Bill Text: IL HB5045 | 2025-2026 | 104th General Assembly | Engrossed
Bill Title: Reinserts the provisions of the introduced bill with the following changes. Provides that, in order to be eligible to participate in the non-profit investment pool, a not-for-profit corporation shall: (1) not be on the federal system for award management (SAM) exclusion list; (2) not be on the Chief Procurement Officer's suspensions, debarments, voluntary exclusions, and voluntary non-participation agreements list; (3) not be on the Department of Labor's debarred contractors list; (4) not be on the Illinois Stop Payment List established under the Grant Accountability and Transparency Act; and (5) be an organization with a purpose specified in the provision.
Sponsorship: Partisan Bill (Democrat 13)
Status: (Engrossed - Dead) 2026-05-15 - Rule 3-9(a) / Re-referred to Assignments [HB5045 Detail]
Download: Illinois-2025-HB5045-Engrossed.html
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| 1 | AN ACT concerning State government. | ||||||
| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly: | ||||||
| 4 | Section 5. The State Treasurer Act is amended by adding | ||||||
| 5 | Section 17.2 as follows: | ||||||
| 6 | (15 ILCS 505/17.2 new) | ||||||
| 7 | Sec. 17.2. Non-profit investment pool. | ||||||
| 8 | (a) The State Treasurer may establish and administer a | ||||||
| 9 | non-profit investment pool and an electronic payment | ||||||
| 10 | processing program to supplement and enhance investment | ||||||
| 11 | opportunities and secure electronic payment options otherwise | ||||||
| 12 | available to not-for-profit corporations in this State. | ||||||
| 13 | (b) The Treasurer may receive funds paid into the | ||||||
| 14 | non-profit investment pool by a not-for-profit corporation | ||||||
| 15 | that is exempt from taxation under Section 501(c)(3), | ||||||
| 16 | 501(c)(4), 501(c)(5), or 501(c)(6) of the Internal Revenue | ||||||
| 17 | Code for the purpose of holding and investing those funds. In | ||||||
| 18 | order to be eligible to participate in the non-profit | ||||||
| 19 | investment pool, the not-for-profit corporation shall: | ||||||
| 20 | (1) provide the Treasurer with a copy of the most | ||||||
| 21 | recent audited financial statement or charitable | ||||||
| 22 | organization annual report filed with the Attorney | ||||||
| 23 | General; | ||||||
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| 1 | (2) be domiciled in Illinois; | ||||||
| 2 | (3) not be on the federal system for award management | ||||||
| 3 | (SAM) exclusion list; | ||||||
| 4 | (4) not be on the Chief Procurement Officer's | ||||||
| 5 | suspensions, debarments, voluntary exclusions, and | ||||||
| 6 | voluntary non-participation agreements list; | ||||||
| 7 | (5) not be on the Department of Labor's debarred | ||||||
| 8 | contractors list; | ||||||
| 9 | (6) not be on the Illinois Stop Payment List | ||||||
| 10 | established under the Grant Accountability and | ||||||
| 11 | Transparency Act; and | ||||||
| 12 | (7) be at least one of the following: | ||||||
| 13 | (A) a Medicaid certified provider that is not on | ||||||
| 14 | the Department of Healthcare and Family Services' | ||||||
| 15 | provider sanctions list; | ||||||
| 16 | (B) an organization that held certification under | ||||||
| 17 | the Grant Accountability and Transparency Act at any | ||||||
| 18 | time within the previous 8 years prior to the | ||||||
| 19 | transmittal of funds to the Treasurer or is a current | ||||||
| 20 | grantee or subgrantee of the State; | ||||||
| 21 | (C) a labor organization registered with the | ||||||
| 22 | United States Department of Labor; or | ||||||
| 23 | (D) an organization whose mission involves a | ||||||
| 24 | purpose or cause related to one of the following: | ||||||
| 25 | (i) legal aid services for people with low | ||||||
| 26 | incomes; | ||||||
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| 1 | (ii) services for military veterans; | ||||||
| 2 | (iii) scientific and medical research; | ||||||
| 3 | (iv) neighborhood and community development; | ||||||
