Bill Title: Creates the State Bank of Illinois Act. Establishes The State Bank of Illinois and the State Bank of Illinois Board. Sets forth the membership of the State Board. Provides that the State Board shall appoint an advisory board of directors. Provides that the State Bank may accept deposits of private funds and public funds. Sets forth the powers of the State Bank. Provides that all deposits in the State Bank are guaranteed by the State. Provides that, whenever any public funds are deposited into the State Bank, the public official who deposited the funds is exempt from liability for loss of the funds while they are deposited in the State Bank. Amends the Freedom of Information Act to provide that certain records of the State Bank are exempt from disclosure.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5010 Detail]

Text: Latest bill text (Introduced) [HTML]

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