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HB 5884 Illinois House · 99th Regular Session

MUNI INVEST-NOT-FOR-PROFIT

Summary
Amends the Public Funds Investment Act. Provides that municipalities may invest up to $250,000 in public funds in not-for-profit community development financial institutions. Requires the financial institutions to have at least $5,000,000 in net assets and to have earned at least an "A" rating by an investment rating organization. Provides that the investments made shall be made for a term and at a rate acceptable to the municipality and the municipality may set benchmarks in order to continue investing in the not-for-profit community development financial institution.
Bill status signed all 5 stages cleared
Introduction
Apr 2016
Committee Review
May 2016
House Passage
May 2016
Senate Passage
May 2016
Signed into Law
Jul 2016
Introduced Apr 14, 2016 Signed Jul 29, 2016
Floor votes · Senate May 30, 2016 · House Apr 14, 2016

How they voted

48–0
Passed · 2 other
Total votes 50
May 30, 2016
D Democratic32
31 Yea 1
96% Yea
R Republican18
17 Yea 1
94% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
34
Key actions
9
Committee
9
Amendments
2
Jul 29, 2016
Signed into law
Governor Approved
lower
May 30, 2016
Lower · Passed
Passed Both Houses
lower
May 30, 2016
Senate · Passed
Senate Vote: pass (48-0-2)
senate
May 10, 2016
Upper · Passed
Do Pass Revenue; 009-000-000
upper
Apr 27, 2016
Committee
Assigned to Revenue
upper
Apr 18, 2016
Committee
Referred to Assignments
upper
Apr 14, 2016
Introduced
Arrive in Senate
upper
Apr 14, 2016
House · Passed
House Vote: pass (101-0-3)
house
Apr 13, 2016
Lower · Passed
House Floor Amendment No. 1 Adopted
lower
Apr 13, 2016
Lower · Passed
House Floor Amendment No. 1 Recommends Be Adopted Cities & Villages Committee; 004-000-000
lower
Apr 6, 2016
Lower · Passed
House Floor Amendment No. 1 Rules Refers to Cities & Villages Committee
lower
Apr 5, 2016
Committee
House Floor Amendment No. 1 Referred to Rules Committee
lower
Apr 5, 2016
Introduced
House Floor Amendment No. 1 Filed with Clerk by Rep. Katherine Cloonen
lower
Apr 4, 2016
Lower · Passed
Do Pass / Short Debate Cities & Villages Committee; 006-001-000
lower
Mar 23, 2016
Committee
Assigned to Cities & Villages Committee
lower
Feb 11, 2016
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.