|
| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB0576 Introduced , by Rep. Michael J. Madigan 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.
|
| |
| | A BILL FOR |
|
|
| | HB0576 | | LRB099 04425 JLK 24453 b |
|
|
| 1 | | AN ACT concerning State government.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Deposit of State Moneys Act is amended by |
| 5 | | changing Section 4 as follows:
|
| 6 | | (15 ILCS 520/4) (from Ch. 130, par. 23)
|
| 7 | | Sec. 4.
There shall be two classes of depositaries, time |
| 8 | | deposit and
and demand
deposit, and separate proposals shall be |
| 9 | | obtained for each class. In
calling for proposals the State |
| 10 | | Treasurer shall indicate that separate
quotations of rates of |
| 11 | | interest may be made upon such State moneys as shall
be |
| 12 | | deposited in such bank or savings and loan association and |
| 13 | | permitted
to remain without diminution for
30, 60 or 90 days, |
| 14 | | or for longer periods. |
| 15 | | (Source: P.A. 83-541.)
|