Illinois General Assembly - Bill Status for SB3157
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 Bill Status of SB3157  103rd General Assembly

Short Description:  NON-PROFIT INVESTMENT POOL

Senate Sponsors
Sen. Adriane Johnson - Christopher Belt, Javier L. Cervantes, Mike Porfirio, John F. Curran, Emil Jones, III, Linda Holmes, Rachel Ventura, Jil Tracy, Mary Edly-Allen, Cristina Castro, Ram Villivalam, Celina Villanueva, Michael W. Halpin and David Koehler

House Sponsors
(Rep. Rita Mayfield - Barbara Hernandez - Jenn Ladisch Douglass - Diane Blair-Sherlock - Marcus C. Evans, Jr., Camille Y. Lilly, Thaddeus Jones, Bob Morgan, Theresa Mah, Sue Scherer, Dagmara Avelar, Mary Beth Canty, Laura Faver Dias, Maura Hirschauer, Gregg Johnson and Maurice A. West, II)

Hearings
State Government Administration Committee Hearing May 1 2024 2:00PM Capitol Building Room 118 Springfield, IL


Last Action
DateChamber Action
  4/15/2024HouseAssigned to State Government Administration Committee

Statutes Amended In Order of Appearance
15 ILCS 505/10from Ch. 130, par. 10
15 ILCS 505/17.2 new
30 ILCS 237/10


Synopsis As Introduced
Amends the State Treasurer Act. Provides that the State Treasurer may establish and administer a non-profit investment pool to supplement and enhance investment opportunities otherwise available to not-for-profit corporations in the State. Provides that the Treasurer may receive funds paid into the pool for the purpose of holding and investing those funds. Provides for surety bonds payable to not-for-profit corporations who participate in the pool. Makes changes to provisions concerning the direct deposit of State payments. Amends the Accountability for the Investment of Public Funds Act. Provides that the Treasurer shall adopt rules for the efficient administration of the pool. 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.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes. Provides that the State Treasurer may establish an electronic payment processing program to supplement and enhance secure electronic payment options otherwise available to not-for-profit corporations in the State. Provides that the State Treasurer may receive funds paid into the non-profit investment pool by a not-for-profit corporation that is exempt from taxation under Section 501(c)(3), 501(c)(4), or 501(c)(6) of the Internal Revenue Code (rather than Section 501(c) of the Internal Revenue Code).

Senate Floor Amendment No. 2
Provides that the State Treasurer may receive funds paid into the non-profit investment pool by a not-for-profit corporation that is exempt from taxation under Section 501(c)(5) of the Internal Revenue Code for the purpose of holding and investing those funds.

Actions 
DateChamber Action
  2/6/2024SenateFiled with Secretary by Sen. Adriane Johnson
  2/6/2024SenateFirst Reading
  2/6/2024SenateReferred to Assignments
  2/14/2024SenateAssigned to Financial Institutions
  3/6/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Adriane Johnson
  3/6/2024SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/12/2024SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/12/2024SenateSenate Committee Amendment No. 1 Adopted
  3/13/2024SenateDo Pass as Amended Financial Institutions; 005-002-000
  3/13/2024SenatePlaced on Calendar Order of 2nd Reading March 14, 2024
  3/13/2024SenateAdded as Co-Sponsor Sen. Javier L. Cervantes
  3/13/2024SenateAdded as Co-Sponsor Sen. Mike Porfirio
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/5/2024SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Adriane Johnson
  4/5/2024SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/9/2024SenateSenate Floor Amendment No. 2 Assignments Refers to Financial Institutions
  4/9/2024SenateAdded as Co-Sponsor Sen. John F. Curran
  4/10/2024SenateSenate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 006-000-000
  4/10/2024SenateAdded as Co-Sponsor Sen. Emil Jones, III
  4/10/2024SenateAdded as Co-Sponsor Sen. Linda Holmes
  4/10/2024SenateRecalled to Second Reading
  4/10/2024SenateSenate Floor Amendment No. 2 Adopted
  4/10/2024SenatePlaced on Calendar Order of 3rd Reading
  4/10/2024SenateThird Reading - Passed; 059-000-000
  4/10/2024SenateAdded as Co-Sponsor Sen. Rachel Ventura
  4/10/2024SenateAdded as Co-Sponsor Sen. Jil Tracy
  4/10/2024SenateAdded as Co-Sponsor Sen. Mary Edly-Allen
  4/10/2024SenateAdded as Co-Sponsor Sen. Cristina Castro
  4/10/2024SenateAdded as Co-Sponsor Sen. Ram Villivalam
  4/10/2024SenateAdded as Co-Sponsor Sen. Celina Villanueva
  4/10/2024HouseArrived in House
  4/11/2024HouseChief House Sponsor Rep. Rita Mayfield
  4/11/2024SenateAdded as Chief Co-Sponsor Sen. Christopher Belt
  4/11/2024SenateAdded as Co-Sponsor Sen. Michael W. Halpin
  4/11/2024HouseFirst Reading
  4/11/2024HouseReferred to Rules Committee
  4/11/2024SenateAdded as Co-Sponsor Sen. David Koehler
  4/15/2024HouseAssigned to State Government Administration Committee
  4/16/2024HouseAdded Alternate Co-Sponsor Rep. Camille Y. Lilly
  4/16/2024HouseAdded Alternate Co-Sponsor Rep. Thaddeus Jones
  4/16/2024HouseAdded Alternate Chief Co-Sponsor Rep. Jenn Ladisch Douglass
  4/16/2024HouseAdded Alternate Chief Co-Sponsor Rep. Diane Blair-Sherlock
  4/16/2024HouseAdded Alternate Chief Co-Sponsor Rep. Marcus C. Evans, Jr.
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Bob Morgan
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Theresa Mah
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Sue Scherer
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Dagmara Avelar
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Mary Beth Canty
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Laura Faver Dias
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Maura Hirschauer
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Gregg Johnson
  4/18/2024HouseAdded Alternate Chief Co-Sponsor Rep. Barbara Hernandez
  4/18/2024HouseAdded Alternate Co-Sponsor Rep. Maurice A. West, II

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