WATSON-DUDYCZ-PHILIP-GEO-KARIS-SHAW. (MADIGAN,MJ-SCOTT) 15 ILCS 505/1 from Ch. 130, par. 1 Amends the State Treasurer Act. Makes a grammatical change in the Section regarding bond. HOUSE AMENDMENT NO. 1. (House recedes May 25, 1999) Adds an immediate effective date. CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the House recede from H-am 1. Recommends that the bill be further amended as follows: Deletes reference to: 15 ILCS 505/1 Adds reference to: 15 ILCS 505/16.5 new Deletes everything. Amends the State Treasurer Act. Provides that the Treasurer may create a College Savings Pool. Provides that the Treasurer may receive moneys paid into the pool by participants, hold the moneys in accounts on behalf of participants, and invest those moneys. Provides that new accounts in the Pool must be processed through participating financial institutions. Provides that the Treasurer may invest moneys in the College Savings Pool in the same manner, in the same types of investments, and subject to the same limitations provided for the investment of funds by the Illinois State Board of Investment. Provides that the Treasurer shall develop, publish, and implement an investment policy covering the investment of moneys in the College Savings Pool and shall make a percentage of each account available for investment in participating financial institutions doing business in the State. Provides that participants shall be required to use moneys distributed from the College Savings Pool for qualified expenses while attending an eligible educational institution at least half-time. Provides that the Treasurer shall provide the Illinois Student Assistance Commission an annual electronic report of participant accounts. Provides that the Treasurer shall adopt rules necessary for the efficient administration of the College Savings Pool. Provides that upon creating the College Savings Pool, the State Treasurer shall give bonds with 2 or more sufficient sureties that are payable to and for the benefit of the participants in the College Savings Pool, in the penal sum of $1,000,000, conditioned upon the faithful discharge of his or her duties in relation to the College Savings Pool. 99-02-25 S FIRST READING 99-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-03 S ASSIGNED TO COMMITTEE EXECUTIVE 99-03-11 S DO PASS 012-000-000 SEXC 99-03-11 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-16 99-03-16 S SECOND READING 99-03-16 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-17 99-03-23 S THIRD READING - PASSED 057-000-000 99-03-23 H ARRIVE IN HOUSE 99-03-23 H PLACED CALENDAR ORDER OF FIRST READING 99-03-25 H HOUSE SPONSOR MADIGAN,MJ 99-03-26 H FIRST READING 99-03-26 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-04-20 H ASSIGNED TO COMMITTEE EXECUTIVE 99-04-28 H DO PASS/STANDARD DEBATE 008-007-000 HEXC 99-04-28 H PLACED CAL 2ND READING-STANDARD DEBATE 99-05-07 H AMENDMENT NO. 01-MADIGAN,MJ 99-05-07 H AMENDMENT REFERRED TO HRUL 99-05-07 H CALENDAR ORDER 2ND READING-STANDARD DBT 99-05-11 H AMENDMENT NO. 01-MADIGAN,MJ 99-05-11 H RECOMMENDS BE ADOPTED HRUL/003-002-000 99-05-11 H ADDED AS A JOINT SPONSOR SCOTT 99-05-11 H SECOND READING-STANDARD DEBATE 99-05-11 H AMENDMENT NO. 01-MADIGAN,MJ 99-05-11 H ADOPTED 99-05-11 H HELD CAL ORDER 2ND READING-STANDARD DBT 99-05-14 H PLCD CAL ORDER 3RD READING-STNDRD DEBATE 99-05-14 H THIRD READING/STANDARD DEBATE/PASS 105-010-000 99-05-14 S SECRETARYS DESK - CONCURRENCE 01 99-05-17 S ADDED AS A CHIEF CO-SPONSOR GEO-KARIS 99-05-17 S MOTION NON-CONCUR - HOUSE AMENDMENT NO 01-DUDYCZ 99-05-17 S SEN NON-CONCURS IN HSE AMENDMENTS (NO.) 01 99-05-17 H ARRIVE IN HOUSE 99-05-17 H PLACED CALENDAR ORDER NON-CONCURRENCE 01 99-05-19 H MOTION REFUSE RECEDE - HSE AMEND NO 01/SCOTT 99-05-19 H CALENDAR ORDER OF NON-CONCURRENCE 01 99-05-20 H HSE REFUSES TO RECEDE FROM AMENDMENT NO 01 99-05-20 H HSE REQUESTS CONFERENCE COMMITTEE 1ST 99-05-20 H HSE CONFERENCE COMMITTEE APPOINTED 1ST/SCOTT, 99-05-20 H MADIGAN,MJ, CURRIE 99-05-20 H TENHOUSE & WOJCIK 99-05-20 S SPONSOR REMOVED DUDYCZ 99-05-20 S CHIEF SPONSOR CHANGED TO WATSON 99-05-20 S CHIEF CO-SPONSOR CHANGED TO DUDYCZ 99-05-20 S SEN ACCEDE REQUEST CONFERENCE COMMITTEE 1ST 99-05-21 S SEN CONFERENCE COMMITTEE APPOINTED 1ST/WATSON, 99-05-21 S KLEMM, PETKA, 99-05-21 S SHAW, DEMUZIO 99-05-24 S FILED WITH SECRETARY 99-05-24 S CONFERENCE COMMITTEE REPORT 1ST/WATSON 99-05-24 S CONFERENCE COMMITTEE REPORT REFERRED TO SRUL 99-05-24 S CONFERENCE COMMITTEE REPORT 1ST/WATSON 99-05-24 S RULES REFERS TO SEXC 99-05-24 S CONFERENCE COMMITTEE REPORT 1ST/WATSON 99-05-24 S BE APPROVED FOR CONSIDERATION SEXC/012-000-000 99-05-24 S ADDED AS A CHIEF CO-SPONSOR SHAW 99-05-24 S SEN CONFERENCE COMMITTEE REPORT SUBMITED 1ST/WATSON 99-05-24 S SENATE ADOPTED CONFERENCE REPORT 1ST/059-000-000 99-05-25 H HSE CONFERENCE COMMITTEE REPORT SUBMITED 1ST/MADIGAN,MJ 99-05-25 H CONFERENCE COMMITTEE REPORT REFERRED TO HRUL 99-05-25 H RECOMMENDS BE ADOPTED 1ST/003-002-000 99-05-25 H HOUSE ADOPTED CONFERENCE REPORT 1ST/114-000-000 99-05-25 S BOTH HOUSES ADOPTED CONFERENCE REPORT 1ST 99-05-25 S PASSED BOTH HOUSES 99-06-23 S SENT TO THE GOVERNOR 99-08-17 S GOVERNOR APPROVED 99-08-17 S EFFECTIVE DATE 00-01-01 99-08-17 S PUBLIC ACT.............................. 91-0607 END OF INQUIRY Full Text Bill Summary