BURKE-BLACK-LOPEZ-COULSON, CURRY,JULIE, POE, GILES, REITZ, BRADLEY, BROSNAHAN, WOJCIK, MCCARTHY, SCULLY AND FOWLER. (MYERS,J-BOMKE-DELEO-DUDYCZ-BURZYNSKI) 15 ILCS 505/17.1 from Ch. 130, par. 17.1 Amends the State Treasurer Act concerning rules. Makes technical changes. HOUSE AMENDMENT NO. 1. Deletes reference to: 15 ILCS 505/17.1 Adds reference to: 15 ILCS 505/16.5 new Deletes everything. Amends the State Treasurer Act. Provides that the Treasurer may create a College Savings Fund. Provides that the Treasurer may receive moneys from Illinois residents for deposit into the fund, and hold the moneys in individual college savings accounts on behalf of Illinois residents. Provides that the Treasurer may invest individual college savings accounts in the same manner, in the same types of investments, and subject to the same limiations pro- vided for the investment of funds by the Illinois State Board of In- vestment. Provides that the Treasurer shall develop, publish, and im- plement an investment policy covering the management of the individual college savings accounts within the College Savings Fund. Provides that upon creating a Fund, the State Treasurer shall give bond with 2 or more sufficient sureties that are payable to and for the benefit of of the participants in the College Savings Fund, in the penal sum of $1,000,000, conditioned upon the faithful discharge of his or her duties in relation to the Fund. Effective immediately. BALANCED BUDGET NOTE, H-AM 1 (Bureau of the Budget) The bill is not a supplemental appropriation; the Balanced Budget Note Act is inapplicable. FISCAL NOTE, H-AM 1 (State Treasurer) HB851 will have no impact on the State's resources this FY. SENATE AMENDMENT NO. 1. Deletes reference to: 15 ILCS 505/16.5 new Adds reference to: 15 ILCS 505/16.5 Deletes everything. Amends the State Treasurer Act. Provides that distributions from a college savings pool may be made directly to a designated beneficiary so long as made in a manner that is permissible under Section 529 of the Internal Revenue Code. Effective immediately. 99-02-10 H FIRST READING 99-02-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-17 H ASSIGNED TO COMMITTEE EXECUTIVE 99-02-19 H ADDED AS A JOINT SPONSOR LOPEZ 99-02-22 H JOINT-SPONSOR CHANGED TO BLACK 99-02-23 H ADDED AS A CO-SPONSOR CURRY,JULIE 99-02-23 H ADDED AS A CO-SPONSOR POE 99-02-25 H FISCAL NOTE REQUESTED POE 99-02-25 H BALANCED BUDGET NOTE REQUESTED POE 99-02-25 H AMENDMENT NO. 01-EXECUTIVE H 99-02-25 H ADOPTED 99-02-25 H DO PASS AMENDED/SHORT DEBATE 015-000-000 HEXC 99-02-25 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-02-25 H JOINT-SPONSOR CHANGED TO COULSON 99-03-02 H BALANCED BUDGET NOTE FILED AS AMENDED BY HOUSE AMEND #1 99-03-02 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-03-03 H FISCAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 99-03-03 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-03-09 H SECOND READING-SHORT DEBATE 99-03-09 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-03-12 H ADDED AS A CO-SPONSOR GILES 99-03-12 H ADDED AS A CO-SPONSOR REITZ 99-03-12 H ADDED AS A CO-SPONSOR CROTTY 99-03-12 H ADDED AS A CO-SPONSOR BRADLEY 99-03-12 H ADDED AS A CO-SPONSOR BROSNAHAN 99-03-12 H ADDED AS A CO-SPONSOR WOJCIK 99-03-12 H ADDED AS A CO-SPONSOR MCCARTHY 99-03-12 H ADDED AS A CO-SPONSOR SCULLY 99-03-12 H ADDED AS A CO-SPONSOR FOWLER 99-03-12 H THIRD READING/SHORT DEBATE/PASSED 115-000-000 99-03-16 S ARRIVE IN SENATE 99-03-16 S CHIEF SPONSOR MYERS,J 99-03-16 S ADDED AS A CHIEF CO-SPONSOR BOMKE 99-03-16 S PLACED CALENDAR ORDER OF FIRST READING 99-03-17 99-03-16 S FIRST READING 99-03-16 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-17 S ADDED AS A CO-SPONSOR SIEBEN 99-03-17 S ADDED AS A CHIEF CO-SPONSOR DELEO 99-03-17 S ADDED AS A CHIEF CO-SPONSOR DUDYCZ 99-03-17 S ADDED AS A CO-SPONSOR RADOGNO 99-03-17 S ADDED AS A CO-SPONSOR KARPIEL 99-03-17 S ADDED AS A CO-SPONSOR HALVORSON 99-03-17 S ADDED AS A CO-SPONSOR MAHAR 99-03-18 S ADDED AS A CHIEF CO-SPONSOR BURZYNSKI 99-03-18 S ADDED AS A CO-SPONSOR CRONIN 99-04-14 S ASSIGNED TO COMMITTEE EXECUTIVE 99-04-15 S ADDED AS A CO-SPONSOR OBAMA 99-04-21 S ADDED AS A CO-SPONSOR MOLARO 99-04-22 S POSTPONED 99-04-29 S TO SUBCOMMITTEE 99-04-29 S COMMITTEE EXECUTIVE 99-04-29 S ADDED AS A CO-SPONSOR DEMUZIO 99-05-06 S ADDED AS A CO-SPONSOR DILLARD 99-05-08 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 00-11-15 S ASSIGNED TO COMMITTEE EXECUTIVE 00-11-16 S POSTPONED 00-11-29 S AMENDMENT NO. 01-EXECUTIVE S 00-11-29 S ADOPTED 00-11-29 S DO PASS AS AMENDED 010-000-000 SEXC 00-11-29 S PLACED ON CALENDAR ORDER OF 2ND READING 00-11-30 00-11-29 S SECOND READING 00-11-29 S PLACED ON CALENDAR ORDER OF 3RD READING 00-11-30 00-11-30 S THIRD READING - PASSED 058-000-000 00-11-30 H ARRIVE IN HOUSE 00-11-30 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 01-01-02 H RE-REFERRED TO RULES COMM/RULE 19(B) RULES HRUL 01-01-08 H APPROVED FOR CONSIDERATION 004-000-000 HRUL 01-01-08 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 01-01-08 H MOTION FILED CONCUR 01/BURKE 01-01-08 H MOTION REFERRED TO HRUL 01-01-08 H RULES REFERS TO HCOF 01-01-08 H RULES - RE-REFER MOTION TO HEXC 01-01-08 H CALENDAR ORDER OF CONCURRENCE 01 01-01-09 H BE APPROVED FOR CONSIDERATION HEXC/013-000-000 01-01-09 H HSE CONCURS IN SEN AMENDMENTS (NO.) 01/116-000-000 01-01-09 H PASSED BOTH HOUSES 01-01-16 H SENT TO THE GOVERNOR 01-02-09 H GOVERNOR APPROVED 01-02-09 H EFFECTIVE DATE 01-02-09 01-02-09 H PUBLIC ACT.............................. 91-0943 END OF INQUIRY Full Text Bill Summary