Illinois General Assembly - Bill Status for SB1950
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 Bill Status of SB1950  98th General Assembly


Senate Sponsors
Sen. Pamela J. Althoff

House Sponsors
(Rep. Jack D. Franks - Al Riley)

Last Action
DateChamber Action
  8/9/2013SenatePublic Act . . . . . . . . . 98-0297

Statutes Amended In Order of Appearance
30 ILCS 235/2from Ch. 85, par. 902
65 ILCS 5/3.1-35-50from Ch. 24, par. 3.1-35-50

Synopsis As Introduced
Amends the Public Funds Investment Act. Provides that any unit of local government (now, municipalities and counties only) may invest its public funds in interest bearing bonds of any county, township, city, village, incorporated town, municipal corporation, or school district, of the State of Illinois, of any other state, or of any political subdivision or agency of the State of Illinois or of any other state. Amends the Municipal Code to provide that municipalities are authorized to invest the funds and public moneys in the custody of the municipal treasurer in accordance with the Public Funds Investment Act.

Senate Floor Amendment No. 1
Adds reference to:
30 ILCS 235/1from Ch. 85, par. 901

Replaces a reference to "unit of government" with "governmental unit". Provides that the term "governmental unit" means a county, township, municipality, municipal corporation, unit of local government, school district, special district, public corporation, body corporate and politic, forest preserve district, fire protection district, conservation district, park district, sanitary district, and all other local governmental agencies, including any entity created by intergovernmental agreement, but does not include any office, officer, department, division, bureau, board, commission, university, or similar agency of the State.

DateChamber Action
  2/15/2013SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/15/2013SenateFirst Reading
  2/15/2013SenateReferred to Assignments
  3/5/2013SenateAssigned to Local Government
  3/13/2013SenateDo Pass Local Government; 012-000-000
  3/13/2013SenatePlaced on Calendar Order of 2nd Reading March 14, 2013
  3/19/2013SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Pamela J. Althoff
  3/19/2013SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/21/2013SenateSecond Reading
  3/21/2013SenatePlaced on Calendar Order of 3rd Reading April 10, 2013
  3/21/2013SenateSenate Floor Amendment No. 1 Assignments Refers to Local Government
  4/11/2013SenateSenate Floor Amendment No. 1 Recommend Do Adopt Local Government; 014-000-000
  4/12/2013SenateRecalled to Second Reading
  4/12/2013SenateSenate Floor Amendment No. 1 Adopted; Althoff
  4/12/2013SenatePlaced on Calendar Order of 3rd Reading April 16, 2013
  4/17/2013SenateThird Reading - Passed; 052-000-000
  4/17/2013HouseArrived in House
  4/17/2013HouseChief House Sponsor Rep. Jack D. Franks
  4/17/2013HouseFirst Reading
  4/17/2013HouseReferred to Rules Committee
  4/24/2013HouseAssigned to Counties & Townships Committee
  5/1/2013HouseAdded Alternate Chief Co-Sponsor Rep. Al Riley
  5/2/2013HouseDo Pass / Short Debate Counties & Townships Committee; 004-000-000
  5/2/2013HousePlaced on Calendar 2nd Reading - Short Debate
  5/9/2013HouseSecond Reading - Short Debate
  5/9/2013HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/17/2013HouseThird Reading - Short Debate - Passed 113-000-000
  5/17/2013SenatePassed Both Houses
  6/14/2013SenateSent to the Governor
  8/9/2013SenateGovernor Approved
  8/9/2013SenateEffective Date January 1, 2014
  8/9/2013SenatePublic Act . . . . . . . . . 98-0297

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