92nd General Assembly
Summary of HB0131
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House Sponsors:
SCHOENBERG-MATHIAS.

Short description: 
LOC GOVT DEBT-JOINT INVESTMENT                                             

Synopsis of Bill as introduced:
        Amends the Local Government Debt Reform Act.  Provides that  with      
   the   authorization   of  the  governing  body,  the  treasurer  of  a      
   governmental unit may join with the treasurers of  other  governmental      
   units  to  jointly  invest  funds  of which the treasurer has custody.      
   Effective immediately.                                                      
        HOUSE AMENDMENT NO. 1.                                                 
          Deletes reference to:                                                
          30 ILCS 350/12                                                       
          Adds reference to:                                                   
          30 ILCS 235/2                   from Ch. 85, par. 902                
        Deletes everything.  Amends  the  Public  Funds  Investment  Act.      
   Provides  that in addition to the authority available to invest funds,      
   a public agency may authorize the treasurer of that public  agency  to      
   join  with  the treasurers of other public agencies for the purpose of      
   jointly investing the funds of which the treasurer has custody and the      
   sole  legal  authority  to  invest.  Sets   requirements   for   joint      
   investments.  Provides  that  participants  in these joint investments      
   shall avail themselves of current training in public funds management.      
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status