HB1572 102ND GENERAL ASSEMBLY

LRB102 03603 RJF 13616 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1572

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

SYNOPSIS AS INTRODUCED:

15 ILCS 520/1.1

from Ch. 130, par. 20.1

Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Deposit of State Moneys Act is amended by changing Section 1.1 as follows:

(15 ILCS 520/1.1) (from Ch. 130, par. 20.1)

Sec. 1.1. When investing or depositing public funds, each custodian shall, to the the extent permitted by this Act and by the lawful and reasonable performance of his custodial duties, invest or deposit such funds with or in minority-owned financial institutions within this State.

(Source: P.A. 84-754.)