SB 3157

Abstract

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 introduced 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 Treasurer may not receive funds from a not-for-profit organization that expends any of its funding to: (1) advocate for discrimination against any categories of people who are protected under the Illinois Human Rights Act; or (2) impede persons from safely accessing reproductive health care as defined by the Reproductive Health Act that includes advocating for limitations on reproductive health care or by providing misleading information about abortion. House Floor Amendment No. 1 Provides that, in order to be eligible to participate in the non-profit investment pool, the not-for-profit corporation shall provide the Treasurer with a copy of the most recent audited financial statement or charitable organization annual report filed with the Attorney General. House Floor Amendment No. 2 Provides that the Treasurer may not receive funds from a not-for-profit organization that expends any of its funding to: (1) advocate for discrimination against any categories of people who are protected under the Illinois Human Rights Act or (2) impede persons from safely accessing reproductive health care as defined by the Illinois Reproductive Health Act that includes advocating for limitations on reproductive health care or by providing misleading information about abortion.