FOIA-FINANCIAL INFORMATION Senate SponsorsSen. Don Harmon-Kirk W. Dillard-Dan Rutherford House Sponsors(Rep. Kurt M. Granberg) 8/8/2005SenatePublic Act . . . . . . . . . 94-0508 5 ILCS 140/7from Ch. 116, par. 207Amends the Freedom of Information Act. In the Act's existing exemption of certain trade secrets and commercial or financial information obtained by a public body from inspection and copying requirements, states that the exemption specifically includes certain information relating to private equity funds.Senate Floor Amendment No. 1 Deletes a provision that certain financial information obtained by a public body concerning a private equity fund is exempt from disclosure only if the disclosure of the information may jeopardize the value of the public body's investment or impair the public body's ability to obtain such information in the course of monitoring current investments or evaluating potential investments. Provides that the exemption concerning the financial information does not apply to the identity of a privately held company within the investment portfolio of a private equity fund, unless the disclosure of the identity of a privately held company may cause competitive harm.Fiscal Note (Dept. of Commerce & Economic Opportunity) Does not impose a fiscal impact on the DCEO. In regard to units of local government, it is anticipated that the legislation will not incur a cost. 1/26/2005SenateFiled with Secretary by Sen. Don Harmon 1/26/2005SenateFirst Reading 1/26/2005SenateReferred to Rules 2/2/2005SenateAdded as Chief Co-Sponsor Sen. Kirk W. Dillard 2/3/2005SenateAssigned to Executive 2/15/2005SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford 2/24/2005SenatePostponed - Executive 3/3/2005SenateDo Pass Executive; 011-000-000 3/3/2005SenatePlaced on Calendar Order of 2nd Reading March 8, 2005 3/10/2005SenateSecond Reading 3/10/2005SenatePlaced on Calendar Order of 3rd Reading March 15, 2005 3/14/2005SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon 3/14/2005SenateSenate Floor Amendment No. 1 Referred to Rules 4/6/2005SenateSenate Floor Amendment No. 1 Rules Refers to Executive 4/7/2005SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 011-000-000 4/11/2005SenateRecalled to Second Reading 4/11/2005SenateSenate Floor Amendment No. 1 Adopted; Harmon 4/11/2005SenatePlaced on Calendar Order of 3rd Reading April 12, 2005 4/14/2005SenateThird Reading - Passed; 059-000-000 4/14/2005HouseArrived in House 4/14/2005HousePlaced on Calendar Order of First Reading 4/14/2005HouseAlternate Chief Sponsor Changed to Rep. Kurt M. Granberg 4/14/2005HouseFirst Reading 4/14/2005HouseReferred to Rules Committee 4/20/2005HouseAssigned to State Government Administration Committee 4/27/2005HouseDo Pass / Short Debate State Government Administration Committee; 009-000-000 4/28/2005HousePlaced on Calendar 2nd Reading - Short Debate 5/5/2005HouseFiscal Note Filed 5/10/2005HouseSecond Reading - Short Debate 5/10/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/18/2005HouseThird Reading - Short Debate - Passed 112-003-000 5/18/2005SenatePassed Both Houses 6/16/2005SenateSent to the Governor 8/8/2005SenateGovernor Approved 8/8/2005SenateEffective Date January 1, 2006 8/8/2005SenatePublic Act . . . . . . . . . 94-0508