Bill Text: IL HB1572 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-04-11 - Rule 19(a) / Re-referred to Rules Committee [HB1572 Detail]

Download: Illinois-2021-HB1572-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB1572 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
15 ILCS 520/1.1 from Ch. 130, par. 20.1
Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning investment in minority-owned financial institutions.
LRB102 03603 RJF 13616 b
A BILL FOR
HB1572 LRB102 03603 RJF 13616 b
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Deposit of State Moneys Act is amended by
changing Section 1.1 as follows:
(15 ILCS 520/1.1) (from Ch. 130, par. 20.1)
Sec. 1.1. When investing or depositing public funds, each
custodian shall, to the the extent permitted by this Act and by
the lawful and reasonable performance of his custodial duties,
invest or deposit such funds with or in minority-owned
financial institutions within this State.
(Source: P.A. 84-754.)