MAITLAND-TROTTER. (BIGGINS-BUGIELSKI-BRADY-CURRY,JULIE-MOFFITT) 30 ILCS 235/2.5 new Amends the Public Funds Investment Act. Requires public agencies to develop and implement an investment policy for public funds within their custody or control. Includes areas the policy must cover to address investment safety, liquidity, and rate of return. Requires that policies be in effect by January 1, 2000. Effective immediately. SENATE AMENDMENT NO. 1. Removes from the investment policy content requirements a policy regarding appropriate collateral and collateral custody requirements. Adds to the investment policy content requirements guidelines regarding collateral requirements, if any, for public funds deposited in a financial institution pursuant to the Public Funds Investment Act and, if applicable, guidelines for custody of that collateral. FISCAL NOTE (State Treasurer) No impact on the State's resources. STATE MANDATES ACT FISCAL NOTE SB 1555 creates a local gov't. organization and structure man- date which does not require reimbursement by the state. HOME RULE NOTE The bill fails to preempt home rule authority. 98-02-19 S FIRST READING 98-02-19 S REFERRED TO SENATE RULES COMMITTEE RULES 98-03-03 S ASSIGNED TO COMMITTEE STATE GOVERN 98-03-12 S AMENDMENT NO. 01-STATE GOVERN S 98-03-12 S ADOPTED 98-03-12 S DO PASS AS AMENDED 007-000-000 SGOA 98-03-12 S PLACED ON CALENDAR ORDER OF 2ND READING 98-03-24 98-03-26 S SECOND READING 98-03-26 S PLACED ON CALENDAR ORDER OF 3RD READING 98-03-31 98-04-01 S THIRD READING - PASSED 057-001-000 98-04-01 H ARRIVE IN HOUSE 98-04-01 H HOUSE SPONSOR BIGGINS 98-04-01 H FIRST READING 98-04-01 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-04-02 H ADDED AS A JOINT SPONSOR BUGIELSKI 98-04-02 H ADDED AS A JOINT SPONSOR BRADY 98-04-02 H ADDED AS A JOINT SPONSOR CURRY,JULIE 98-04-02 H ADDED AS A JOINT SPONSOR MOFFITT 98-04-14 H ASSIGNED TO COMMITTEE STATE GOV ADM 98-04-23 H DO PASS/SHORT DEBATE 013-000-000 HSGE 98-04-23 H PLACED CALENDAR 2ND READING-SHORT DEBATE 98-04-27 H FISCAL NOTE REQUESTED LANG 98-04-27 H STATE MANDATES FISCAL NOTE REQUESTED LANG 98-04-27 H HOME RULE NOTE REQUESTED LANG 98-04-27 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-04-29 H FISCAL NOTE FILED 98-04-29 H CALENDAR ORDER 2ND READING-SHORT DEBATE 98-05-06 H STATE MANDATES FISCAL NOTE FILED 98-05-06 H HOME RULE NOTE FILED 98-05-06 H SECOND READING-SHORT DEBATE 98-05-06 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 98-05-07 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 98-05-07 S PASSED BOTH HOUSES 98-06-05 S SENT TO THE GOVERNOR 98-07-31 S GOVERNOR APPROVED 98-07-31 S EFFECTIVE DATE 98-07-31 98-07-31 S PUBLIC ACT.............................. 90-0688 END OF INQUIRY Full Text Bill Summary