|
|
|
94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006 SB2761
Introduced 1/20/2006, by Sen. Adeline Jay Geo-Karis SYNOPSIS AS INTRODUCED: |
|
15 ILCS 505/17 |
from Ch. 130, par. 17 |
|
Amends the State Treasurer Act concerning the Public Treasurers' Investment Pool. Provides that a "public agency" for purposes of the Pool includes (i) any not-for-profit corporation exempt under the Internal Revenue Code that is created by a public agency for the private fundraising activities of that agency and (ii) associations of public agencies. Effective immediately.
|
| |
|
|
| FISCAL NOTE ACT MAY APPLY | |
|
|
A BILL FOR
|
|
|
|
|
SB2761 |
|
LRB094 18671 RCE 54031 b |
|
|
1 |
| AN ACT concerning State government.
|
2 |
| Be it enacted by the People of the State of Illinois,
|
3 |
| represented in the General Assembly:
|
4 |
| Section 5. The State Treasurer Act is amended by changing |
5 |
| Section 17 as follows:
|
6 |
| (15 ILCS 505/17) (from Ch. 130, par. 17)
|
7 |
| Sec. 17. The State Treasurer may establish and administer a |
8 |
| Public
Treasurers'
Investment Pool to supplement
and enhance |
9 |
| the investment opportunities otherwise available to other
|
10 |
| custodians
of public funds for public agencies
in this State.
|
11 |
| The Treasurer, in administering the Public Treasurers' |
12 |
| Investment Pool,
may receive public
funds paid into the pool by |
13 |
| any other custodian of such funds and may serve
as the fiscal |
14 |
| agent of
that custodian of public funds for the purpose of |
15 |
| holding and investing those
funds.
|
16 |
| The Treasurer may invest the public funds constituting the |
17 |
| Public Treasurers'
Investment
Pool in the same manner, in the |
18 |
| same types of investments and subject to
the same limitations
|
19 |
| provided for the investment of funds in the State Treasury. The |
20 |
| Treasurer
shall develop, publish, and implement an investment |
21 |
| policy covering the
management of funds in the Public |
22 |
| Treasurers' Investment Pool. The policy
shall be published at |
23 |
| least once each year in at least one newspaper of general
|
24 |
| circulation in both Springfield and Chicago, and each year as |
25 |
| part of the audit
of the Public Treasurers' Investment Pool by |
26 |
| the Auditor General, which shall
be distributed to all |
27 |
| participants. The Treasurer shall notify all Public
|
28 |
| Treasurers' Investment Pool participants in writing, and the |
29 |
| Treasurer shall
publish in at least one newspaper of general |
30 |
| circulation in both Springfield
and Chicago any changes to a |
31 |
| previously published investment policy at least 30
calendar |
32 |
| days before implementing the policy. Any such investment policy
|