Fabio
90 lines
5.5 KiB
Markdown
90 lines
5.5 KiB
Markdown
---
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type: "Bill"
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title: "PUBLIC FUNDS-INVESTMENT"
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description: "Amends the Public Funds Investment Act. Provides that whenever a public agency invests public funds in an interest-bearing savings account, interest-bearing certificate of deposit, or interest-bearing time deposit, the statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits or to the pledging of collateral by a bank to secure public deposits do not apply to any bank receiving or holding all or part of the invested public funds if (i) the public agency initiates the investment at or through a bank having its main office in Illinois and (ii) the invested public funds are at all time 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: "93rd"
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identifier: "HB 4495"
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citation: "Illinois HB 4495 (93rd)"
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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: 30
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vote_count: 2
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first_action: "2004-02-03"
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last_action: "2004-07-16"
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source: "openstates"
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source_identifier: "ocd-bill/0256ec9f-434b-4043-b474-4ee3058540e1"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=4495&GAID=3&DocTypeID=HB&LegId=8936&SessionID=3&GA=93"
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source_hash: "66d844fb7fded45407dce6f88dc490232614949ec75b2793d85da12524539755"
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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 HB 4495 (93rd) — PUBLIC FUNDS-INVESTMENT
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Amends the Public Funds Investment Act. Provides that whenever a public agency invests public funds in an interest-bearing savings account, interest-bearing certificate of deposit, or interest-bearing time deposit, the statutory requirements pertaining to the eligibility of a bank to receive or hold public deposits or to the pledging of collateral by a bank to secure public deposits do not apply to any bank receiving or holding all or part of the invested public funds if (i) the public agency initiates the investment at or through a bank having its main office in Illinois and (ii) the invested public funds are at all time 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=09300HB4495&GA=93&SessionId=3&DocTypeId=HB&LegID=8936&DocNum=4495&GAID=3&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB4495eng&GA=93&SessionId=3&DocTypeId=HB&LegID=8936&DocNum=4495&GAID=3&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB4495enr&GA=93&SessionId=3&DocTypeId=HB&LegID=8936&DocNum=4495&GAID=3&Session=&print=true)
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## Votes
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- Third Reading — **115–0** (pass) · lower
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- Third Reading — **57–0** (pass) · upper
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## Sponsors
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- Joseph M. Lyons — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2004-02-03** Filed with the Clerk by Rep. Joseph M. Lyons `filing`
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- **2004-02-03** First Reading `reading-1`
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- **2004-02-03** Referred to Rules Committee `referral-committee`
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- **2004-02-09** Added Chief Co-Sponsor Rep. Bill Mitchell
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- **2004-02-19** Assigned to Financial Institutions Committee `referral-committee`
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- **2004-03-03** House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee `amendment-introduction`
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- **2004-03-03** House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote `amendment-passage`
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- **2004-03-03** Do Pass as Amended / Short Debate Financial Institutions Committee; 018-000-000 `committee-passage`
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- **2004-03-03** Placed on Calendar 2nd Reading - Short Debate
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- **2004-03-03** Added Chief Co-Sponsor Rep. Thomas Holbrook
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- **2004-03-19** Fiscal Note Filed
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- **2004-03-23** Second Reading - Short Debate `reading-2`
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- **2004-03-23** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2004-03-24** Third Reading - Short Debate - Passed 115-000-001 `reading-3, passage`
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- **2004-03-25** Arrive in Senate `introduction`
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- **2004-03-25** Placed on Calendar Order of First Reading March 26, 2004 `reading-1`
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- **2004-03-26** Chief Senate Sponsor Sen. Terry Link
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- **2004-03-26** First Reading `reading-1`
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- **2004-03-26** Referred to Rules `referral-committee`
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- **2004-04-15** Assigned to Financial Institutions `referral-committee`
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- **2004-04-22** Do Pass Financial Institutions; 008-000-000 `committee-passage`
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- **2004-04-22** Placed on Calendar Order of 2nd Reading April 27, 2004
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- **2004-04-29** Second Reading `reading-2`
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- **2004-04-29** Placed on Calendar Order of 3rd Reading May 4, 2004
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- **2004-05-05** Third Reading - Passed; 057-000-000 `reading-3, passage`
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- **2004-05-05** Passed Both Houses
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- **2004-06-03** Sent to the Governor `executive-receipt`
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- **2004-07-16** Governor Approved `executive-signature`
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- **2004-07-16** Effective Date July 16, 2004
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- **2004-07-16** Public Act . . . . . . . . . 93-0756 `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/0256ec9f-434b-4043-b474-4ee3058540e1`. Confidence: reported (aggregated from official Illinois legislature records).
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