Public Act 0273 95TH GENERAL ASSEMBLY

SB0321 Enrolled LRB095 10151 RCE 30365 b

Public Act 095-0273

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Treasurer Act is amended by adding Section 16.7 as follows:

(15 ILCS 505/16.7 new)

Sec. 16.7. Investment transparency.

(a) Purpose. The purpose of this Section is to provide for transparency in the investment of public funds by requiring the reporting of full and complete information regarding the investment moneys by the State Treasurer.

(b) Online information concerning the investment of public funds. The State Treasurer shall make available on his or her official website, and update at least monthly, the following information concerning the investment of public funds:

(1) the total amount of funds held by the State Treasurer;

(2) the asset allocation for the investments made by the State Treasurer;

(3) the benchmarks established by the State Treasurer;

(4) current and historic return information; and

(5) a detailed listing of the time deposit balances, including for each deposit, the name of the financial institution and the deposit rate.

(c) Information exempt from reporting requirement. Nothing in this Section requires the State Treasurer to make information available on the Internet that is exempt from inspection and copying under the Freedom of Information Act.

Effective Date: 1/1/2008