SCHOENBERG. 15 ILCS 520/22.5 from Ch. 130, par. 41a Amends the Deposit of State Moneys Act. Permits the State Treasurer to deposit uncommitted State funds at reduced interest rates in Illinois financial institutions that agree to make loans to units of local government for specified infrastructure projects. FISCAL NOTE (State Treasurer) HB 3030 will have a financial impact on the State's revenues. A program in the State which already provides low rate loans for wastewater treatment or sewer and water lines averages about $100,000,000 in new loans per year at 2.905%. For the program to be viable the Treasurer's Office would need to match that rate to the borrower. The decrease in revenue would be $6,430,000 per year for each $100,000,000 in out- standing loans. The Treasurer's Office cannot make an estimate of the activity of electrical system loans but based on cur- rent return rates, every $50,000,000 in loans outstanding would be an annual decrease in revenues of $3,215,000. FEB-27-2001 H FILED WITH CLERK FEB-27-2001 H FIRST READING FEB-27-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-28-2001 H ASSIGNED TO COMMITTEE CONST OFFICER MAR-12-2001 H FISCAL NOTE FILED MAR-12-2001 H COMMITTEE CONST OFFICER MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary