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SB 1812 Illinois Senate · 98th Regular Session

FINANCE-DEMAND DEPOST ACCTS

Summary
Amends the Public Funds Deposit Act. Provides that, in addition to other investments permitted by law, any treasurer or other custodian of public funds may deposit those funds into demand deposit accounts. Excludes those deposits from statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits, and to the pledging of collateral by a bank to secure public deposits, if (i) the public agency initiates the investment at or through a bank located in Illinois and (ii) the invested public funds are at all times fully insured by an agency or instrumentality of the federal government. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2013
Committee Review
Feb 2014
Senate Passage
Apr 2014
House Passage
Apr 2014
Signed into Law
Jul 2014
Introduced Apr 12, 2013 Signed Jul 7, 2014
Floor votes · Senate Apr 12, 2013 · House Apr 9, 2014

How they voted

44–0
Passed · 9 other
Total votes 53
Apr 12, 2013
D Democratic35
28 Yea 7
80% Yea
R Republican18
16 Yea 2
88% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
31
Key actions
6
Committee
6
Jul 7, 2014
Signed into law
Governor Approved
upper
Apr 9, 2014
Upper · Passed
Passed Both Houses
upper
Apr 9, 2014
House · Passed
House Vote: pass (98-1-7)
house
Feb 5, 2014
Lower · Passed
Do Pass / Short Debate State Government Administration Committee; 020-000-000
lower
Jan 28, 2014
Committee
Assigned to State Government Administration Committee
lower
Apr 15, 2013
Committee
Referred to Rules Committee
lower
Apr 12, 2013
Introduced
Arrived in House
lower
Apr 12, 2013
Senate · Passed
Senate Vote: pass (44-0-9)
senate
Mar 6, 2013
Upper · Passed
Do Pass Financial Institutions; 010-000-000
upper
Feb 27, 2013
Committee
Assigned to Financial Institutions
upper
Feb 15, 2013
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.