Bill Text: IL SR0311 | 2021-2022 | 102nd General Assembly | Introduced
Bill Title: Urges the Bank on Commission, housed in the Illinois Comptroller's Office, to develop recommendations for improving the financial capability of students enrolled in Illinois' public colleges and universities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-07-16 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SR0311 Detail]
Download: Illinois-2021-SR0311-Introduced.html
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1 | SENATE RESOLUTION
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2 | WHEREAS, All young adults who graduate from a public | ||||||
3 | secondary or postsecondary school in this State should be able | ||||||
4 | to: (1) demonstrate competence in managing their finances, (2) | ||||||
5 | identify and avoid fraud, predatory financial practices, and | ||||||
6 | identity theft, (3) navigate the terminology associated with | ||||||
7 | on-boarding documents, including, but not limited to, tax | ||||||
8 | documents, life insurance policies, health insurance plans, | ||||||
9 | and retirement plan options, (4) understand the lending | ||||||
10 | process and the importance of strong credit, (5) understand | ||||||
11 | the basics of investing in the stock market, and (6) display an | ||||||
12 | awareness of the cost and benefits of credit and compounding | ||||||
13 | interest; therefore, be it
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14 | RESOLVED, BY THE SENATE OF THE ONE HUNDRED SECOND GENERAL | ||||||
15 | ASSEMBLY OF THE STATE OF ILLINOIS, that we urge the Bank on | ||||||
16 | Commission, housed in the Illinois Comptroller's Office, to | ||||||
17 | develop recommendations for improving the financial capability | ||||||
18 | of students enrolled in Illinois' public colleges and | ||||||
19 | universities; and be it further
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20 | RESOLVED, That the Bank on Commission leadership is urged | ||||||
21 | to select at least one member of the commission to lead a task | ||||||
22 | force charged with identifying recommendations to improve the | ||||||
23 | financial literacy outcomes of students enrolled in two and |
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1 | four year public colleges and universities in Illinois; and be | ||||||
2 | it further
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3 | RESOLVED, That the task force should be composed of young | ||||||
4 | adults, financial institutions, community-based | ||||||
5 | organizations, practitioners, teachers, and professors who are | ||||||
6 | encouraged to serve in an advisory capacity to the commission | ||||||
7 | and may or may not be part of the larger Bank on Commission; | ||||||
8 | and be it further
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9 | RESOLVED, That relevant state agencies, including the | ||||||
10 | Illinois Board of Higher Education, the Illinois Student | ||||||
11 | Assistance Commission, the Illinois State Board of Education, | ||||||
12 | and the State Treasurer's Office, should fully cooperate in | ||||||
13 | submitting needed information for the aforementioned task | ||||||
14 | force to develop thorough, well-informed recommendations; and | ||||||
15 | be it further
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16 | RESOLVED, That we urge the task force to complete its work | ||||||
17 | and submit its recommendations to the Governor's Office and | ||||||
18 | the General Assembly no later than December 31, 2022.
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