Bill Title: Amends the Illinois Prepaid Tuition Act. Provides that the Illinois Student Assistance Commission, in investing amounts in the Illinois Prepaid Tuition Trust Fund, shall abide by the same requirements that investment companies and management companies are required to abide by under Sections 30 and 32 of the federal Investment Company Act of 1940, related rules of the U.S. Securities and Exchange Commission, and related federal case law, with references to the U.S. Securities and Exchange Commission meaning the State Treasurer and references to an investment company or management company meaning the Commission. Authorizes the State Treasurer to adopt any rules necessary to implement these provisions. Effective immediately.

Sponsorship: Partisan Bill (Republican 9)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5599 Detail]

Text: Latest bill text (Introduced) [HTML]

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