House Sponsors: BRUNSVOLD-NOVAK-BLACK. Senate Sponsors: CULLERTON-WATSON Short description: IL CONSERVATION FOUNDTN-INVEST Synopsis of Bill as introduced: Amends the Illinois Conservation Foundation Act. Provides that private funds collected by the Illinois Conservation Foundation are not subject to the Public Funds Investment Act and that Foundation procurement is exempt from the Illinois Procurement Code when private funds are used for procurement expenditures. Amends the Public Funds Investment Act. Provides that the Act does not apply to private funds collected by the Illinois Conservation Foundation. Amends the Illinois Procurement Code. Provides that the Code does not apply to procurement expenditures by the Illinois Conservation Foundation when only private funds are used. Removes the limitation that the assistance given to the Foundation by personnel of the Department of Natural Resources must be on matters falling within the scope and function of the Department. Amends the Illinois Insurance Code. Provides that the Illinois Conservation Foundation is authorized to engage in charitable gift annuities transactions if it has an unrestricted fund balance of not less than $300,000 on the date the annuity is issued. Effective immediately. FISCAL NOTE (Department of Natural Resources) HB 173 will not cause an increase or decrease in State revenues or an expenditure of State funds. HOUSE AMENDMENT NO. 1. Deletes reference to: 215 ILCS 5/121-2.10 Adds reference to: 20 ILCS 880/20 new Further amends the Illinois Conservation Foundation Act. Provides that the Illinois Conservation Foundation must provide a written notice to any entity providing a gift, grant, or bequest to the Foundation that the Foundation is not subject to the provisions of the Public Funds Investment Act which Act places limitations on the types of securities in which a public agency may invest public funds. Removes the provisions amending the Illinois Insurance Code from the bill. SENATE AMENDMENT NO. 1. In the Illinois Conservation Foundation Act, provides that funds collected by the Foundation from public entities shall not be considered private funds. Further provides that Foundation procurement is exempt from the Illinois Procurement Code when "only" private funds are used. Last action on Bill: PUBLIC ACT.............................. 92-0797 Last action date: AUG-15-2002 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status