Amends the State Revenue Sharing Act. Makes a technical change in a Section concerning the short title.
Senate Floor Amendment No. 1: Replaces everything after the enacting clause. Amends the Public Funds Investment Act. Provides that a public agency may adopt an ordinance or resolution to allow for investment of public funds in instruments that are not specifically listed as authorized investments if those investments comply with (i) any other law that authorizes public agencies to invest funds and (ii) the investment policy adopted by the public agency.
Senate Floor Amendment No. 2: Makes changes to the bill as amended by Senate Amendment No. 1 to further amend the Public Funds Investment Act. Provides that a public agency may invest public funds in obligations of certain corporations organized in the United States if those obligations mature more than 270 days but less than 10 years (currently, 3 years) from the date of purchase.

Statutes affected:
Introduced: 30 ILCS 115/0
Engrossed: 30 ILCS 235/2
Enrolled: 30 ILCS 235/2
Public Act: 30 ILCS 235/2