Illinois Senate Bill 3093 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Engrossed on April 21 2016 - 50% progression, died in committee
Action: 2016-04-21 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]

Amends the Deposit of State Moneys Act. Provides that nothing in the Act shall be construed as prohibiting a bank, savings bank, or credit union from submitting a proposal to the State Treasurer on the basis that it does not offer a product or service in this State, unless a specific requirement is noted in the public solicitation that is related to the product or service being solicited. Provides that the amendatory Act is not intended to limit the State Treasurer's discretion in the selection of a bank, savings bank, or credit union, as provided in the Act. Amends the Public Funds Investment Act to make a similar change concerning the submission of proposals to a public agency. Provides that any public agency may invest any public funds in obligations (currently, short term obligations) of corporations organized in the United States with assets exceeding $500,000,000 if such obligations mature not later than 3 years (currently, 270 days) from the date of purchase, in addition to other criteria. Effective immediately.

STATE MONEYS-FIN SUBMISSIONS

Sen. Karen McConnaughay [R]

Sen. Robert Martwick [D]

2016-04-21 - Senate - Third Reading in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]

Date	Chamber	Action
2016-04-21	House	Referred to Rules Committee
2016-04-21	House	First Reading
2016-04-21	House	Chief House Sponsor Rep. Robert Martwick
2016-04-21	House	Arrived in House
2016-04-21	Senate	Third Reading - Passed; 056-000-000
2016-04-19	Senate	Placed on Calendar Order of 3rd Reading April 20, 2016
2016-04-19	Senate	Second Reading
2016-04-06	Senate	Placed on Calendar Order of 2nd Reading April 7, 2016
2016-04-06	Senate	Do Pass Financial Institutions; 008-000-000
2016-03-08	Senate	Assigned to Financial Institutions
2016-02-19	Senate	Referred to Assignments
2016-02-19	Senate	First Reading
2016-02-19	Senate	Filed with Secretary by Sen. Karen McConnaughay

Chapter	Article	Section	Citation Type	Statute Text
15	520	6.1	New Code	See Bill Text
30	235	2	Amended Code	Citation Text
30	235	6.1	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3093&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB3093.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB3093eng.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB3093_04212016_093000T.pdf