95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4948

 

Introduced , by Rep. Karen A. Yarbrough

 

SYNOPSIS AS INTRODUCED:
 
15 ILCS 520/4   from Ch. 130, par. 23

    Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning classes of depositaries.


LRB095 14895 RCE 40838 b

 

 

A BILL FOR

 

HB4948 LRB095 14895 RCE 40838 b

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 Deposit of State Moneys Act is amended by
5 changing Section 4 as follows:
 
6     (15 ILCS 520/4)  (from Ch. 130, par. 23)
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.)