SB1539 EngrossedLRB099 10029 JLK 30250 b

1    AN ACT concerning finance.
 
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
5adding Section 6.1 as follows:
 
6    (15 ILCS 520/6.1 new)
7    Sec. 6.1. Submission of proposals. Nothing in this Act
8shall be construed as prohibiting a bank, savings bank, or
9credit union from submitting a proposal to the State Treasurer
10on the basis that it does not offer a product or service in
11this State, unless a specific requirement is noted in the
12public solicitation that is related to the product or service
13being solicited. Nothing in this Section is intended to limit
14the State Treasurer's discretion in the selection of a bank,
15savings bank, or credit union, as provided in this Act.
 
16    Section 10. The Public Funds Investment Act is amended by
17adding Section 6.1 as follows:
 
18    (30 ILCS 235/6.1 new)
19    Sec. 6.1. Submission of proposals. Nothing in this Act
20shall be construed as prohibiting a bank, savings bank, or
21credit union from submitting a proposal to a public agency on

 

 

SB1539 Engrossed- 2 -LRB099 10029 JLK 30250 b

1the basis that it does not offer a product or service in this
2State, unless a specific requirement is noted in the public
3solicitation that is related to the product or service being
4solicited. Nothing in this Section is intended to limit a
5public agency's discretion in the selection of a bank, savings
6bank, or credit union as provided in this Act.
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.