FINANCE-DEMAND DEPOST ACCTS Senate SponsorsSen. Terry Link-Michael Connelly House Sponsors(Rep. Rich Brauer-Frank J. Mautino-David R. Leitch-Tom Demmer-André M. Thapedi) 7/7/2014SenatePublic Act . . . . . . . . . 98-0703 30 ILCS 225/1from Ch. 102, par. 3430 ILCS 235/6.5Amends the Public Funds Deposit Act. Provides that, in addition to other investments permitted by law, any treasurer or other custodian of public funds may deposit those funds into demand deposit accounts. Excludes those deposits from statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits, and to the pledging of collateral by a bank to secure public deposits, if (i) the public agency initiates the investment at or through a bank located in Illinois and (ii) the invested public funds are at all times fully insured by an agency or instrumentality of the federal government. Effective immediately. 2/15/2013SenateFiled with Secretary by Sen. Terry Link 2/15/2013SenateFirst Reading 2/15/2013SenateReferred to Assignments 2/27/2013SenateAssigned to Financial Institutions 3/6/2013SenateDo Pass Financial Institutions; 010-000-000 3/6/2013SenatePlaced on Calendar Order of 2nd Reading March 7, 2013 3/13/2013SenateSecond Reading 3/13/2013SenatePlaced on Calendar Order of 3rd Reading March 14, 2013 4/12/2013SenateAdded as Chief Co-Sponsor Sen. Michael Connelly 4/12/2013SenateThird Reading - Passed; 050-000-000 4/12/2013HouseArrived in House 4/15/2013HouseChief House Sponsor Rep. Rich Brauer 4/15/2013HouseFirst Reading 4/15/2013HouseReferred to Rules Committee 1/28/2014HouseAssigned to State Government Administration Committee 2/5/2014HouseDo Pass / Short Debate State Government Administration Committee; 020-000-000 2/5/2014HousePlaced on Calendar 2nd Reading - Short Debate 2/25/2014HouseSecond Reading - Short Debate 2/25/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/9/2014HouseAdded Alternate Chief Co-Sponsor Rep. Frank J. Mautino 4/9/2014HouseAdded Alternate Chief Co-Sponsor Rep. David R. Leitch 4/9/2014HouseAdded Alternate Chief Co-Sponsor Rep. Tom Demmer 4/9/2014HouseAdded Alternate Chief Co-Sponsor Rep. André M. Thapedi 4/9/2014HouseThird Reading - Short Debate - Passed 110-001-001 4/9/2014SenatePassed Both Houses 5/8/2014SenateSent to the Governor 7/7/2014SenateGovernor Approved 7/7/2014SenateEffective Date July 7, 2014 7/7/2014SenatePublic Act . . . . . . . . . 98-0703