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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB5704 Introduced 2/24/2022, by Rep. Jim Durkin - Dan Brady SYNOPSIS AS INTRODUCED:
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| 15 ILCS 520/22.7 new | | 30 ILCS 235/2.3 new | |
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Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Prohibits the investment of State money and public funds in any investment instrument that is based in or tied to Russia. Effective immediately.
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| | A BILL FOR |
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| | HB5704 | | LRB102 26466 RJF 36917 b |
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| 1 | | AN ACT concerning finance.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Deposit of State Moneys Act is amended by |
| 5 | | adding Section 22.7 as follows:
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| 6 | | (15 ILCS 520/22.7 new) |
| 7 | | Sec. 22.7. Russian investments prohibited. Notwithstanding |
| 8 | | any provision of law to the contrary, the State Treasurer |
| 9 | | shall not invest State money in any investment instrument that |
| 10 | | is based in or tied to Russia.
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| 11 | | Section 10. The Public Funds Investment Act is amended by |
| 12 | | adding Section 2.3 as follows:
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| 13 | | (30 ILCS 235/2.3 new) |
| 14 | | Sec. 2.3. Russian investments prohibited. Notwithstanding |
| 15 | | any provision of law to the contrary, no public agency shall |
| 16 | | invest public funds in any investment instrument that is based |
| 17 | | in or tied to Russia.
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| 18 | | Section 99. Effective date. This Act takes effect upon |
| 19 | | becoming law.
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