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IL SB2717
Bill
AI Summary
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Amends the Deposit of State Moneys Act (15 ILCS 520/2) with a technical correction to language regarding interest on deposits.
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Changes "and" to "and" in Section 2, making a grammatical or stylistic correction to the existing statutory text.
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Requires banks and savings and loan associations holding state deposits to pay interest on time deposit accounts when permitted by Federal Reserve system rules.
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Specifies that all interest received on state treasury deposits belongs to the State of Illinois and shall be credited as provided in Section 4.1 of the State Finance Act.
Legislative Description
STATE GOVERNMENT-TECH
Last Action
Session Sine Die
1/9/2019
Committee Referrals
Assignments4/27/2018
Executive2/20/2018
Assignments2/13/2018
Full Bill Text
No bill text available