Senate Sponsors: GEO-KARIS. Short description: INTERGOVT COOPERATION-INVEST Synopsis of Bill as introduced: Amends the Intergovernmental Cooperation Act. Provides that risk management entities may invest up to 50% of the aggregate book value of all of their investments as measured at the time the investments are made. Authorizes the entities to invest in any combination of common and preferred stocks, convertible debt securities, and investment grade corporate bonds authorized for investment of trust funds provided that the stock or convertible debt meets certain requirements, commercial grade real estate located in Illinois if the real estate is necessary to provide offices for the day-to-day business operations of the intergovernmental risk management entity, and mutual funds or commingled funds that meet certain requirements. Removes the authorization for other types of investments. Provides that a risk management entity may not accept the deposit of public funds except for risk management purposes. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status