Fabio
89 lines
5.2 KiB
Markdown
89 lines
5.2 KiB
Markdown
---
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type: "Bill"
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title: "FINANCE-DEMAND DEPOST ACCTS"
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description: "Amends the Public Funds Deposit Act. Provides that, in addition to other investments permitted by law, any treasurer or other custodian of public funds may deposit those funds into demand deposit accounts. Excludes those deposits from statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits, and to the pledging of collateral by a bank to secure public deposits, if (i) the public agency initiates the investment at or through a bank located in Illinois and (ii) the invested public funds are at all times fully insured by an agency or instrumentality of the federal government. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "98th"
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identifier: "SB 1812"
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citation: "Illinois SB 1812 (98th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 29
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vote_count: 2
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first_action: "2013-02-15"
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last_action: "2014-07-07"
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source: "openstates"
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source_identifier: "ocd-bill/e577d0a8-49ed-41dd-abe3-e067f036f96e"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1812&GAID=12&DocTypeID=SB&LegId=72735&SessionID=85&GA=98"
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source_hash: "ca6e802300a9efcaccc47a80eb2e6a90ec6d2ea031a4e8c3f27dd1787685617f"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 1812 (98th) — FINANCE-DEMAND DEPOST ACCTS
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Amends the Public Funds Deposit Act. Provides that, in addition to other investments permitted by law, any treasurer or other custodian of public funds may deposit those funds into demand deposit accounts. Excludes those deposits from statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits, and to the pledging of collateral by a bank to secure public deposits, if (i) the public agency initiates the investment at or through a bank located in Illinois and (ii) the invested public funds are at all times fully insured by an agency or instrumentality of the federal government. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1812&GA=98&SessionId=85&DocTypeId=SB&LegID=72735&DocNum=1812&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1812eng&GA=98&SessionId=85&DocTypeId=SB&LegID=72735&DocNum=1812&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800SB1812enr&GA=98&SessionId=85&DocTypeId=SB&LegID=72735&DocNum=1812&GAID=12&Session=&print=true)
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## Votes
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- Third Reading — **110–1** (pass) · lower
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- Third Reading — **50–0** (pass) · upper
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## Sponsors
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- Terry Link — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-15** Filed with Secretary by Sen. Terry Link `filing`
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- **2013-02-15** First Reading `reading-1`
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- **2013-02-15** Referred to Assignments `referral-committee`
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- **2013-02-27** Assigned to Financial Institutions `referral-committee`
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- **2013-03-06** Do Pass Financial Institutions; 010-000-000 `committee-passage`
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- **2013-03-06** Placed on Calendar Order of 2nd Reading March 7, 2013
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- **2013-03-13** Second Reading `reading-2`
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- **2013-03-13** Placed on Calendar Order of 3rd Reading March 14, 2013
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- **2013-04-12** Added as Chief Co-Sponsor Sen. Michael Connelly
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- **2013-04-12** Third Reading - Passed; 050-000-000 `reading-3, passage`
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- **2013-04-12** Arrived in House `introduction`
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- **2013-04-15** Chief House Sponsor Rep. Rich Brauer
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- **2013-04-15** First Reading `reading-1`
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- **2013-04-15** Referred to Rules Committee `referral-committee`
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- **2014-01-28** Assigned to State Government Administration Committee `referral-committee`
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- **2014-02-05** Do Pass / Short Debate State Government Administration Committee; 020-000-000 `committee-passage`
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- **2014-02-05** Placed on Calendar 2nd Reading - Short Debate
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- **2014-02-25** Second Reading - Short Debate `reading-2`
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- **2014-02-25** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2014-04-09** Added Alternate Chief Co-Sponsor Rep. Frank J. Mautino
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- **2014-04-09** Added Alternate Chief Co-Sponsor Rep. David R. Leitch
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- **2014-04-09** Added Alternate Chief Co-Sponsor Rep. Tom Demmer
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- **2014-04-09** Added Alternate Chief Co-Sponsor Rep. André M. Thapedi
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- **2014-04-09** Third Reading - Short Debate - Passed 110-001-001 `reading-3, passage`
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- **2014-04-09** Passed Both Houses
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- **2014-05-08** Sent to the Governor `executive-receipt`
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- **2014-07-07** Governor Approved `executive-signature`
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- **2014-07-07** Effective Date July 7, 2014
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- **2014-07-07** Public Act . . . . . . . . . 98-0703 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e577d0a8-49ed-41dd-abe3-e067f036f96e`. Confidence: reported (aggregated from official Illinois legislature records).
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