Senate Sponsors: WALSH,T. House Sponsors: MOORE Short description: LOC GOV DEBT-QUALFIED GOV UNIT Synopsis of Bill as introduced: Amends the Local Government Debt Reform Act. Authorizes the use of escrow accounts established at a trust company or bank having trust powers by qualified governmental units (now governmental units may use escrow accounts established by the governmental units). Defines "qualified governmental unit". Effective immediately. SENATE AMENDMENT NO. 1. Further amends the Local Government Debt Reform Act. In the definition of "qualified governmental unit" provides that the governmental unit must have received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association or the equivalent award from the Association of School Business Officials International (instead of the Illinois Association of School Business Officials (IASBO)). Makes a technical change. Last action on Bill: PUBLIC ACT.............................. 92-0078 Last action date: JUL-12-2001 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status