Public Act 93-0499

HB3142 Enrolled                      LRB093 09498 SJM 09733 b

    AN ACT concerning public funds.

    Be it enacted by the People of  the  State  of  Illinois,
represented in the General Assembly:

    Section  1.  Short  title.  This  Act may be cited as the
Accountability for the Investment of Public Funds Act.

    Section 5. Definitions. As used in this Act:
    "Public funds" means  current  operating  funds,  special
funds,  interest  and sinking funds, and funds of any kind or
character belonging to or in the custody of any State agency.
    "State agency"  means  those  entities  included  in  the
definition of "State agencies" in the Illinois State Auditing

    Section  10.  Online information concerning investment of
public funds.  Each State agency shall make available on  the
Internet,  and  update  at  least  monthly by the 15th of the
month, sufficient information concerning  the  investment  of
any  public  funds  held by that State agency to identify the
         (1) the amount of funds held by that agency  on  the
    last  day  of  the  preceding  month or the average daily
    balance for the preceding month;
         (2) the total monthly investment  income  and  yield
    for all funds invested by that agency;
         (3)  the asset allocation of the investments made by
    that agency; and
         (4) a complete listing of  all  approved  depository
    institutions,     commercial     paper    issuers,    and
    broker-dealers approved to do business with that agency.

    Section 15.  Information exempt from posting requirement.
Nothing in this Act shall require  a  State  agency  to  make
information  available  on  the  Internet that is exempt from
inspection and copying under the Freedom of Information Act.

Effective Date: 01/01/04