Illinois Compiled Statutes
Chapter 15 - EXECUTIVE OFFICERS
15 ILCS 520/ - Deposit of State Moneys Act.

(15 ILCS 520/0.01) (from Ch. 130, par. 19m)
Sec. 0.01.
Short title.
This Act may be cited as the
Deposit of State Moneys Act.

(Source: P.A. 86-1324.)
 
(15 ILCS 520/1) (from Ch. 130, par. 20)
Sec. 1.
The State Treasurer shall deposit all
moneys received by him or her on account of the State within five days after
receiving the same in such financial institutions of
the State as may be authorized to
receive such deposits under the terms of this Act. The money so deposited
shall be placed to the account of the State Treasurer.
No financial institution
shall receive public funds as
permitted by this Act, unless it has complied with the requirements
established pursuant to this Act.
For purposes of this Act, the term "financial institution"
shall be deemed to include a bank, a savings and loan association, a savings bank, a credit union, a minority depository institution as designated by the Federal Deposit Insurance Corporation, or a community development financial institution certified by the United States Treasury Community Development Financial Institutions Fund, which is operating in the State of Illinois.
The State Treasurer may require financial institutions to submit sworn statements of resources and liabilities that are required to be furnished to any regulatory or licensing entity, and reports of any examination prepared by or submitted to any regulatory or licensing entity. All records submitted by a financial institution pursuant to this Section shall remain confidential in accordance with applicable laws.
The State Treasurer may accept as security for public funds deposited in a financial institution any securities or other eligible collateral authorized by this Act. The State Treasurer is authorized to enter into an agreement with any financial institution, or trust company, or with any agency of the U.S. government relating to the deposit of such assets or securities. The State Treasurer shall be discharged from responsibility for any funds for which assets or securities are so deposited with him or her, and the funds for which securities are so deposited shall not be subject to any otherwise applicable limitation as to amount.
This Act shall govern the deposit of State moneys for all public funds under the custody or control of the State Treasurer.
(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/1.1) (from Ch. 130, par. 20.1)
Sec. 1.1.
When investing or depositing public funds, each custodian
shall, to the extent permitted by this Act and by the lawful and reasonable
performance of his custodial duties, invest or deposit such funds with or
in minority-owned financial institutions within this State. For the purposes of this Section, "minority-owned financial institutions" means a financial institution with 51% or more of the stock or equity of the business owned by women, minority persons, military veterans, qualified service-disabled veteran-owned, or persons with disabilities as defined in Section 2 of the Business Enterprise for Minorities, Women, and Persons with Disabilities Act and Section 45-57 of the Illinois Procurement Code.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/1.2)
Sec. 1.2. (Repealed).


(Source: P.A. 88-93. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/2) (from Ch. 130, par. 21)
Sec. 2.
All financial institutions in which any such
money is deposited shall be required to
pay interest.
All interest received or paid on account of money in the State Treasury
belonging to or for the use of the State so deposited in financial institutions shall be
the property of the State of Illinois. If any moneys held by the State
Treasurer shall be deposited in financial institutions
pursuant to the provisions of
this Act, the interest received thereon
shall be credited as provided in Section 4.1 of the State Finance Act.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/3)
Sec. 3. (Repealed).


(Source: P.A. 89-508, eff. 7-3-96. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/4)
Sec. 4. (Repealed).


(Source: P.A. 83-541. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/5)
Sec. 5. (Repealed).


(Source: P.A. 83-541. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/6)
Sec. 6. (Repealed).


