Illinois SB 3086: STATE PERMITTED INVESTMENTS

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 Full Text of SB3086

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SB3086 EnrolledLRB104 17721 SPS 31152 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Deposit of State Moneys Act is amended by 

5changing Section 22.5 as follows:

6 (15 ILCS 520/22.5) (from Ch. 130, par. 41a)

7 (For force and effect of certain provisions, see Section 

890 of P.A. 94-79)

9 Sec. 22.5. Permitted investments. The State Treasurer may 

10invest and reinvest any State money in the State Treasury 

11which is not needed for current expenditures due or about to 

12become due, in obligations of the United States government or 

13its agencies or of National Mortgage Associations established 

14by or under the National Housing Act, 12 U.S.C. 1701 et seq., 

15or in mortgage participation certificates representing 

16undivided interests in specified, first-lien conventional 

17residential Illinois mortgages that are underwritten, insured, 

18guaranteed, or purchased by the Federal Home Loan Mortgage 

19Corporation or in Affordable Housing Program Trust Fund Bonds 

20or Notes as defined in and issued pursuant to the Illinois 

21Housing Development Act. All such obligations shall be 

22considered as cash and may be delivered over as cash by a State 

23Treasurer to his successor.

SB3086 Enrolled- 2 -LRB104 17721 SPS 31152 b

1 The State Treasurer may purchase any state bonds with any 

2money in the State Treasury that has been set aside and held 

3for the payment of the principal of and interest on the bonds. 

4The bonds shall be considered as cash and may be delive