that summary on its website within 20 business days after the issuance of the bonds. The summary shall include, as applicable, the respective percentages of participation and compensation of each underwriter that is a member of the underwriting syndicate, legal counsel, financial advisors, and other professionals for the bond issue and an identification of all costs of issuance paid to minority owned businesses, female owned businesses, and businesses owned by persons with disabilities. Requires reporting. Amends the Illinois Finance Authority Act, Illinois Housing Development Act, and Higher Education Student Assistance Act to impose the same requirements. Effective immediately.

Actions 
DateChamber Action
  2/10/2009SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/10/2009SenateFirst Reading
  2/10/2009SenateReferred to Assignments
  2/18/2009SenateAssigned to Executive
  2/18/2009SenateAdded as Chief Co-Sponsor Sen. Dan Duffy
  2/27/2009SenateTo Executive Subcommittee on Ethics
  2/27/2009SenateAdded as Chief Co-Sponsor Sen. Kyle McCarter
  3/12/2009SenateHeld in Executive; Subcommittee on Ethics
  3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009
  4/2/2009SenateAdded as Co-Sponsor Sen. Bill Brady
  4/3/2009SenateRule 3-9(a) / Re-referred to Assignments
  1/12/2011SenateSession Sine Die

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