- District 76
Amends the Deposit of State Moneys Act. Provides that the State Treasurer may allow an eligible financial institution (rather than a bank or savings and loan association) to become a State depository. Provides that State depositories may submit proposals or applications that may be approved or rejected by the State Treasurer. Provides that the State Treasurer may accept a proposal from an eligible financial institution which provides for a reduced rate of interest provided that the financial institution documents the use of deposited funds for specified economic development projects (currently, economic community development projects). Modifies provisions concerning proposals from an eligible financial institution that provides for interest earnings on deposits of State moneys to be held by the financial institution in a separate account that the State Treasurer may use to secure up to 10% of any specified home loan to Illinois citizens. Removes provisions concerning proposals for a reduced rate of interest with moneys to be expended for specified purposes. Makes conforming changes. Effective immediately.
No votes to display
Rule 19(b) / Re-referred to Rules Committee
House Committee Amendment No. 1 Filed with Clerk by Rep. Lance Yednock
House Committee Amendment No. 1 Referred to Rules Committee
Assigned to Revenue & Finance Committee
Referred to Rules Committee
Filed with the Clerk by Rep. Lance Yednock
|Bill Text Versions||Format|
|House Amendment 001|
Data on Open States is updated nightly from the official website of the Illinois General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.