Summary as Introduced
Amends the State Treasurer Act. Provides that the State Treasurer may establish and administer a non-profit investment pool and an electronic payment processing program to supplement and enhance investment opportunities and secure electronic payment options otherwise available to not-for-profit corporations in the State. Provides that the Treasurer may receive funds paid into the pool for the purpose of holding and investing those funds. Provides for surety bonds payable to not-for-profit corporations who participate in the pool. Provides that the Treasurer shall adopt rules for the efficient administration of the pool.
Staff Analysis
The legislation makes extensive updates across numerous Illinois statutes, including the Election Code, the Illinois Act on the Aging, the Children and Family Services Act, the Illinois Lottery Law, the Illinois Power Agency Act, the Counties Code, and several others. It extends various repeal and reporting dates, continues certain pilot programs—such as a mechanics lien demand and referral pilot—and authorizes specific property sales in Rockford and Joliet. The bill also adjusts multiple provisions across state laws, including those related to tax credits and administrative procedures.
The bill amends the Statute on Statutes to modify how repeal dates are treated when the General Assembly passes legislation to extend or change them. Under the revised rule, if a bill altering a repeal date is passed before or within seven days after the stated repeal date—and is later approved, overridden, or becomes law without the Governor’s signature—the affected Act or Section is deemed to have remained continuously in effect. The legislation further reinstates provisions that were inadvertently repealed in 2025, including the Illinois Elections and Infrastructure Integrity Task Force, the Illinois Street Gang and Racketeer Influenced and Corrupt Organizations Law, and Menard County’s quick-take authority, extending their repeal dates to July 1, 2027.
Additional election- and governance-related updates include new filing timelines for multi-township assessor petitions, corrections and conforming changes to the Illinois Municipal Code and Downstate Forest Preserve District Act, and adjusted election timing for expanded or reduced park district boards. The bill also revises vacancy-filling rules for regional superintendents of schools and clarifies the effective date of certain Prevailing Wage Act amendments, which will now take effect July 1, 2026.
Finally, the legislation modifies transit-related financial thresholds under the Metropolitan Transit Authority Act. Due to the prolonged fiscal impacts of the COVID-19 pandemic, it allows fare revenues in fiscal years 2021 through 2026 to fall below the statutory minimum percentage of operating costs for both general public transit and ADA paratransit services. The bill makes other technical changes and takes effect immediately.