CNTY CD-FUNDS-CREDIT UNIONS House SponsorsRep. Emily McAsey-Lisa M. Dugan-Marlow H. Colvin and Karen A. Yarbrough Senate Sponsors(Sen. A. J. Wilhelmi and Sue Rezin) 7/14/2011HousePublic Act . . . . . . . . . 97-0129 55 ILCS 5/3-10009from Ch. 34, par. 3-1000955 ILCS 5/3-11002from Ch. 34, par. 3-1100255 ILCS 5/3-11003from Ch. 34, par. 3-1100355 ILCS 5/3-11004from Ch. 34, par. 3-1100455 ILCS 5/3-11006from Ch. 34, par. 3-1100655 ILCS 5/3-11007from Ch. 34, par. 3-1100755 ILCS 5/3-11009from Ch. 34, par. 3-1100955 ILCS 5/3-11010from Ch. 34, par. 3-1101055 ILCS 5/3-11011from Ch. 34, par. 3-1101155 ILCS 5/3-11013from Ch. 34, par. 3-1101355 ILCS 5/3-11018from Ch. 34, par. 3-11018 Amends the Counties Code. Changes numerous Sections to provide that a county may deposit public funds into credit unions (currently, only banks or savings and loan associations). Further provides that county moneys may be invested in dividend-bearing share accounts, share certificate accounts, or class of share accounts of a credit union, provided the accounts of that credit union are insured and the credit union's principal office is located within the State of Illinois. Effective immediately.House Committee Amendment No. 1 Adds reference to:30 ILCS 235/2from Ch. 85, par. 902Replaces everything after the enacting clause. Amends the Public Funds Investment Act. Provides that a county, in addition to a municipality, may invest its public funds in interest bearing bonds of any county, township, city, village, incorporated town, municipal corporation, or school district, whether the interest earned thereon is taxable or tax-exempt under federal law. Amends the Counties Code. Changes numerous Sections to provide that a county may deposit public funds into savings banks or credit unions (currently, only banks or savings and loan associations). Further provides that county moneys may be invested in dividend-bearing share accounts, share certificate accounts, or class of share accounts of a credit union, provided the accounts of that credit union are insured and the credit union's principal office is located within the State of Illinois. Requires that in addition to any other investments or deposits authorized under the Counties Code, counties are authorized to invest funds and public moneys in the custody of the county treasurer in accordance with the Public Funds Investment Act and all counties are authorized to invest county moneys in accordance with the Act. Effective immediately. 2/18/2011HouseFiled with the Clerk by Rep. Emily McAsey 2/22/2011HouseFirst Reading 2/22/2011HouseReferred to Rules Committee 2/24/2011HouseAssigned to Counties & Townships Committee 3/8/2011HouseAdded Chief Co-Sponsor Rep. Lisa M. Dugan 3/9/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Emily McAsey 3/9/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee 3/9/2011HouseHouse Committee Amendment No. 1 Rules Refers to Counties & Townships Committee 3/10/2011HouseHouse Committee Amendment No. 1 Adopted in Counties & Townships Committee; by Voice Vote 3/10/2011HouseDo Pass as Amended / Short Debate Counties & Townships Committee; 005-000-000 3/10/2011HousePlaced on Calendar 2nd Reading - Short Debate 3/15/2011HouseAdded Chief Co-Sponsor Rep. Marlow H. Colvin 3/17/2011HouseSecond Reading - Short Debate 3/17/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/5/2011HouseThird Reading - Short Debate - Passed 080-023-000 4/5/2011HouseAdded Co-Sponsor Rep. Karen A. Yarbrough 4/6/2011SenateArrive in Senate 4/6/2011SenatePlaced on Calendar Order of First Reading 4/6/2011SenateChief Senate Sponsor Sen. A. J. Wilhelmi 4/6/2011SenateAdded as Alternate Co-Sponsor Sen. Sue Rezin 4/7/2011SenateFirst Reading 4/7/2011SenateReferred to Assignments 4/27/2011SenateAssigned to Local Government 5/6/2011SenateDo Pass Local Government; 008-000-000 5/6/2011SenatePlaced on Calendar Order of 2nd Reading May 10, 2011 5/12/2011SenateSecond Reading 5/12/2011SenatePlaced on Calendar Order of 3rd Reading May 13, 2011 5/17/2011SenateThird Reading - Passed; 057-000-000 5/17/2011HousePassed Both Houses 6/15/2011HouseSent to the Governor 7/14/2011HouseGovernor Approved 7/14/2011HouseEffective Date July 14, 2011 7/14/2011HousePublic Act . . . . . . . . . 97-0129