Chicago City Wire

Michael J. Kelly introduced HB1447 in the Illinois House on Jan. 17, 2025, during the general assembly session 104, according to the Illinois General Assembly.

According to the Illinois General Assembly site, the legislature summarized the bill's official text as follows: "Amends the State Treasurer Act. Makes formatting changes. Amends the Accountability for the Investment of Public Funds Act. Provides that each State agency shall make available on the Internet, and update at least monthly, no later than the end of each month (rather than by the 15th of the month), sufficient information concerning the investment of any public funds held by that State agency to identify specified information. Effective immediately."

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill amends the State Treasurer Act and the Accountability for the Investment of Public Funds Act. Under the changes, the Treasurer is allowed to disburse money from the treasury only with the State Comptroller's warrant, except when payments are made to certain entities and individuals, including community-based mental health service providers, pension beneficiaries, public assistance recipients, public agencies, or through direct deposit and electronic fund transfers upon the Treasurer's approval. Additionally, the bill requires state agencies to provide, update monthly, and publicly post online detailed information on the investment of public funds, including the amount held, monthly income and yield, asset allocation, and a list of approved financial entities. This act takes effect upon becoming law.

Michael J. Kelly has proposed another five bills since the beginning of the 104th session.

Kelly graduated from Quincy University with a BA.

Michael J. Kelly is currently serving in the Illinois State House, representing the state's 15th House District. He replaced previous state representative John C. D'Amico in 2021.

Bills in Illinois follow a multi-step legislative process, beginning with introduction in either the House or Senate, followed by committee review, floor debates, and votes in both chambers before reaching the governor for approval or veto. The General Assembly operates on a biennial schedule, and while typically thousands of bills are introduced each session, only a fraction successfully pass through the process to become law.

You can read more about bills and other measures here.

Bill Number	Date Introduced	Short Description
HB1447	01/17/2025	Amends the State Treasurer Act. Makes formatting changes. Amends the Accountability for the Investment of Public Funds Act. Provides that each State agency shall make available on the Internet, and update at least monthly, no later than the end of each month (rather than by the 15th of the month), sufficient information concerning the investment of any public funds held by that State agency to identify specified information. Effective immediately.
HB1392	01/15/2025	Amends the Firemen's Disciplinary Act. Makes a technical change in a Section concerning the short title.
HB1393	01/15/2025	Amends the Public Employee Disability Act. Makes a technical change in a Section concerning the short title.
HB1394	01/15/2025	Amends the Public Safety Employee Benefits Act. Makes a technical change in a Section concerning the short title.
HB1395	01/15/2025	Amends the Line of Duty Compensation Act. Makes a technical change in a Section concerning the short title.
HB1295	01/13/2025	Amends the PFAS Reduction Act. Requires, on or before January 1, 2027, a manufacturer of a product sold, offered for sale, or distributed in the State that contains intentionally added PFAS to submit to the Environmental Protection Agency specified information. Allows the Agency to waive the submission of information required by a manufacturer or extend the amount of time a manufacturer has to submit the required information. Provides that, if the Pollution Control Board has reason to believe that a product contains intentionally added PFAS and the product is being offered for sale in the State, the Board may direct the manufacturer of the product to provide the Board with testing results that demonstrate the amount of each of the PFAS in the product. Provides that, if testing demonstrates that the product does not contain intentionally added PFAS, the manufacturer must provide the Board with a certificate attesting that the product does not contain intentionally added PFAS. Restricts the sale of specified products beginning January 1, 2026 if the product contains intentionally added PFAS. Allows the Agency to establish a fee payable by a manufacturer to the Agency upon submission of the required information to cover the Agency's reasonable costs to implement the provisions. Allows the Agency to coordinate with the Board, the Department of Agriculture, and the Department of Public Health to enforce the provisions. Sets forth products that are exempt from the provisions.