Bill Sponsors: IL SB1524 | 2019-2020 | 101st General Assembly

Bill Title: Creates the Illinois Student Loan Investment Act. Provides for the establishment, operation, and administration of the Student Investment Account by the State Treasurer. Provides that the State Treasurer shall establish fees to cover the costs of administration, recordkeeping, marketing, and investment management related to the Student Investment Account. Provides that the State Treasurer may charge and collect insurance premiums and deduct wages under the Act. Requires the State Treasurer to develop, publish, and implement one or more investment policies covering the investment of moneys under the Act. Provides for the creation and use of specified Funds to be held outside of the State Treasury with the State Treasurer as custodian. Provides for the adoption of rules. Amends the Deposit of State Moneys Act. Allows the State Treasurer to invest or reinvest State money in, among other items or purposes, investments made in accordance with the Student Loan Investment Act. Amends the Student Loan Servicing Rights Act. Provides that the term "student loan servicer" shall not include, among other entities, the State Treasurer and its agents when the agents are acting on the State Treasurer's behalf. Defines terms. Effective immediately.

Spectrum: Partisan Bill (Democrat 37-0)

Status: (Enrolled) 2019-05-31 - Passed Both Houses [SB1524 Detail]

Text: Latest bill text (Enrolled) [HTML]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Senator Kimberly Lightford [D]PrimarySponsored BillsSD-004FollowTheMoneyBallotpediaVoteSmart
Senator Julie Morrison [D]CosponsorSponsored BillsSD-029FollowTheMoneyBallotpediaVoteSmart
Senator Linda Holmes [D]CosponsorSponsored BillsSD-042FollowTheMoneyBallotpediaVoteSmart
Senator Christopher Belt [D]CosponsorSponsored BillsSD-057FollowTheMoneyBallotpediaVoteSmart
Senator Omar Aquino [D]CosponsorSponsored BillsSD-002FollowTheMoneyBallotpediaVoteSmart
Senator William Cunningham [D]CosponsorSponsored BillsSD-018FollowTheMoneyBallotpediaVoteSmart
Senator Scott Bennett [D]CosponsorSponsored BillsSD-052FollowTheMoneyBallotpediaVoteSmart
Senator Pat McGuire [D]CosponsorSponsored BillsSD-043FollowTheMoneyBallotpediaVoteSmart
Senator Elgie Sims [D]CosponsorSponsored BillsSD-017FollowTheMoneyBallotpediaVoteSmart
Senator Laura Murphy [D]CosponsorSponsored BillsSD-028FollowTheMoneyBallotpediaVoteSmart
Senator Michael Hastings [D]CosponsorSponsored BillsSD-019FollowTheMoneyBallotpediaVoteSmart
Senator Patricia Vanpelt-Watkins [D]CosponsorSponsored BillsSD-005FollowTheMoneyBallotpediaVoteSmart
Senator Mattie Hunter [D]CosponsorSponsored BillsSD-003FollowTheMoneyBallotpediaVoteSmart
Senator Emil Jones [D]CosponsorSponsored BillsSD-014FollowTheMoneyBallotpediaVoteSmart
Senator Napoleon Harris [D]CosponsorSponsored BillsSD-015FollowTheMoneyBallotpediaVoteSmart
Senator Antonio Munoz [D]CosponsorSponsored BillsSD-001FollowTheMoneyBallotpediaVoteSmart
Representative Carol Ammons [D]PrimarySponsored BillsHD-103FollowTheMoneyBallotpediaVoteSmart
Representative Justin Slaughter [D]CosponsorSponsored BillsHD-027FollowTheMoneyBallotpediaVoteSmart
Representative Emanuel Welch [D]CosponsorSponsored BillsHD-007FollowTheMoneyBallotpediaVoteSmart
Representative Debbie Meyers-Martin [D]CosponsorSponsored BillsHD-038FollowTheMoneyBallotpediaVoteSmart
Representative Sonya Harper [D]CosponsorSponsored BillsHD-006FollowTheMoneyBallotpediaVoteSmart
Representative Kambium Buckner [D]CosponsorSponsored BillsHD-026N/ABallotpediaVoteSmart
Representative Maurice West [D]CosponsorSponsored BillsHD-067FollowTheMoneyBallotpediaVoteSmart
Representative Natalie Manley [D]CosponsorSponsored BillsHD-098FollowTheMoneyBallotpediaVoteSmart
Representative Will Guzzardi [D]CosponsorSponsored BillsHD-039FollowTheMoneyBallotpediaVoteSmart
Representative Kelly Cassidy [D]CosponsorSponsored BillsHD-014FollowTheMoneyBallotpediaVoteSmart
Representative Theresa Mah [D]CosponsorSponsored BillsHD-002FollowTheMoneyBallotpediaVoteSmart
Representative Celina Villanueva [D]CosponsorSponsored BillsHD-021FollowTheMoneyBallotpediaVoteSmart
Representative Latoya Greenwood [D]CosponsorSponsored BillsHD-114FollowTheMoneyBallotpediaVoteSmart
Representative Nicholas Smith [D]CosponsorSponsored BillsHD-034N/ABallotpediaVoteSmart
Representative Rita Mayfield [D]CosponsorSponsored BillsHD-060FollowTheMoneyBallotpediaVoteSmart
Representative Anne Stava-Murray [D]CosponsorSponsored BillsHD-081FollowTheMoneyBallotpediaVoteSmart
Representative Stephanie Kifowit [D]CosponsorSponsored BillsHD-084FollowTheMoneyBallotpediaVoteSmart
Representative Sue Scherer [D]CosponsorSponsored BillsHD-096FollowTheMoneyBallotpediaVoteSmart
Representative Diane Pappas [D]CosponsorSponsored BillsHD-045FollowTheMoneyBallotpediaVoteSmart
Representative Mary Flowers [D]CosponsorSponsored BillsHD-031FollowTheMoneyBallotpediaVoteSmart
Representative Andre Thapedi [D]CosponsorSponsored BillsHD-032FollowTheMoneyBallotpediaVoteSmart

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