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| Public Act 104-0182 | ||||
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AN ACT concerning State government. | ||||
Be it enacted by the People of the State of Illinois, | ||||
represented in the General Assembly: | ||||
Section 5. The State Treasurer Act is amended by changing | ||||
Section 10 as follows: | ||||
(15 ILCS 505/10) (from Ch. 130, par. 10) | ||||
Sec. 10. Direct deposit of State payments. The Treasurer | ||||
shall not pay out of the treasury any money, except upon the | ||||
warrant of the State Comptroller, provided that warrants shall | ||||
not be required where payments are made by the Comptroller: | ||||
(1) to providers of community-based mental health | ||||
services; , | ||||
(2) to persons receiving benefit payments under the | ||||
State pension systems; , | ||||
(3) to individuals receiving assistance under Article | ||||
III of the Illinois Public Aid Code; , or | ||||
(4) to a public agency as defined in the Public Funds | ||||
Investment Act; or , | ||||
(5) by direct deposit or by the electronic direct | ||||
deposit or transfer of funds. | ||||
These payments, however, shall only be made upon the | ||||
approval of the Treasurer, in the form and method provided by | ||||
the rules or regulations adopted under Section 9.03 of the | ||||
State Comptroller Act. | ||
(Source: P.A. 87-132; 87-653; 87-685; 87-751; 87-895; 88-643, | ||
eff. 1-1-95.) | ||
Section 10. The Accountability for the Investment of | ||
Public Funds Act is amended by changing Section 10 as follows: | ||
(30 ILCS 237/10) | ||
Sec. 10. Online information concerning investment of | ||
public funds. Each State agency shall make available on the | ||
Internet, and update at least monthly, no later than the end of | ||
each month by the 15th of the month, sufficient information | ||
concerning the investment of any public funds held by that | ||
State agency to identify the following: | ||
(1) the amount of funds held by that agency on the last | ||
day of the preceding month or the average daily balance | ||
for the preceding month; | ||
(2) the total monthly investment income and yield for | ||
all funds invested by that agency; | ||
(3) the asset allocation of the investments made by | ||
that agency; and | ||
(4) a complete listing of all approved depository | ||
institutions, commercial paper issuers, and broker-dealers | ||
approved to do business with that agency. | ||
(Source: P.A. 93-499, eff. 1-1-04.) | ||
Section 99. Effective date. This Act takes effect upon | ||
becoming law. | ||