Placed on Calendar Order of 3rd Reading August 31, 2021
Statutes Amended In Order of Appearance
30 ILCS 105/5.935 new
Synopsis As Introduced Creates the Infrastructure Development Act. Provides that the State Treasurer shall segregate a portion of the Treasurer's State investment portfolio in the Infrastructure Development Account, an account that shall be maintained separately and apart from other moneys invested by the State Treasurer. Allows the State Treasurer to make investments concerning the Infrastructure Development Account. Provides for Infrastructure Development Account-Recipient Funds created by Illinois infrastructure development firms in which the State Treasurer places money. Provides further requirements concerning Infrastructure Development Account-Recipient Funds. Provides for the adoption rules. Provides that the Infrastructure Development Fund is created as a special fund in the State treasury, which may receive a portion of earnings from the Infrastructure Development Account and may be used by the State Treasurer to pay expenses related to the Act. Defines terms. Amends the State Finance Act to provide for the Infrastructure Development Fund. Effective immediately.
House Floor Amendment No. 2 Provides that the Infrastructure Development Fund is created as a non-appropriated trust fund (rather than a special fund) within the State Treasury.