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IL SB1554
Bill
Status
Failed
1/13/2015
Primary Sponsor
Christine Radogno
Click for details
AI Summary
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Amends the Deposit of State Moneys Act (15 ILCS 520/2) to make a technical revision regarding interest on deposits.
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Requires banks and savings and loan associations holding state moneys to pay interest on time deposit accounts if permitted by Federal Reserve System regulations.
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Specifies that all interest received on state treasury deposits belongs to the State of Illinois.
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Directs interest from deposits made by the State Treasurer to be credited as provided in Section 4.1 of the State Finance Act.
Legislative Description
STATE GOVERNMENT-TECH
Last Action
Session Sine Die
1/13/2015
Committee Referrals
Assignments4/16/2013
Executive3/13/2013
Assignments2/13/2013
Full Bill Text
No bill text available