Full Text of HB1258 102nd General Assembly
HB1258 102ND GENERAL ASSEMBLY |
| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB1258 Introduced 2/17/2021, by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED: | | 30 ILCS 235/1 | from Ch. 85, par. 901 |
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Amends the Public Funds Investment Act. Makes a technical change in a Section concerning definitions.
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| | A BILL FOR |
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| | | HB1258 | | LRB102 03273 RJF 13286 b |
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| 1 | | AN ACT concerning finance.
| 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly:
| 4 | | Section 5. The Public Funds Investment Act is amended by | 5 | | changing Section 1 as follows:
| 6 | | (30 ILCS 235/1) (from Ch. 85, par. 901)
| 7 | | Sec. 1.
The
The words "public funds", as used in this Act, | 8 | | mean current
operating funds, special funds, interest and | 9 | | sinking funds, and funds of
any kind or character belonging to | 10 | | or in the custody of any public agency. | 11 | | The words "public agency", as used in this Act, mean the | 12 | | State of
Illinois, the various counties, townships, cities, | 13 | | towns, villages, school
districts, educational service | 14 | | regions, special road districts, public
water supply | 15 | | districts, fire protection districts, drainage districts, | 16 | | levee
districts, sewer districts, housing authorities, the | 17 | | Illinois Bank Examiners'
Education Foundation, the Chicago | 18 | | Park District, and all other political
corporations or | 19 | | subdivisions of the State of Illinois, now or hereafter
| 20 | | created, whether herein specifically mentioned or not.
This | 21 | | Act does not apply to the Illinois Prepaid Tuition Trust Fund,
| 22 | | private funds collected by the Illinois Conservation | 23 | | Foundation, or
pension
funds or retirement systems established
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| | | HB1258 | - 2 - | LRB102 03273 RJF 13286 b |
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| 1 | | under the Illinois Pension Code, except as otherwise provided | 2 | | in that Code.
| 3 | | The words "governmental unit", as used in this Act, have | 4 | | the same meaning as in the Local Government Debt Reform Act. | 5 | | (Source: P.A. 98-297, eff. 1-1-14.)
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