STATE MONEY-LINKED DEPOSIT House SponsorsRep. Lance Yednock 1/13/2021HouseSession Sine Die 15 ILCS 520/7from Ch. 130, par. 26 Amends the Deposit of State Moneys Act. Provides that the State Treasurer may allow an eligible financial institution (rather than a bank or savings and loan association) to become a State depository. Provides that State depositories may submit proposals or applications that may be approved or rejected by the State Treasurer. Provides that the State Treasurer may accept a proposal from an eligible financial institution which provides for a reduced rate of interest provided that the financial institution documents the use of deposited funds for specified economic development projects (currently, economic community development projects). Modifies provisions concerning proposals from an eligible 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 specified home loan to Illinois citizens. Removes provisions concerning proposals for a reduced rate of interest with moneys to be expended for specified purposes. Makes conforming changes. Effective immediately. 2/14/2020HouseFiled with the Clerk by Rep. Lance Yednock 2/18/2020HouseFirst Reading 2/18/2020HouseReferred to Rules Committee 3/3/2020HouseAssigned to Revenue & Finance Committee 3/6/2020HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Lance Yednock 3/6/2020HouseHouse Committee Amendment No. 1 Referred to Rules Committee 6/23/2020HouseRule 19(b) / Re-referred to Rules Committee 1/13/2021HouseSession Sine Die