HB4422 99TH GENERAL ASSEMBLY

LRB099 16413 NHT 40746 b

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.

FISCAL NOTE ACT MAY APPLY

STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT

A BILL FOR

AN ACT concerning education.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The University of Illinois Act is amended by adding Section 90 as follows:

(110 ILCS 305/90 new)

Sec. 90. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 10. The Southern Illinois University Management Act is amended by adding Section 75 as follows:

(110 ILCS 520/75 new)

Sec. 75. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 15. The Chicago State University Law is amended by adding Section 5-185 as follows:

(110 ILCS 660/5-185 new)

Sec. 5-185. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 20. The Eastern Illinois University Law is amended by adding Section 10-185 as follows:

(110 ILCS 665/10-185 new)

Sec. 10-185. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 25. The Governors State University Law is amended by adding Section 15-185 as follows:

(110 ILCS 670/15-185 new)

Sec. 15-185. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 30. The Illinois State University Law is amended by adding Section 20-190 as follows:

(110 ILCS 675/20-190 new)

Sec. 20-190. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 35. The Northeastern Illinois University Law is amended by adding Section 25-185 as follows:

(110 ILCS 680/25-185 new)

Sec. 25-185. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 40. The Northern Illinois University Law is amended by adding Section 30-195 as follows:

(110 ILCS 685/30-195 new)

Sec. 30-195. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 45. The Western Illinois University Law is amended by adding Section 35-190 as follows:

(110 ILCS 690/35-190 new)

Sec. 35-190. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, the University shall provide to the State agency awarding the grant a list of all University 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.

Section 50. The Public Community College Act is amended by adding Section 3-29.11 as follows:

(110 ILCS 805/3-29.11 new)

Sec. 3-29.11. Reporting of investment information. For any State grant requested after the effective date of this amendatory Act of the 99th General Assembly, a community college district shall provide to the State agency awarding the grant a list of all 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.

Section 99. Effective date. This Act takes effect upon becoming law.