IL SB1553

Amends the State Treasurer Act, Section 17, concerning the Public Treasurers' Investment Pool by making a technical change to remove a duplicated word ("the").

State Treasurer may establish and administer a Public Treasurers' Investment Pool to provide investment opportunities to custodians of public funds for public agencies in Illinois.

Treasurer must develop and publish an annual investment policy for the Pool as part of the Auditor General's audit, with at least 30 calendar days' notice before implementing any policy changes in newspapers of general circulation in Springfield and Chicago.

Treasurer may invest Pool funds using the same methods, investment types, and limitations as State Treasury investments, with administration expenses paid from Pool earnings and excess interest credited monthly to participating custodians.

State Treasurer must provide a bond with a penal sum of $150,000 when creating the Pool to ensure faithful discharge of duties related to the Pool's management.