Illinois General Assembly - Bill Status for SB0273
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 Bill Status of SB0273  102nd General Assembly


Short Description:  PUBLIC FUNDS-AUTHORIZED INVEST

Senate Sponsors
Sen. Donald P. DeWitte and Win Stoller

House Sponsors
(Rep. Marcus C. Evans, Jr.)

Last Action
DateChamber Action
  5/27/2021SenatePassed Both Houses

Statutes Amended In Order of Appearance
30 ILCS 235/2from Ch. 85, par. 902


Synopsis As Introduced
Amends the Public Funds Investment Act. Authorizes public agencies to invest public funds in obligations of corporations organized in the United States with assets exceeding $500,000,000 if, among other requirements, no more than two-thirds (currently, one-third) of the public agency's funds are invested in obligations of corporations. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Public Funds Investment Act. Provides that no more than one-third of a public agency's funds may be invested in short-term obligations of corporations that mature not later than 270 days (currently, 3 years) from the date of purchase. Provides that no more than one-third of a public agency's funds may be invested in obligations of corporations that mature more than 270 days but less than 3 years from the date of purchase. Effective immediately.

Actions 
DateChamber Action
  2/19/2021SenateFiled with Secretary by Sen. Donald P. DeWitte
  2/19/2021SenateFirst Reading
  2/19/2021SenateReferred to Assignments
  2/24/2021SenateAssigned to Local Government
  3/16/2021SenateAdded as Co-Sponsor Sen. Win Stoller
  3/16/2021SenatePostponed - Local Government
  4/16/2021SenateRule 2-10 Committee Deadline Established As April 23, 2021
  4/19/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Donald P. DeWitte
  4/19/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/20/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Local Government
  4/20/2021SenateSenate Committee Amendment No. 1 Adopted
  4/20/2021SenateDo Pass as Amended Local Government; 007-000-000
  4/20/2021SenatePlaced on Calendar Order of 2nd Reading April 21, 2021
  4/21/2021SenateSecond Reading
  4/21/2021SenatePlaced on Calendar Order of 3rd Reading ** April 22, 2021
  4/23/2021SenateThird Reading - Passed; 058-000-000
  4/26/2021HouseArrived in House
  4/27/2021HouseChief House Sponsor Rep. Marcus C. Evans, Jr.
  4/28/2021HouseFirst Reading
  4/28/2021HouseReferred to Rules Committee
  5/4/2021HouseAssigned to State Government Administration Committee
  5/12/2021HouseDo Pass / Consent Calendar State Government Administration Committee; 008-000-000
  5/13/2021HousePlaced on Calendar 2nd Reading - Consent Calendar
  5/24/2021HouseSecond Reading - Consent Calendar
  5/24/2021HouseHeld on Calendar Order of Second Reading - Consent Calendar
  5/25/2021HousePlaced on Calendar Order of 3rd Reading - Consent Calendar
  5/26/2021HouseThird Reading - Consent Calendar - First Day
  5/27/2021HouseThird Reading - Consent Calendar - Passed 116-000-000
  5/27/2021SenatePassed Both Houses

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