HB2741 amends the Public Funds Investment Act to expand investment options for public agencies in Illinois.
HB2741 amends the Public Funds Investment Act to allow public agencies in Illinois to invest in various securities, including municipal bonds, repurchase agreements, and mutual funds. It specifies that investments must be made through authorized banks or trust companies and must meet certain rating criteria. The bill also outlines restrictions on investments in repurchase agreements and prohibits public officials from having interests in agency investments. Effective immediately upon becoming law.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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