Illinois General Assembly - Bill Status for SB3093
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 Bill Status of SB3093  99th General Assembly


Senate Sponsors
Sen. Karen McConnaughay

House Sponsors
(Rep. Robert Martwick)

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 520/6.1 new
30 ILCS 235/2from Ch. 85, par. 902
30 ILCS 235/6.1 new

Synopsis As Introduced
Amends the Deposit of State Moneys Act. Provides that nothing in the Act shall be construed as prohibiting a bank, savings bank, or credit union from submitting a proposal to the State Treasurer on the basis that it does not offer a product or service in this State, unless a specific requirement is noted in the public solicitation that is related to the product or service being solicited. Provides that the amendatory Act is not intended to limit the State Treasurer's discretion in the selection of a bank, savings bank, or credit union, as provided in the Act. Amends the Public Funds Investment Act to make a similar change concerning the submission of proposals to a public agency. Provides that any public agency may invest any public funds in obligations (currently, short term obligations) of corporations organized in the United States with assets exceeding $500,000,000 if such obligations mature not later than 3 years (currently, 270 days) from the date of purchase, in addition to other criteria. Effective immediately.

DateChamber Action
  2/19/2016SenateFiled with Secretary by Sen. Karen McConnaughay
  2/19/2016SenateFirst Reading
  2/19/2016SenateReferred to Assignments
  3/8/2016SenateAssigned to Financial Institutions
  4/6/2016SenateDo Pass Financial Institutions; 008-000-000
  4/6/2016SenatePlaced on Calendar Order of 2nd Reading April 7, 2016
  4/19/2016SenateSecond Reading
  4/19/2016SenatePlaced on Calendar Order of 3rd Reading April 20, 2016
  4/21/2016SenateThird Reading - Passed; 056-000-000
  4/21/2016HouseArrived in House
  4/21/2016HouseChief House Sponsor Rep. Robert Martwick
  4/21/2016HouseFirst Reading
  4/21/2016HouseReferred to Rules Committee
  1/10/2017SenateSession Sine Die

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