Full Text of HB4389 103rd General Assembly
HB4389 103RD GENERAL ASSEMBLY | | | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 HB4389 Introduced 1/16/2024, by Rep. Jay Hoffman SYNOPSIS AS INTRODUCED: | | 30 ILCS 235/1 | from Ch. 85, par. 901 |
| Amends the Public Funds Investment Act. Makes a technical change in a Section concerning definitions. |
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| | A BILL FOR |
| | | | HB4389 | | LRB103 36712 MXP 66822 b |
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| 1 | | AN ACT concerning finance. | 2 | | Be it enacted by the People of the State of Illinois, | 3 | | represented in the General Assembly: | 4 | | Section 5. The Public Funds Investment Act is amended by | 5 | | changing Section 1 as follows: | 6 | | (30 ILCS 235/1) (from Ch. 85, par. 901) | 7 | | Sec. 1. The The words "public funds", as used in this Act, | 8 | | mean current operating funds, special funds, interest and | 9 | | sinking funds, and funds of any kind or character belonging to | 10 | | or in the custody of any public agency. | 11 | | The words "public agency", as used in this Act, mean the | 12 | | State of Illinois, the various counties, townships, cities, | 13 | | towns, villages, school districts, educational service | 14 | | regions, special road districts, public water supply | 15 | | districts, fire protection districts, drainage districts, | 16 | | levee districts, sewer districts, housing authorities, the | 17 | | Illinois Bank Examiners' Education Foundation, the Chicago | 18 | | Park District, and all other political corporations or | 19 | | subdivisions of the State of Illinois, now or hereafter | 20 | | created, whether herein specifically mentioned or not. This | 21 | | Act does not apply to the Illinois Prepaid Tuition Trust Fund, | 22 | | private funds collected by the Illinois Conservation | 23 | | Foundation, or pension funds or retirement systems established |
| | | HB4389 | - 2 - | LRB103 36712 MXP 66822 b |
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| 1 | | under the Illinois Pension Code, except as otherwise provided | 2 | | in that Code. This Act does not apply to the Illinois State | 3 | | Treasurer, whose investment of State funds shall be governed | 4 | | by the Deposit of State Moneys Act. | 5 | | The words "governmental unit", as used in this Act, have | 6 | | the same meaning as in the Local Government Debt Reform Act. | 7 | | (Source: P.A. 102-297, eff. 8-6-21.) |
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