| Date | Chamber | Action |
| 1/13/2009 | House | Session Sine Die |
| New Act |
| Judicial Note, House Amendment No. 1 (Admin Office of the Illinois Courts) | |
| Based on a review of the bill, it has been determined that HB 5755 (H-AM 1) would neither increase nor decrease the number of judges needed in the State. |
| Housing Affordability Impact Note, House Amendment No. 1 (Housing Development Authority) | |
| This legislation will have no effect on constructing, purchasing, owning, or selling a single-family residence. |
| Correctional Note, House Amendment No. 1 (Dept of Corrections) | |
| HB 5755 (H-AM 1) has no fiscal impact on the Department of Corrections. |
| Housing Affordability Impact Note, House Amendment No. 1 (Housing Development Authority) | |
| This legislation will have no effect on constructing, purchasing, owning, or selling a single-family residence. |
| Pension Note, House Amendment No. 1 (Government Forecasting & Accountability) | |
| HB 5755 (H-AM 1) will not impact any public pension fund or retirement system in Illinois. |
| State Debt Impact Note, House Amendment No. 1 (Government Forecasting & Accountability) | |
| HB 5755 (H-AM 1) would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness. |
| Fiscal Note (Office of the Treasurer) | |
| HB 5755 creates the following specific fiscal consequences and gives rise to some unanswered questions for the Office of the Illinois State Treasurer: (1) The office will be required to make information system changes to accommodate the new need to monitor the total assets of an institution. Currently, the Office of the Treasurer monitors the total deposits of each institution for compliance with the Office's written investment policy. The policy allows the Office to have up to 15% of State deposits as a ratio to the total institutions deposits however, only 10% or $100,000,000 whichever is less can be market rate deposits. Estimated expenses of $12,000.00 include programming time of 80 hours at a cost of $150 per hour. (2) If the institutions qualifying for this program are currently holding State deposits, they would be able to utilize the limited amount available to bring them to the 10% cap as proposed in this bill. (3) If the institution's deposits increase to greater than $500,000,000 while they are in the program, does the Treasurer's Office have to take any action? If yes, the Treasurer may have to withdraw deposits from the institution in order to remain in compliance with the program. (4) If this program is based on a below market interest rate, the State general portfolio will experience a loss of interest equal to the difference between market and below market rates, multiplied by up to $1 billion invested. For instance, if market rates are 3.5%, and the below market program rate is 2%, the loss would be 1.5% x $1 billion = $15 million. (5) It appears that the Treasurer's Office will be responsible for various compliance requirements. Compliance checks that would require oversight by the Treasurer's Office include: the credit line for each organization, the use of the funds from the State deposit and the authorization criteria to participate in the program. |
| Balanced Budget Note, House Amendment No. 1 (Office of Management and Budget) | |
| HB 5755 (H-AM 1), if enacted into law, will add $1,000,000,000 to the current Fiscal Year 2008 budget deficit of approximately $750,000,000. |
| Home Rule Note, House Amendment No. 1 (Dept. of Commerce & Economic Opportunity) | |
| This legislation does not pre-empt home rule authority. |
| Date | Chamber | Action | 2/15/2008 | House | Filed with the Clerk by Rep. Constance A. Howard | 2/15/2008 | House | First Reading | 2/15/2008 | House | Referred to Rules Committee | 3/11/2008 | House | Assigned to State Government Administration Committee | 3/11/2008 | House | Motion to Suspend Rule 25 - Prevailed | 3/12/2008 | House | House Amendment No. 1 Filed with Clerk by State Government Administration Committee | 3/12/2008 | House | House Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote | 3/12/2008 | House | Do Pass as Amended / Short Debate State Government Administration Committee; 007-004-001 | 3/13/2008 | House | Placed on Calendar 2nd Reading - Short Debate | 3/21/2008 | House | House Amendment No. 1 Judicial Note Filed as Amended | 3/25/2008 | House | House Amendment No. 1 Housing Affordability Impact Note Filed as Amended | 3/25/2008 | House | House Amendment No. 1 Correctional Note Filed as Amended | 3/27/2008 | House | House Amendment No. 1 Housing Affordability Impact Note Filed as Amended | 3/28/2008 | House | House Amendment No. 1 Pension Note Filed as Amended | 3/28/2008 | House | House Amendment No. 1 State Debt Impact Note Filed as Amended | 3/31/2008 | House | Fiscal Note Filed | 4/3/2008 | House | House Amendment No. 1 Balanced Budget Note Filed as Amended | 4/3/2008 | House | House Amendment No. 1 Home Rule Note Filed as Amended | 4/18/2008 | House | Final Action Deadline Extended-9(b) May 9, 2008 | 5/9/2008 | House | Final Action Deadline Extended-9(b) May 23, 2008 | 5/23/2008 | House | Final Action Deadline Extended-9(b) May 31, 2008 | 5/29/2008 | House | Second Reading - Short Debate | 5/29/2008 | House | Held on Calendar Order of Second Reading - Short Debate | 5/31/2008 | House | Rule 19(a) / Re-referred to Rules Committee | 1/13/2009 | House | Session Sine Die |
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