Bill > SB0090

This bill makes two key changes to existing state laws regarding financial transparency and payment procedures. First, it modifies the State Treasurer Act to clarify the categories of payments that can be made without a formal warrant, including payments to mental health service providers, pension benefit recipients, public assistance recipients, public agencies, and payments made through direct deposit or electronic fund transfers. Second, the bill amends the Accountability for the Investment of Public Funds Act to adjust the timing of online public fund investment disclosures, shifting the monthly update deadline from the 15th of the month to the end of each month. The new requirements mandate that state agencies publish online information about their public funds, including the amount of funds held, total monthly investment income, asset allocation, and a list of approved financial institutions and brokers. By requiring these updates to be made no later than the end of each month, the bill aims to improve the timeliness and accessibility of financial information for public oversight. The bill takes effect immediately upon becoming law.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=90&GAID=18&DocTypeID=SB&SessionID=114&GA=104