(Source: P.A. 89-508, eff. 7-3-96. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/7) (from Ch. 130, par. 26)
Sec. 7. (a) State depositories. The State Treasurer may, in his or her discretion, allow a financial institution to become a State depository. To become an approved State depository, a financial institution shall submit an application or proposal, along with all required forms and documentation, in a manner prescribed by the Treasurer.
In order to receive funds under this Section, a financial institution must become a State depository. Prior to allowing a financial institution to become a State depository, the State Treasurer shall consider the financial institution's financial condition and community and economic development efforts.
All applications submitted pursuant to this Section will be reviewed in accordance with the terms defined by the program documents and in the respective application and related documents.
(b) Linked deposits. The State Treasurer may, in his or her
discretion, accept a proposal or application from a financial institution which provides
for a reduced rate of interest provided that the financial institution uses the deposited funds for the purpose of economic and community development in the State of Illinois, which may include, but not be limited to loans for the following: agriculture, business, individuals, and community development. Financial institutions, and, in some cases borrowers, that utilize linked deposit funds shall provide documentation regarding the use of such funds in a manner prescribed by the Treasurer.
(b-5) (Blank).
(b-10) (Blank).
(b-15) Access to capital. The State Treasurer may, in his or her discretion, accept a proposal or application from a financial institution for access to capital at market rate to provide added liquidity or administer lending activities in the State of Illinois.
(c) Home loans. The State Treasurer may, in his or her discretion, accept a proposal or application
from a financial institution that provides for interest earnings on deposits
of State moneys to be held by the financial institution in a separate account that the
State Treasurer may use to secure up to 10% of any (i) home loans to Illinois
citizens purchasing or refinancing a home in Illinois in situations where the participating
financial institution would not offer the borrower a home loan under the financial
institution's prevailing credit standards without the incentive of the 10% guarantee for the first 5 years of the loan, (ii) existing home loans of
Illinois citizens who have failed to make payments on a home loan as a result
of a financial hardship due to circumstances beyond the control of the borrower
where there is a reasonable prospect that the borrower will be able to resume
full mortgage payments, and (iii) loans in amounts that do not exceed the
amount of arrearage on a mortgage and that are extended to enable a borrower
to become current on his or her mortgage obligation.
The following factors shall be considered by the participating financial
institution to determine whether the financial hardship is due to circumstances
beyond the control of the borrower: (i) loss, reduction, or delay in the
receipt of income because of the death or disability of a person who
contributed to the household income, (ii) expenses actually incurred related to
the uninsured damage or costly repairs to the mortgaged premises affecting its
habitability, (iii) expenses related to the death or illness in the borrower's
household or of family members living outside the household that reduce the
amount of household income, (iv) loss of income or a substantial increase in
total housing expenses because of divorce, abandonment, separation from a
spouse, or failure to support a spouse or child, (v) unemployment or
underemployment, (vi) loss, reduction, or delay in the receipt of federal,
State, or other government benefits, and (vii) participation by the homeowner
in a recognized labor action such as a strike. In determining whether there is
a reasonable prospect that the borrower will be able to resume full mortgage
payments, the
participating financial institution shall consider factors including, but not
necessarily limited to the following: (i) a favorable work and credit history,
(ii) the borrower's ability to and history of paying the mortgage when
employed, (iii) the lack of an impediment or disability that prevents
reemployment, (iv) new education and training opportunities, (v) non-cash
benefits that may reduce household expenses, and (vi) other debts.
For the purposes of this Section, "home loan" means a loan, other than an
open-end credit plan or a reverse mortgage transaction, for which (i) the
principal amount of the loan does not exceed the conforming loan size
limit as established from time to time by the
Federal National Mortgage Association, (ii) the borrower is a natural person,
(iii) the debt is incurred by the borrower primarily for personal, family, or
household purposes, and (iv) the loan is secured by a mortgage or deed of trust
on real estate upon which there is located or there is to be located a
structure designed principally for the occupancy of no more than 4
families and that is or
will be occupied by the borrower as the borrower's principal dwelling.
(d) If there is an
agreement between the State Treasurer and an eligible institution that details
the use of deposited funds, the agreement may not require the gift of money,
goods, or services to a third party; this provision does not restrict the
eligible institution from contracting with third parties in order to carry out
the intent of the agreement or restrict the State Treasurer from placing
requirements upon third-party contracts entered into by the eligible
institution.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/8) (from Ch. 130, par. 27)
Sec. 8.
All proposals and applications shall be retained by the State Treasurer in accordance with the State Treasurer's approved record retention policy,
and shall be open at all reasonable hours to public inspection. The State
Treasurer shall maintain a current list of the financial institutions serving as State depositories
of public moneys, with a statement of the rate of interest
paid by each and the maturity date of such deposits, which list shall
likewise be open to public inspection and shall be updated and posted on the State Treasurer's official website.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/9) (from Ch. 130, par. 28)
Sec. 9.
The approval of any proposal or application shall confer no right upon any financial institution to
receive deposits of public money.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/10) (from Ch. 130, par. 29)
Sec. 10.
The State Treasurer may enter into an agreement in conformity
with this Act with any financial institution
relating to
the deposit of securities. Such agreement may authorize the holding
by such financial institution of such securities in custody
and safekeeping solely under the instructions of the State Treasurer either
(a) in the office of such financial institution, or under the custody and safekeeping of another financial institution in this State for the
depository financial institution, or (b) in a bank or a depository trust company
in the United States if the securities to be deposited are held in custody and safekeeping for such financial institution.

