93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5947


 
Introduced 2/6/2004, by Tom Cross
 
SYNOPSIS AS INTRODUCED:
 		












15 ILCS 520/4
  from Ch. 130, par. 23









    Amends the Deposit of State Moneys Act.  Makes a technical change in a Section
concerning classes of depositaries.
















LRB093 19214 RCE 44949 b

















 


 


A BILL FOR









 











HB5947

LRB093 19214 RCE 44949 b






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    AN ACT concerning State moneys. 

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


 
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    Section 5. The Deposit of State Moneys Act is amended by 
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changing
Section 4 as follows:


 
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    (15 ILCS 520/4)  (from Ch. 130, par. 23)

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    Sec. 4. There shall be 2
two classes of depositaries, time 
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deposit
and demand
deposit, and separate proposals shall be 
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obtained for each class. In
calling for proposals the State 
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Treasurer shall indicate that separate
quotations of rates of 
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interest may be made upon such State moneys as shall
be 
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deposited in such bank or savings and loan association and 
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permitted
to remain without diminution for
30, 60 or 90 days, 
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or for longer periods.


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(Source: P.A. 83-541.)