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IL HB2741

Bill

Official Source

Status

Introduced

2/5/2025

Primary Sponsor

Travis Weaver

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Public Funds Investment Act to expand authorized investment options for Illinois public agencies

  • Permits public agencies to invest public funds in securities that mature or can be tendered for purchase within 7 years of acquisition

  • Requires such securities to carry the highest (AAA) or second highest (AA) credit rating from Standard & Poor's, Moody's Investors' Services, or other nationally recognized statistical rating organizations

  • Takes effect immediately upon becoming law

Legislative Description

PUBLIC FUNDS-SECURITIES

Last Action

Added Chief Co-Sponsor Rep. Martha Deuter

4/10/2025

Committee Referrals

Rules3/21/2025
Tax Policy: Finance3/6/2025
Revenue & Finance3/4/2025
Rules2/6/2025

Full Bill Text

No bill text available