Bill Text: IL HB5574 | 2017-2018 | 100th General Assembly | Introduced


Bill Title: Amends the Illinois Governmental Ethics Act. Provides that in lieu of filing a statement of economic interests, members of the General Assembly and executive branch constitutional officers may enter into a blind trust. Provides that any elected official choosing to set up a blind trust shall submit documentation to the Secretary of State attesting to the creation of a blind trust on his or her behalf, and confirming his or her intent to do so in lieu of filing a statement of economic interests. Defines "blind trust".

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB5574 Detail]

Download: Illinois-2017-HB5574-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5574

Introduced , by Rep. Stephanie A. Kifowit

SYNOPSIS AS INTRODUCED:
5 ILCS 420/4A-109 new

Amends the Illinois Governmental Ethics Act. Provides that in lieu of filing a statement of economic interests, members of the General Assembly and executive branch constitutional officers may enter into a blind trust. Provides that any elected official choosing to set up a blind trust shall submit documentation to the Secretary of State attesting to the creation of a blind trust on his or her behalf, and confirming his or her intent to do so in lieu of filing a statement of economic interests. Defines "blind trust".
LRB100 18148 RJF 33343 b

A BILL FOR

HB5574LRB100 18148 RJF 33343 b
1 AN ACT concerning government.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Governmental Ethics Act is amended
5by adding Section 4A-109 as follows:
6 (5 ILCS 420/4A-109 new)
7 Sec. 4A-109. Blind trust.
8 (a) In lieu of filing a statement of economic interests as
9required under this Article, members of the General Assembly
10and executive branch constitutional officers may enter into a
11blind trust.
12 (b) Any elected official choosing to set up a blind trust
13as provided under subsection (a) shall submit documentation to
14the Secretary of State attesting to the creation of a blind
15trust on his or her behalf, and confirming his or her intent to
16do so in lieu of filing a statement of economic interests under
17this Article.
18 (c) For the purposes of this Section, "blind trust" means a
19trust in which the trustee has full discretion over the assets,
20and the trust beneficiary has no knowledge of the holdings of
21the trust, and is prohibited from communicating with the
22trustee on investment and other business matters.
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