SB2449 prohibits the State Treasurer from investing state money in foreign government bonds.
SB2449 amends the Deposit of State Moneys Act to remove the provision allowing the State Treasurer to invest or reinvest state money in bonds, notes, debentures, or similar obligations of foreign governments. The bill specifies that the State Treasurer may invest state money in various other types of bonds and securities, including those issued by U.S. government agencies, U.S. corporations, and Illinois municipalities, subject to certain conditions and limitations. The bill also requires the State Treasurer to post the terms of investment agreements on the State Treasurer's official website.
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- Core Provisions
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- Critical Issues
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