Bill Status of HB0273  103rd General Assembly

Short Description:  MUNICIPALITY-BOND INVESTMENT

House Sponsors
Rep. Dan Brady - Sidney H. Mathias - Frank J. Mautino and Michael K. Smith

Senate Sponsors
(Sen. Terry Link and Bill Brady)

Last Action
DateChamber Action
  7/24/2003HousePublic Act . . . . . . . . . 93-0360

Statutes Amended In Order of Appearance
30 ILCS 235/2from Ch. 85, par. 902
50 ILCS 340/1from Ch. 146 1/2, par. 3.1


Synopsis As Introduced
Amends the Public Funds Investment Act and the Investment of Municipal Funds Act. Provides that a county, park district, sanitary district, or other municipal corporation may, by resolution or by ordinance (now, by ordinance only) use money in specified funds to purchase bonds and other interest bearing obligations of states other than the State of Illinois or of any political subdivision or agency of the State of Illinois or of any other state, whether the interest earned thereon is taxable or tax-exempt under federal law (now, the funds can only be used to purchase only certain municipal bonds or bonds and other interest bearing obligations of the United States and the State of Illinois). Effective immediately.

Actions 
DateChamber Action
  1/23/2003HouseFiled with the Clerk by Rep. Dan Brady
  1/23/2003HouseFirst Reading
  1/23/2003HouseReferred to Rules Committee
  1/29/2003HouseAssigned to Local Government Committee
  2/6/2003HouseDo Pass / Short Debate Local Government Committee; 022-000-000
  2/6/2003HousePlaced on Calendar 2nd Reading - Short Debate
  2/6/2003HouseAdded Co-Sponsor Rep. Michael K. Smith
  2/6/2003HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  2/19/2003HouseSecond Reading - Short Debate
  2/19/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  2/20/2003HouseAdded Chief Co-Sponsor Rep. Frank J. Mautino
  2/21/2003HouseThird Reading - Short Debate - Passed 104-000-000
  2/26/2003SenateArrive in Senate
  2/26/2003SenatePlaced on Calendar Order of First Reading
  2/26/2003SenateChief Senate Sponsor Sen. Terry Link
  2/26/2003SenateFirst Reading
  2/26/2003SenateReferred to Rules
  4/10/2003SenateAssigned to Local Government
  4/30/2003SenateDo Pass Local Government; 006-004-000
  4/30/2003SenatePlaced on Calendar Order of 2nd Reading May 1, 2003
  5/6/2003SenateSecond Reading
  5/6/2003SenatePlaced on Calendar Order of 3rd Reading May 7, 2003
  5/6/2003SenateAdded as Alternate Co-Sponsor Sen. Bill Brady
  5/9/2003SenateThird Reading - Passed; 035-021-001
  5/9/2003HousePassed Both Houses
  6/6/2003HouseSent to the Governor
  7/24/2003HouseGovernor Approved
  7/24/2003HouseEffective Date July 24, 2003
  7/24/2003HousePublic Act . . . . . . . . . 93-0360