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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB0824
Introduced 2/7/2007, by Rep. Brandon W. Phelps SYNOPSIS AS INTRODUCED:
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Amends the State Treasurer Act. Requires the Treasurer to post information on his or her official website concerning the investment of public funds. Sets forth the required information. Does not require posting of information that is exempt from inspection and copying under the Freedom of Information Act.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB0824 |
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LRB095 10469 RCE 30684 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The State Treasurer Act is amended by adding |
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| Section 16.7 as follows:
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| (15 ILCS 505/16.7 new) |
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| Sec. 16.7. Investment transparency. |
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| (a) Purpose. The purpose of this Section is to provide for |
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| transparency in the investment of public funds by requiring the |
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| reporting of full and complete information regarding the |
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| investment moneys by the State Treasurer. |
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| (b) Online information concerning the investment of public |
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| funds. The State Treasurer shall make available on his or her |
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| official website, and update at least monthly, the following |
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| information concerning the investment of public funds: |
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| (1) the total amount of funds held by the State |
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| Treasurer; |
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| (2) the asset allocation for the investments made by |
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| the State Treasurer; |
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| (3) the benchmarks established by the State Treasurer; |
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| (4) current and historic return information; and |
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| (5) a detailed listing of the time deposit balances, |
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| including for each deposit, the name of the financial |