(Source: P.A. 101-206, eff. 8-2-19; 102-297, eff. 8-6-21; 102-558, eff. 8-20-21.)
 
(15 ILCS 520/11) (from Ch. 130, par. 30)
Sec. 11. Protection of public deposits; eligible collateral.
(a) For deposits not insured by an agency of the federal government, or above the applicable insured limits,
the State Treasurer, in his or her discretion, may accept as collateral any
of the
following assets or securities, provided there has been no default in the
payment of principal or interest thereon:
(b) The State Treasurer may establish a system to aggregate permissible assets or
securities received as collateral from financial institutions in a
collateral pool to secure State deposits of the institutions that have
pledged assets or securities to the pool.
(c) The State Treasurer may at any time declare any particular asset or security
ineligible to qualify as collateral when, in the Treasurer's judgment, it
is deemed desirable to do so.
(d) Notwithstanding any other provision of this Section, as security the
State Treasurer may, in his discretion, accept a bond, executed by a company
authorized to transact the kinds of business described in clause (g) of
Section 4 of the Illinois Insurance Code, in an amount not less than the
amount of the deposits required by this Section to be secured, payable to the
State Treasurer for the benefit of the People of the State of Illinois, in
a form that is acceptable to the State Treasurer.

(Source: P.A. 101-206, eff. 8-2-19; 102-297, eff. 8-6-21.)
 
(15 ILCS 520/11.1) (from Ch. 130, par. 30.1)
Sec. 11.1.

The State Treasurer may, in his or her discretion, accept as
security for State deposits insured certificates of deposit or share
certificates issued to the depository institution pledging them as security
and may require security in the amount of 125% of the value of the State
deposit. Such certificate of deposit or share certificate shall:
The depository institution shall effect the assignment of the certificate
of deposit or share certificate to the State Treasurer and shall agree,
that in the event the issuer of the certificate fails to maintain the
capital to asset ratio required by this Section, such certificate of deposit
or share certificate shall be replaced by additional suitable security.

(Source: P.A. 93-561, eff. 1-1-04.)
 
(15 ILCS 520/12) (from Ch. 130, par. 31)
Sec. 12.
All assets or securities deposited by financial institutions under the provisions of
this Act shall remain the property of the financial institutions
depositing such securities.
Should the depository refuse or fail to pay over the moneys, or any part
thereof, deposited with it when due and payable, the State Treasurer may
sell such securities in accordance with the terms of any agreement between
the State Treasurer and the depository financial institution
or, if applicable, institute suit on the bond.
If a depository fails or
suspends active operations, the deposit in such depository shall become due
and payable immediately, any agreement or contract to the contrary
notwithstanding. Such sale shall transfer absolute ownership of the
securities so sold to the vendee thereof. The surplus, if any, over the
amount due to the State and the expenses of the sale shall be paid to the depository. Actions may be brought in the name of the People of the State
of Illinois to enforce the claims of the State with respect to any assets or
securities deposited by an approved financial institution.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/13)
Sec. 13. (Repealed).


(Source: P.A. 83-541. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/14) (from Ch. 130, par. 33)
Sec. 14. Interest. The State Treasurer shall enter into deposit agreements with
financial institutions specifying the manner of interest calculation and
compounding and the frequency of interest collection regarding moneys deposited
under this Act.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/15) (from Ch. 130, par. 34)
Sec. 15.
(a) A financial institution approved as a State depository
shall cease to be an approved depository financial institution, and shall be disqualified by the State Treasurer:
(b) No approved depository shall be disqualified by the State
Treasurer solely by reason of its acquisition by another institution, unless the acquiring institution does not meet the criteria established by the State Treasurer.
(c) An approved depository may be disqualified by the State Treasurer, in his or her sole discretion, for violating the terms of the deposit agreement or any contract or agreement with the State Treasurer.
(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/16)
Sec. 16. (Repealed).


