92nd General Assembly
Summary of SB0961
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Senate Sponsors:
WALSH,T.

House Sponsors:
MOORE

Short description: 
LOC GOV DEBT-QUALFIED GOV UNIT                                             

Synopsis of Bill as introduced:
        Amends the Local Government Debt Reform Act.  Authorizes the  use      
   of escrow accounts established at a trust company or bank having trust      
   powers by qualified governmental units (now governmental units may use      
   escrow  accounts  established  by  the  governmental  units).  Defines      
   "qualified governmental unit".  Effective immediately.                      
        SENATE AMENDMENT NO. 1.                                                
        Further amends the Local Government  Debt  Reform  Act.   In  the      
   definition   of   "qualified  governmental  unit"  provides  that  the      
   governmental unit must have received the  Certificate  of  Achievement      
   for  Excellence  in  Financial  Reporting  from the Government Finance      
   Officers Association or the equivalent award from the  Association  of      
   School  Business  Officials  International  (instead  of  the Illinois      
   Association of School Business Officials (IASBO)). Makes  a  technical      
   change.                                                                     
 
Last action on Bill: PUBLIC ACT.............................. 92-0078

   Last action date: JUL-12-2001

           Location: Senate

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


   END OF INQUIRY 



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