HB5033 amends the Illinois Pension Code to expand the types of investments the State Treasurer can make with state funds.
HB5033 allows the State Treasurer to invest state funds in various types of securities, including those issued by federal entities and private companies with significant presence in Illinois. The bill specifies conditions for these investments, such as credit ratings and maturity periods. It also permits investments in private placement fixed income securities exempt from SEC registration, provided certain criteria are met. The State Treasurer and Comptroller must enter into written agreements for these investments, detailing terms like interest rates and payment intervals.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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