(Source: P.A. 102-558, eff. 8-20-21. Repealed by P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/16.1) (from Ch. 130, par. 35.1)
Sec. 16.1.
Depository reports.
The State Treasurer may request, at
his discretion, a financial institution, as a condition to serving as a
State depository of public funds, to submit to the State Treasurer a copy
of the consolidated report of condition and income required to be submitted
on a periodic basis to a state or federal regulator of the financial
institution and a copy of the financial institution's Community
Reinvestment Act statement and examination, if available. Nothing in this
Section, however, shall require a financial institution to submit any
document or part thereof deemed to be confidential by a State or federal
regulator of the financial institution.

(Source: P.A. 87-510.)
 
(15 ILCS 520/16.3)
Sec. 16.3.
Consideration of financial institution's commitment to its
community.
(a) In addition to any other
requirements of this Act, the State Treasurer shall consider the
financial
institution's record and current level of financial commitment to its local
community when deciding whether to deposit State funds in that financial
institution. The State Treasurer may consider factors including, but not
necessarily limited to:
(a-5) Effective January 1, 2022, no State funds may be deposited in a financial institution subject to the federal Community Reinvestment Act of 1977 unless the institution has a current rating of satisfactory or outstanding under the Community Reinvestment Act of 1977.
(a-10) When investing or depositing State funds, the State Treasurer may give preference to financial institutions that have a current rating of outstanding under the federal Community Reinvestment Act of 1977.
(b) Nothing in this Section shall be construed as authorizing the State
Treasurer to conduct an examination or investigation of a financial institution
or to receive information that is not publicly available and the disclosure of
which is otherwise prohibited by law.

(Source: P.A. 101-657, eff. 3-23-21.)
 
(15 ILCS 520/17) (from Ch. 130, par. 36)
Sec. 17.
The State Treasurer shall keep in his or her office a record showing his or her
account with each financial institution,
with entries therein showing the dates and
amounts of each deposit, rate of interest, withdrawals and date of each,
and balance on deposit. Each account shall show the date and amount of
interest received during each interest paying period. Such record shall at
all times be open to public inspection.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/18) (from Ch. 130, par. 37)
Sec. 18.
The State Treasurer shall make a monthly report
giving a detailed statement of the balances on deposit in the financial institutions, and the amount paid by each
such financial institution as interest on moneys so
deposited. Such statement shall contain the name of each financial institution, and the
amount in such financial institution subject to draft
at the close of business on the last
day of the month for which the report is made, and on the last day of the
month next preceding. A copy of such report shall be retained by the State
Treasurer and shall be made available for inspection by the public at any
reasonable time. The State Treasurer may satisfy the requirements of this Section by posting the monthly report on the State Treasurer's official website.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/19) (from Ch. 130, par. 38)
Sec. 19.
Nothing in this Act contained shall be held to prevent the State
Treasurer from withdrawing any, or all, of the moneys so deposited, for the
purpose of paying the appropriations and obligations of the State, nor to
prevent his or her transferring moneys from one financial institution
to another, and nothing
herein contained shall in any way affect the duty of the State Treasurer to
keep a correct and accurate account of all moneys received and to pay out
same only on authority of law; but the State Treasurer shall, as
heretofore, be personally responsible for the faithful accounting of all
moneys paid to him or her as State Treasurer.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/20) (from Ch. 130, par. 39)
Sec. 20.
No financial institution
holding moneys deposited therewith
by the State Treasurer, in accordance with the provisions of this Act, or
otherwise, and no officer of any such financial institution,
or other person, shall pay to,
withhold for the benefit of, or contract in any manner for the payment to
such State Treasurer, or to any other person for him or her, of any interest, or
other fee, perquisite, or emolument, on account of the deposit of such
moneys, except such interest as shall be paid to such State Treasurer for
the benefit of the State.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/21) (from Ch. 130, par. 40)
Sec. 21.


The making of a personal profit or emolument by the State Treasurer out
of any public moneys by loaning, depositing, or otherwise using or
disposing of the same in any manner whatsoever, shall be deemed a Class 3
felony.

(Source: P.A. 77-2610.)
 
(15 ILCS 520/22) (from Ch. 130, par. 41)
Sec. 22.

