Illinois HB 2741: IMDMA-STEP-PARENT; COUNSELING

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB2741

Introduced 2/6/2025, by Rep. Travis Weaver 

SYNOPSIS AS INTRODUCED:

30 ILCS 235/2 from Ch. 85, par. 902

 Amends the Public Funds Investment Act. Permits public agencies to invest public funds in any security that matures or that may be tendered for purchase at the option of the holder within not more than 7 years of the date on which it is acquired and that has the highest rating category (AAA) or the second highest rating category (AA) assigned by Standard & Poor's Corporation, Moody's Investors' Services, or other similar nationally recognized statistical rating organization. Effective immediately.

LRB104 08315 HLH 18366 b

A BILL FOR

HB2741LRB104 08315 HLH 18366 b

1 AN ACT concerning finance.

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

3represented in the General Assembly:

4 Section 5. The Public Funds Investment Act is amended by 

5changing Section 2 as follows:

6 (30 ILCS 235/2) (from Ch. 85, par. 902)

7 Sec. 2. Authorized investments. 

8 (a) Any public agency may invest any public funds as 

9follows:

10 (1) in bonds, notes, certificates of indebtedness, 

11 treasury bills or other securities now or hereafter 

12 issued, which are guaranteed by the full faith and credit 

13 of the United States of America as to principal and 

14 interest;

15 (2) in bonds, notes, debentures, or other similar 

16 obligations of the United States of America, its agencies, 

17 and its instrumentalities;

18 (3) in interest-bearing savings accounts, 

19 interest-bearing certificates of deposit or 

20 interest-bearing time deposits or any other investments 

21 constituting direct obligations of any bank as defined by 

22 the Illinois Banking Act;