Bill Status of SB 2014   94th General Assembly

Short Description:  PUB FUNDS INVEST- SHORT TERM

Senate Sponsors
Sen. Bill Brady

Last Action  View All Actions

DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 235/2from Ch. 85, par. 902

Synopsis As Introduced
Amends the Public Funds Investment Act. Allows investment in (i) short term obligations of certain corporations if the purchases do not exceed 10% of the corporation's outstanding obligations "at the time of the purchase of the obligations" and (ii) certain money market mutual funds if the portfolio of the fund is limited to certain mutual bonds. Allows investment in any obligations of the Federal National Mortgage Association or certain savings and loan associations (now, only short term discount obligations). Effective immediately.

Actions 
DateChamber Action
  2/25/2005SenateFiled with Secretary by Sen. Bill Brady
  2/25/2005SenateFirst Reading
  2/25/2005SenateReferred to Rules
  1/9/2007SenateSession Sine Die

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