No securities deposited with the State Treasurer shall be removed from
the State Treasury except under the terms of this Act. The misappropriation
or use of such securities, otherwise than as prescribed in this Act, shall
be deemed a Class 3 felony. The State Treasurer shall be liable upon his
official bond for any loss or misappropriation of securities so deposited.

(Source: P.A. 102-297, eff. 8-6-21.)
 
(15 ILCS 520/22.5) (from Ch. 130, par. 41a)
(For force and effect of certain provisions, see Section 90 of P.A. 94-79)
Sec. 22.5. Permitted investments. The State Treasurer may invest and reinvest any State money in the State Treasury
which is not needed for current expenditures due or about to become due, in
obligations of the United States government or its agencies or of National
Mortgage Associations established by or under the National Housing Act, 12
U.S.C. 1701 et seq., or
in mortgage participation certificates representing undivided interests in
specified, first-lien conventional residential Illinois mortgages that are
underwritten, insured, guaranteed, or purchased by the Federal Home Loan
Mortgage Corporation or in Affordable Housing Program Trust Fund Bonds or
Notes as defined in and issued pursuant to the Illinois Housing Development
Act. All such obligations shall be considered as cash and may
be delivered over as cash by a State Treasurer to his successor.
The State Treasurer may purchase
any state bonds with any money in the State Treasury that has been set
aside and held for the payment of the principal of and interest on the
bonds. The bonds shall be considered as cash and may be delivered over
as cash by the State Treasurer to his successor.
The State Treasurer may invest or
reinvest any State money in the State Treasury
that is not needed for current expenditures due or about to become
due, or any money in the State Treasury that has been set aside and
held for the payment of the principal of and interest on any State
bonds, in bonds issued by counties or municipal corporations of the
State of Illinois.
The State Treasurer may invest or reinvest up to 5% of the College Savings Pool Administrative Trust Fund, the Illinois Public Treasurer Investment Pool (IPTIP) Administrative Trust Fund, and the State Treasurer's Administrative Fund that is not needed for current expenditures due or about to become due, in common or preferred stocks of publicly traded corporations, partnerships, or limited liability companies, organized in the United States, with assets exceeding $500,000,000 if: (i) the purchases do not exceed 1% of the corporation's or the limited liability company's outstanding common and preferred stock; (ii) no more than 10% of the total funds are invested in any one publicly traded corporation, partnership, or limited liability company; and (iii) the corporation or the limited liability company has not been placed on the list of restricted companies by the Illinois Investment Policy Board under Section 1-110.16 of the Illinois Pension Code.
Whenever the total amount of vouchers presented to the Comptroller under Section 9 of the State Comptroller Act exceeds the funds available in the General Revenue Fund by $1,000,000,000 or more, then the State Treasurer may invest any State money in the State Treasury, other than money in the General Revenue Fund, Health Insurance Reserve Fund, Attorney General Court Ordered and Voluntary Compliance Payment Projects Fund, Attorney General Whistleblower Reward and Protection Fund, and Attorney General's State Projects and Court Ordered Distribution Fund, which is not needed for current expenditures, due or about to become due, or any money in the State Treasury which has been set aside and held for the payment of the principal of and the interest on any State bonds with the Office of the Comptroller in order to enable the Comptroller to pay outstanding vouchers. At any time, and from time to time outstanding, such investment shall not be greater than $2,000,000,000. Such investment shall be deposited into the General Revenue Fund or Health Insurance Reserve Fund as determined by the Comptroller. Such investment shall be repaid by the Comptroller with an interest rate tied to the London Interbank Offered Rate (LIBOR) or the Federal Funds Rate or an equivalent market established variable rate, but in no case shall such interest rate exceed the lesser of the penalty rate established under the State Prompt Payment Act or the timely pay interest rate under Section 368a of the Illinois Insurance Code. The State Treasurer and the Comptroller shall enter into an intergovernmental agreement to establish procedures for such investments, which market established variable rate to which the interest rate for the investments should be tied, and other terms which the State Treasurer and Comptroller reasonably believe to be mutually beneficial concerning these investments by the State Treasurer. The State Treasurer and Comptroller shall also enter into a written agreement for each such investment that specifies the period of the investment, the payment interval, the interest rate to be paid, the funds in the State Treasury from which the State Treasurer will draw the investment, and other terms upon which the State Treasurer and Comptroller mutually agree. Such investment agreements shall be public records and the State Treasurer shall post the terms of all such investment agreements on the State Treasurer's official website. In compliance with the intergovernmental agreement, the Comptroller shall order and the State Treasurer shall transfer amounts sufficient for the payment of principal and interest invested by the State Treasurer with the Office of the Comptroller under this paragraph from the General Revenue Fund or the Health Insurance Reserve Fund to the respective funds in the State Treasury from which the State Treasurer drew the investment. Public Act 100-1107 shall constitute an irrevocable and continuing authority for all amounts necessary for the payment of principal and interest on the investments made with the Office of the Comptroller by the State Treasurer under this paragraph, and the irrevocable and continuing authority for and direction to the Comptroller and State Treasurer to make the necessary transfers.
The State Treasurer may invest or
reinvest any State money in the State Treasury that is not needed for current
expenditure, due or about to become due, or any money in the State Treasury
that has been set aside and held for the payment of the principal of and
the interest on any State bonds, in any of the following:
For purposes of this Section, "agencies" of the United States
Government includes:
The State Treasurer may lend any securities
acquired under this Act. However, securities may be lent under this Section
only in accordance with Federal Financial Institution Examination Council
guidelines and only if the securities are collateralized at a level sufficient
to assure the safety of the securities, taking into account market value
fluctuation. The securities may be collateralized by cash or collateral
acceptable under Sections 11 and 11.1.

