99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB4422

 

Introduced , by Rep. Dwight Kay

 

SYNOPSIS AS INTRODUCED:
 
110 ILCS 305/90 new
110 ILCS 520/75 new
110 ILCS 660/5-185 new
110 ILCS 665/10-185 new
110 ILCS 670/15-185 new
110 ILCS 675/20-190 new
110 ILCS 680/25-185 new
110 ILCS 685/30-195 new
110 ILCS 690/35-190 new
110 ILCS 805/3-29.11 new

    Amends various Acts relating to the governance of public universities and community colleges in Illinois. For any State grant requested after the effective date of the amendatory Act, requires a public university or community college district to provide to the State agency awarding the grant a list of all university or district funds from this State that are invested, excluding endowment funds; the financial status of these investment funds; where the investment funds are held; the amount in fees charged by those holding the investment funds; and who audits the investment funds. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT

 

 

A BILL FOR

 

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1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The University of Illinois Act is amended by
5adding Section 90 as follows:
 
6    (110 ILCS 305/90 new)
7    Sec. 90. Reporting of investment information. For any State
8grant requested after the effective date of this amendatory Act
9of the 99th General Assembly, the University shall provide to
10the State agency awarding the grant a list of all University
11funds from this State that are invested, excluding endowment
12funds; the financial status of these investment funds; where
13the investment funds are held; the amount in fees charged by
14those holding the investment funds; and who audits the
15investment funds.
 
16    Section 10. The Southern Illinois University Management
17Act is amended by adding Section 75 as follows:
 
18    (110 ILCS 520/75 new)
19    Sec. 75. Reporting of investment information. For any State
20grant requested after the effective date of this amendatory Act
21of the 99th General Assembly, the University shall provide to

 

 

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1the State agency awarding the grant a list of all University
2funds from this State that are invested, excluding endowment
3funds; the financial status of these investment funds; where
4the investment funds are held; the amount in fees charged by
5those holding the investment funds; and who audits the
6investment funds.
 
7    Section 15. The Chicago State University Law is amended by
8adding Section 5-185 as follows:
 
9    (110 ILCS 660/5-185 new)
10    Sec. 5-185. Reporting of investment information. For any
11State grant requested after the effective date of this
12amendatory Act of the 99th General Assembly, the University
13shall provide to the State agency awarding the grant a list of
14all University funds from this State that are invested,
15excluding endowment funds; the financial status of these
16investment funds; where the investment funds are held; the
17amount in fees charged by those holding the investment funds;
18and who audits the investment funds.
 
19    Section 20. The Eastern Illinois University Law is amended
20by adding Section 10-185 as follows:
 
21    (110 ILCS 665/10-185 new)
22    Sec. 10-185. Reporting of investment information. For any

 

 

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1State grant requested after the effective date of this
2amendatory Act of the 99th General Assembly, the University
3shall provide to the State agency awarding the grant a list of
4all University funds from this State that are invested,
5excluding endowment funds; the financial status of these
6investment funds; where the investment funds are held; the
7amount in fees charged by those holding the investment funds;
8and who audits the investment funds.
 
9    Section 25. The Governors State University Law is amended
10by adding Section 15-185 as follows:
 
11    (110 ILCS 670/15-185 new)
12    Sec. 15-185. Reporting of investment information. For any
13State grant requested after the effective date of this
14amendatory Act of the 99th General Assembly, the University
15shall provide to the State agency awarding the grant a list of
16all University funds from this State that are invested,
17excluding endowment funds; the financial status of these
18investment funds; where the investment funds are held; the
19amount in fees charged by those holding the investment funds;
20and who audits the investment funds.
 
21    Section 30. The Illinois State University Law is amended by
22adding Section 20-190 as follows:
 

 

 

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1    (110 ILCS 675/20-190 new)
2    Sec. 20-190. Reporting of investment information. For any
3State grant requested after the effective date of this
4amendatory Act of the 99th General Assembly, the University
5shall provide to the State agency awarding the grant a list of
6all University funds from this State that are invested,
7excluding endowment funds; the financial status of these
8investment funds; where the investment funds are held; the
9amount in fees charged by those holding the investment funds;
10and who audits the investment funds.
 
11    Section 35. The Northeastern Illinois University Law is
12amended by adding Section 25-185 as follows:
 
13    (110 ILCS 680/25-185 new)
14    Sec. 25-185. Reporting of investment information. For any
15State grant requested after the effective date of this
16amendatory Act of the 99th General Assembly, the University
17shall provide to the State agency awarding the grant a list of
18all University funds from this State that are invested,
19excluding endowment funds; the financial status of these
20investment funds; where the investment funds are held; the
21amount in fees charged by those holding the investment funds;
22and who audits the investment funds.
 
23    Section 40. The Northern Illinois University Law is amended

 

 

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1by adding Section 30-195 as follows:
 
2    (110 ILCS 685/30-195 new)
3    Sec. 30-195. Reporting of investment information. For any
4State grant requested after the effective date of this
5amendatory Act of the 99th General Assembly, the University
6shall provide to the State agency awarding the grant a list of
7all University funds from this State that are invested,
8excluding endowment funds; the financial status of these
9investment funds; where the investment funds are held; the
10amount in fees charged by those holding the investment funds;
11and who audits the investment funds.
 
12    Section 45. The Western Illinois University Law is amended
13by adding Section 35-190 as follows:
 
14    (110 ILCS 690/35-190 new)
15    Sec. 35-190. Reporting of investment information. For any
16State grant requested after the effective date of this
17amendatory Act of the 99th General Assembly, the University
18shall provide to the State agency awarding the grant a list of
19all University funds from this State that are invested,
20excluding endowment funds; the financial status of these
21investment funds; where the investment funds are held; the
22amount in fees charged by those holding the investment funds;
23and who audits the investment funds.
 

 

 

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1    Section 50. The Public Community College Act is amended by
2adding Section 3-29.11 as follows:
 
3    (110 ILCS 805/3-29.11 new)
4    Sec. 3-29.11. Reporting of investment information. For any
5State grant requested after the effective date of this
6amendatory Act of the 99th General Assembly, a community
7college district shall provide to the State agency awarding the
8grant a list of all district funds from this State that are
9invested, excluding endowment funds; the financial status of
10these investment funds; where the investment funds are held;
11the amount in fees charged by those holding the investment
12funds; and who audits the investment funds.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.