| 4 | (v) affordable housing or housing assistance; | ||||||
| 5 | (vi) public pre-kindergarten through grade 12, | ||||||
| 6 | public career and technical education, or public | ||||||
| 7 | higher education access and scholarships; | ||||||
| 8 | (vii) publicly funded libraries, publicly | ||||||
| 9 | funded museums, or public broadcasting; | ||||||
| 10 | (viii) support for firefighting and EMS | ||||||
| 11 | services; | ||||||
| 12 | (ix) emergency assistance and disaster relief; | ||||||
| 13 | (x) food banks and food pantries; | ||||||
| 14 | (xi) environmental protection and | ||||||
| 15 | preservation; | ||||||
| 16 | (xii) animal shelters, humane societies, or | ||||||
| 17 | anti-animal cruelty societies; | ||||||
| 18 | (xiii) cultural and performing arts; | ||||||
| 19 | (xiv) job training, employment placement, or | ||||||
| 20 | other employment-related community-based | ||||||
| 21 | services; | ||||||
| 22 | (xv) services for victims of domestic | ||||||
| 23 | violence; or | ||||||
| 24 | (xvi) services for seniors and people with | ||||||
| 25 | disabilities. | ||||||
| 26 | (c) The Treasurer may invest the funds constituting the | ||||||
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| 1 | non-profit investment pool in the same manner, in the same | ||||||
| 2 | types of investments, and subject to the same limitations | ||||||
| 3 | provided for the investment of funds in the State Treasury. | ||||||
| 4 | The Treasurer shall develop, publish, and implement an | ||||||
| 5 | investment policy covering the management of funds in the | ||||||
| 6 | non-profit investment pool. The policy shall be published each | ||||||
| 7 | year as part of the audit of the non-profit investment pool by | ||||||
| 8 | the Auditor General, and shall be distributed to all | ||||||
| 9 | participants. The Treasurer shall notify all non-profit | ||||||
| 10 | investment pool participants in writing, and the Treasurer | ||||||
| 11 | shall publish in at least one newspaper of general circulation | ||||||
| 12 | in both Springfield and Chicago any changes to a previously | ||||||
| 13 | published investment policy at least 30 calendar days before | ||||||
| 14 | implementing the policy. Any investment policy adopted by the | ||||||
| 15 | Treasurer shall be reviewed, and updated if necessary, within | ||||||
| 16 | 90 days after the installation of a new Treasurer. | ||||||
| 17 | (d) The Treasurer shall adopt rules for the efficient | ||||||
| 18 | administration of the non-profit investment pool, including | ||||||
| 19 | the minimum amounts that may be deposited in the non-profit | ||||||
| 20 | investment pool and the minimum period of time that deposits | ||||||
| 21 | shall be retained in the non-profit investment pool. The rules | ||||||
| 22 | shall provide for the administrative expenses of the | ||||||
| 23 | non-profit investment pool to be paid from its earnings and | ||||||
| 24 | for the interest earnings in excess of such expenses to be | ||||||
| 25 | credited or paid monthly to the not-for-profit corporations | ||||||
| 26 | participating in the non-profit investment pool in a manner | ||||||
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| 1 | which equitably reflects the differing amounts of their | ||||||
| 2 | respective investments in the non-profit investment pool and | ||||||
| 3 | the differing periods of time for which the amounts were in the | ||||||
| 4 | custody of the non-profit investment pool. | ||||||
| 5 | (e) Upon creating a non-profit investment pool, the State | ||||||
| 6 | Treasurer shall give bond with 2 or more sufficient sureties, | ||||||
| 7 | payable to not-for-profit corporations that participate in the | ||||||
| 8 | non-profit investment pool for the benefit of the | ||||||
| 9 | not-for-profit corporations that have funds that are paid into | ||||||
| 10 | the non-profit investment pool for investment, in the penal | ||||||
| 11 | sum of $150,000, conditioned for the faithful discharge of the | ||||||
| 12 | State Treasurer's duties in relation to the non-profit | ||||||
| 13 | investment pool. | ||||||