(Source: P.A. 101-81, eff. 7-12-19; 101-206, eff. 8-2-19; 101-586, eff. 8-26-19; 101-657, eff. 3-23-21; 102-297, eff. 8-6-21; 102-558, eff. 8-20-21; 102-813, eff. 5-13-22.)
 
(15 ILCS 520/22.6)
Sec. 22.6. (Repealed).


(Source: P.A. 94-79, eff. 1-27-06. Repealed by P.A. 95-521, eff. 8-28-07.)
 
(15 ILCS 520/22.7)
Sec. 22.7. Russian or Belarusian investments prohibited. Notwithstanding any provision of law to the contrary, the State Treasurer shall not invest State money in Russian or Belarusian sovereign debt, Russian or Belarusian government-backed securities, any investment instrument issued by an entity that is domiciled or has its principal place of business in Russia or Belarus, or any investment instrument issued by a company that is subject to Russian Harmful Foreign Activities Sanctions, as that term is defined under Section 1-110.16 of the Illinois Pension Code, and shall not invest or deposit State money in any bank that is domiciled or has its principal place of business in Russia or Belarus or in any other financial institution that is domiciled or has its principal place of business in Russia or Belarus or that is subject to Russian Harmful Foreign Activities Sanctions.

(Source: P.A. 102-1108, eff. 12-21-22.)
 
(15 ILCS 520/22.8)
Sec. 22.8.
The State Treasurer shall develop, publish, and implement an
investment policy covering the management of all State funds under his or her
control. The investment policy shall be published each year in the State Treasurers'
annual report as prescribed in Section 15 of the State Treasurer Act (15 ILCS
505/15). The policy shall also be published at least once each year in at
least one newspaper of general circulation in both Springfield and Chicago and published on the State Treasurer's official website.
Any such investment policy adopted by the State Treasurer shall be reviewed, and
updated if necessary, within 90 days following the installation of a new State
Treasurer.
The investment policy shall include material, relevant, and decision-useful sustainability factors to be considered by the State Treasurer in evaluating investment decisions, including, but not limited to: (1) corporate governance and leadership factors; (2) environmental factors; (3) social capital factors; (4) human capital factors; and (5) business model and innovation factors, as provided under the Illinois Sustainable Investing.
(Source: P.A. 101-473, eff. 1-1-20; 102-297, eff. 8-6-21.)
 
(15 ILCS 520/22.9)
Sec. 22.9. (Repealed).

(Source: P.A. 96-1181, eff. 7-22-10. Repealed internally, eff. 12-31-11.)
 
(15 ILCS 520/23) (from Ch. 130, par. 42)
Sec. 23.
Any State official or other person who willfully violates any
provision of this Act, for which a penalty is not otherwise prescribed, or
who willfully neglects or refuses to perform any duty imposed upon such
person by the terms of this Act, shall be guilty of a Class 4 felony.

(Source: P.A. 102-297, eff. 8-6-21.)

Structure Illinois Compiled Statutes