91st General Assembly
Status of SB0464
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WATSON AND DEMUZIO.

(HOLBROOK-ERWIN-MCKEON-BOLAND)

   30 ILCS 235/1             from Ch. 85, par. 901                             
   110 ILCS 979/10                                                             
   110 ILCS 979/20                                                             
   110 ILCS 979/30                                                             

        Amends the Illinois Prepaid Tuition  Act  and  the  Public  Funds      
   Investment  Act.    Provides that the Public Funds Investment Act does      
   not apply to the Illinois Prepaid Tuition Trust Fund.  Provides that a      
   person who is less than one year of age must have a  parent  or  legal      
   guardian  who  has  been  an  Illinois resident for at least 12 months      
   before the date of the contract (instead  of  a  relative  who  is  an      
   Illinois  resident)  in  order to be a qualified beneficiary.  Changes      
   the name of the advisory panel to the investment advisory panel.            
          FISCAL NOTE (Ill. Student Assistance Commission)                     
          There is no fiscal impact on State revenue.                          
        GOVERNOR'S AMENDATORY VETO MESSAGE                                     
        Recommends that the Illinois Prepaid Tuition Act be further            
   amended to require the Illinois Student Assistance Commission (i) to        
   invest assets with the care, skill, prudence, and diligence that a          
   prudent person would use and (ii) to diversify the investments so as        
   to minimize the risk of large losses, unless it is clearly prudent not      
   to do so. Recommends adding a January 1, 2000 effective date.               
   99-02-18  S  FIRST READING                                                  
   99-02-18  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   99-02-24  S       ASSIGNED TO COMMITTEE               EDUCATION             
   99-03-03  S       DO PASS                             010-000-000   SESE    
   99-03-03  S  PLACED ON CALENDAR ORDER OF 2ND READING  99-03-04              
   99-03-09  S  SECOND READING                                                 
   99-03-09  S  PLACED ON CALENDAR ORDER OF 3RD READING  99-03-10              
   99-03-18  S  FILED WITH SECRETARY                                           
   99-03-18  S                             AMENDMENT NO. 01-BERMAN             
   99-03-18  S                                           -WATSON               
   99-03-18  S                     AMENDMENT REFERRED TO SRUL                  
   99-03-19  S                             AMENDMENT NO. 01-BERMAN             
   99-03-19  S                                           -WATSON               
   99-03-19  S                           RULES REFERS TO SESE                  
   99-03-19  S  CALENDAR ORDER OF 3RD READING            99-03-10              
   99-03-24  S  ADDED AS A CO-SPONSOR                    DEMUZIO               
   99-03-24  S  THIRD READING - PASSED                   051-000-008           
   99-03-24  S  TABLED PURSUANT TO RULE                  5-4(A) SA 01          
   99-03-24  S  THIRD READING - PASSED                   051-000-008           
   99-03-24  H  ARRIVE IN HOUSE                                                
   99-03-24  H  PLACED CALENDAR ORDER OF FIRST READING                         
   99-03-25  H  HOUSE SPONSOR                            HOLBROOK              
   99-03-25  H  FIRST READING                                                  
   99-03-25  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-04-14  H       ASSIGNED TO COMMITTEE               HIGHER ED             
   99-04-21  H  ADDED AS A JOINT SPONSOR                 ERWIN                 
   99-04-22  H  DO PASS/SHORT DEBATE                     013-000-000   HHED    
   99-04-22  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   99-04-27  H                         FISCAL NOTE FILED                       
   99-04-27  H  CALENDAR ORDER 2ND READING-SHORT DEBATE                        
   99-04-28  H  SECOND READING-SHORT DEBATE                                    
   99-04-28  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   99-04-28  H  ADDED AS A JOINT SPONSOR                 MCKEON                
   99-04-28  H  ADDED AS A JOINT SPONSOR                 BOLAND                
   99-04-29  H  THIRD READING/SHORT DEBATE/PASSED        115-000-000           
   99-04-29  S  PASSED BOTH HOUSES                                             
   99-05-28  S  SENT TO THE GOVERNOR                                           
   99-07-22  S  GOVERNOR AMENDATORY VETO                                       
   99-11-04  S  PLACED CALENDAR AMENDATORY VETO          NOVEMBER 16, 1999     
   99-11-04  S  MOTION FILED ACCEPT AMENDATORY VETO      WATSON                
   99-11-17  S  ACCEPT AMENDATORY VETO - SENATE PASSED   059-000-000           
   99-11-18  H  ARRIVE IN HOUSE                                                
   99-11-18  H  PLACED CALENDAR AMENDATORY VETO          NOVEMBER 30, 1999     
   99-11-30  H  MOTION FILED ACCEPT AMENDATORY VETO      #1/HOLBROOK           
   99-11-30  H                        MOTION REFERRED TO HRUL                  
   99-11-30  H  APPROVED FOR CONSIDERATION - COMPLIANCE  HRUL                  
   99-11-30  H                         3/5 VOTE REQUIRED                       
   99-11-30  H  ACCEPT AMENDATORY VETO - HOUSE PASSED    115-000-000           
   99-11-30  S  BOTH HOUSES ACCEPT AMENDATORY VETO                             
   99-12-06  S  RETURNED TO GOVERNOR FOR CERTIFICATION                         
   99-12-22  S  GOVERNOR CERTIFIES CHANGES                                     
   99-12-22  S                            EFFECTIVE DATE 00-01-01              
   99-12-22  S  PUBLIC ACT.............................. 91-0669               

   END OF INQUIRY 



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