Bill Status of SB2486 100th General Assembly
Short Description: PUBLIC FUNDS-CORPORATIONS
Sen. Emil Jones, III - Linda Holmes - Karen McConnaughay
|Local Government Hearing Feb 28 2018 9:00AM Capitol 409 Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Public Funds Investment Act. Provides that any public agency may invest any public funds in obligations (currently, short term obligations) of corporations organized in the United States with assets exceeding $500,000,000 if such obligations mature not later than 3 years (currently, 270 days) from the date of purchase, in addition to other criteria. Effective immediately.