HB 273 Illinois House · 93rd Regular Session

MUNICIPALITY-BOND INVESTMENT

Summary

Amends the Public Funds Investment Act and the Investment of Municipal Funds Act. Provides that a county, park district, sanitary district, or other municipal corporation may, by resolution or by ordinance (now, by ordinance only) use money in specified funds to purchase bonds and other interest bearing obligations of states other than the State of Illinois or of any political subdivision or agency of the State of Illinois or of any other state, whether the interest earned thereon is taxable or tax-exempt under federal law (now, the funds can only be used to purchase only certain municipal bonds or bonds and other interest bearing obligations of the United States and the State of Illinois). Effective immediately.

Bill status signed all 5 stages cleared

Introduction

Feb 2003

Committee Review

Apr 2003

House Passage

May 2003

Senate Passage

May 2003

Signed into Law

Jul 2003

Introduced Feb 26, 2003 Signed Jul 24, 2003

Floor votes · Senate May 9, 2003 · House Feb 21, 2003

How they voted

26–17

Passed · 2 other

Total votes 45

May 9, 2003

D Democratic25

24 Yea 1

96% Yea

R Republican20

2 Yea 17 Nay 1

85% Nay

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 24, 2003

Signed into law

Governor Approved

lower

May 9, 2003

Lower · Passed

Passed Both Houses

lower

Apr 30, 2003

Upper · Passed

Do Pass Local Government; 006-004-000

upper

Apr 10, 2003

Committee

Assigned to Local Government

upper

Feb 26, 2003

Committee

Referred to Rules

upper

Feb 26, 2003

Introduced

Arrive in Senate

upper

Feb 21, 2003

House · Passed

House Vote: pass (83-0-11)

house

Feb 6, 2003

Lower · Passed

Do Pass / Short Debate Local Government Committee; 022-000-000

lower

Jan 29, 2003

Committee

Assigned to Local Government Committee

lower

Jan 23, 2003

Committee

Referred to Rules Committee

lower

0 primary · 1 co-sponsor