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HB 4495 Illinois House · 93rd Regular Session

PUBLIC FUNDS-INVESTMENT

Summary
Amends the Public Funds Investment Act. Provides that whenever a public agency invests public funds in an interest-bearing savings account, interest-bearing certificate of deposit, or interest-bearing time deposit, the statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits or to the pledging of collateral by a bank to secure public deposits do not apply to any bank receiving or holding all or part of the invested public funds if (i) the public agency initiates the investment at or through a bank having its main office in Illinois and (ii) the invested public funds are at all time fully insured by an agency or instrumentality of the federal government. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Mar 2004
Committee Review
Apr 2004
House Passage
May 2004
Senate Passage
May 2004
Signed into Law
Jul 2004
Introduced Mar 25, 2004 Signed Jul 16, 2004
Floor votes · Senate May 5, 2004 · House Mar 24, 2004

How they voted

55–0
Passed · 1 other
Total votes 56
May 5, 2004
D Democratic30
30 Yea
100% Yea
R Republican26
25 Yea 1
96% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
32
Key actions
7
Committee
6
Amendments
2
Jul 16, 2004
Signed into law
Governor Approved
lower
May 5, 2004
Lower · Passed
Passed Both Houses
lower
May 5, 2004
Senate · Passed
Senate Vote: pass (55-0-1)
senate
Apr 22, 2004
Upper · Passed
Do Pass Financial Institutions; 008-000-000
upper
Apr 15, 2004
Committee
Assigned to Financial Institutions
upper
Mar 26, 2004
Committee
Referred to Rules
upper
Mar 25, 2004
Introduced
Arrive in Senate
upper
Mar 24, 2004
House · Passed
House Vote: pass (112-0-3)
house
Mar 3, 2004
Lower · Passed
Do Pass as Amended / Short Debate Financial Institutions Committee; 018-000-000
lower
Mar 3, 2004
Lower · Passed
House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
lower
Mar 3, 2004
Introduced
House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee
lower
Feb 19, 2004
Committee
Assigned to Financial Institutions Committee
lower
Feb 3, 2004
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.