093_HB3142

 
                                     LRB093 09498 SJM 09733 b

 1        AN ACT concerning public funds.

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

 4        Section  1.  Short  title.  This  Act may be cited as the
 5    Accountability for the Investment of Public Funds Act.

 6        Section 5. Definitions. As used in this Act:
 7        "Public funds" means  current  operating  funds,  special
 8    funds,  interest  and sinking funds, and funds of any kind or
 9    character belonging to or in the custody of any State agency.
10        "State agency"  means  those  entities  included  in  the
11    definition of "State agencies" in the Illinois State Auditing
12    Act.

13        Section  10.  Online information concerning investment of
14    public funds. Each State agency shall make available  on  the
15    Internet  sufficient information concerning the investment of
16    any public funds held by that State  agency  to  identify  at
17    least the following:
18             (1)  The  amount of funds held by that agency on the
19        last day of the most recent month.
20             (2) Where the funds were held,  for  example:  in  a
21        special  fund, by a financial institution, in a brokerage
22        account, in bonds, or in other investment vehicles.
23             (3) Any other relevant information that will apprise
24        the citizens of the State of the status of funds held  by
25        the State agency.