97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0385

 

Introduced 01/31/11, by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
15 ILCS 520/1.1  from Ch. 130, par. 20.1

    Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.


LRB097 03272 RLJ 43309 b

 

 

A BILL FOR

 

HB0385LRB097 03272 RLJ 43309 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Deposit of State Moneys Act is amended by
5changing Section 1.1 as follows:
 
6    (15 ILCS 520/1.1)  (from Ch. 130, par. 20.1)
7    Sec. 1.1. When investing or depositing public funds, each
8custodian shall, to the the extent permitted by this Act and by
9the lawful and reasonable performance of his custodial duties,
10invest or deposit such funds with or in minority-owned
11financial institutions within this State.
12(Source: P.A. 84-754.)