Bill Status of SB 2864   99th General Assembly

Short Description:  TREASURER-ST MONEY DEPOSIT ACT

Senate Sponsors
Sen. Jacqueline Y. Collins and Terry Link

House Sponsors
(Rep. Al Riley-Mary E. Flowers-La Shawn K. Ford-Emanuel Chris Welch)


Last Action  View All Actions

DateChamber Action
  8/19/2016SenatePublic Act . . . . . . . . . 99-0856

Statutes Amended In Order of Appearance
15 ILCS 520/18from Ch. 130, par. 37
15 ILCS 520/22.5from Ch. 130, par. 41a

Synopsis As Introduced
Amends the Deposit of State Moneys Act. Allows the State Treasurer to satisfy the requirement to make a monthly report to the Governor with a copy for public inspection by posting the monthly report on the Treasurer's official Internet website. Allows the Treasurer to, with the approval of the Governor, invest or reinvest (regardless of whether it is at a price exceeding par) any State money in the treasury that is not needed for current expenditures due or about to become due, or any money in the State Treasury that has been set aside. Provides that the Treasurer may, with the approval of the Governor, invest or reinvest any State money in the treasury that is not needed for current expenditures due or about to become due, or any money in the State Treasury that has been set aside, in obligations (currently, short-term obligations) of either corporations or limited liability companies organized in the United States, that have significant presence in this State, with assets exceeding $500,000,000 if, among other requirements, the obligations are rated at the time of purchase at one of the 3 highest classifications established by at least 2 standard rating services and mature not later than 5 years (currently, 270 days) from the date of purchase. Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the bill as introduced, and makes the following changes: modifies the list of subject matter under which the State Treasurer may, with the approval of the Governor, invest or reinvest any State money in the Treasury that is not needed for current expenditure, due or about to become due, or any money in the State Treasury that has been set aside and held for the payment of the principal of and the interest on any State bonds; removes changes made to a paragraph concerning short-term obligations, and adds language regarding the placement of a corporation or limited liability company on the list of restricted companies by the Illinois Investment Policy Board (currently, a corporation or limited liability company identified as a forbidden entity by an independent researching firm that specializes in global security risk that has been engaged by the State Treasurer); and restores language providing that the Treasurer may invest or reinvest, at a price not to exceed par, any State money in the treasury, under certain circumstances, in bonds issued by counties or municipal corporations of this State.

House Floor Amendment No. 3
Adds reference to:
15 ILCS 505/17from Ch. 130, par. 17

Replaces everything after the enacting clause. Reinserts the provisions of the bill as amended by House Committee Amendment No. 1, and adds language amending the State Treasurer Act to allow the Treasurer to establish and administer an E-Pay program, and promulgate rules and regulations for that program.

Actions 
DateChamber Action
  2/17/2016SenateFiled with Secretary by Sen. Jacqueline Y. Collins
  2/17/2016SenateFirst Reading
  2/17/2016SenateReferred to Assignments
  3/2/2016SenateAssigned to Financial Institutions
  3/9/2016SenateAdded as Co-Sponsor Sen. Terry Link
  3/9/2016SenateDo Pass Financial Institutions; 009-000-000
  3/9/2016SenatePlaced on Calendar Order of 2nd Reading March 10, 2016
  3/10/2016SenateSecond Reading
  3/10/2016SenatePlaced on Calendar Order of 3rd Reading March 16, 2016
  4/7/2016SenateThird Reading - Passed; 048-001-000
  4/7/2016HouseArrived in House
  4/8/2016HouseChief House Sponsor Rep. Al Riley
  4/12/2016HouseFirst Reading
  4/12/2016HouseReferred to Rules Committee
  4/18/2016HouseAssigned to Revenue & Finance Committee
  4/18/2016HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Al Riley
  4/18/2016HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/19/2016HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  4/27/2016HouseTo Finance Subcommittee
  4/28/2016HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Al Riley
  4/28/2016HouseHouse Committee Amendment No. 2 Referred to Rules Committee
  5/5/2016HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 005-000-000
  5/5/2016HouseRemains in Revenue & Finance Committee
  5/5/2016HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  5/5/2016HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 010-000-000
  5/5/2016HouseHouse Committee Amendment No. 2 Tabled Pursuant to Rule 40
  5/5/2016HousePlaced on Calendar 2nd Reading - Short Debate
  5/9/2016HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Al Riley
  5/9/2016HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  5/10/2016HouseSecond Reading - Short Debate
  5/10/2016HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/11/2016HouseHouse Floor Amendment No. 3 Rules Refers to Revenue & Finance Committee
  5/12/2016HouseHouse Floor Amendment No. 3 Recommends Be Adopted Revenue & Finance Committee; 013-000-000
  5/12/2016HouseRecalled to Second Reading - Short Debate
  5/12/2016HouseHouse Floor Amendment No. 3 Adopted
  5/12/2016HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/12/2016HouseThird Reading - Short Debate - Passed 115-000-000
  5/12/2016HouseAdded Alternate Chief Co-Sponsor Rep. Mary E. Flowers
  5/12/2016HouseAdded Alternate Chief Co-Sponsor Rep. La Shawn K. Ford
  5/12/2016HouseAdded Alternate Chief Co-Sponsor Rep. Emanuel Chris Welch
  5/12/2016SenateSecretary's Desk - Concurrence House Amendment(s) 1, 3
  5/12/2016SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 3 - May 17, 2016
  5/13/2016SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jacqueline Y. Collins
  5/13/2016SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/13/2016SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Jacqueline Y. Collins
  5/13/2016SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Assignments
  5/24/2016SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions
  5/24/2016SenateHouse Floor Amendment No. 3 Motion to Concur Assignments Referred to Financial Institutions
  5/26/2016SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 007-000-000
  5/26/2016SenateHouse Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Financial Institutions; 007-000-000
  5/31/2016SenateHouse Committee Amendment No. 1 Senate Concurs 058-001-000
  5/31/2016SenateHouse Floor Amendment No. 3 Senate Concurs 058-001-000
  5/31/2016SenateSenate Concurs
  5/31/2016SenatePassed Both Houses
  6/29/2016SenateSent to the Governor
  8/19/2016SenateGovernor Approved
  8/19/2016SenateEffective Date August 19, 2016
  8/19/2016SenatePublic Act . . . . . . . . . 99-0856

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