Bill > SB2449

This bill amends the Deposit of State Moneys Act to remove a provision that previously allowed the State Treasurer to invest state money in bonds or similar financial obligations issued by foreign governments. Specifically, the bill eliminates language that permitted investments in foreign government bonds, even those that met certain stringent requirements such as having a history of timely payments over 25 years. By removing this subsection (labeled as subsection (2.5) in the original law), the bill narrows the types of investments the State Treasurer can make, effectively restricting investment options to primarily U.S. government-backed securities, domestic financial institutions, and other specified investment vehicles. The change appears designed to keep state funds invested exclusively in domestic or U.S.-guaranteed financial instruments, potentially as a measure to reduce financial risk or to prioritize investments that directly benefit the state or national economy.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2449&GAID=18&DocTypeID=SB&SessionID=114&GA=104