Fabio
176 lines
12 KiB
Markdown
176 lines
12 KiB
Markdown
---
|
||
type: "Bill"
|
||
title: "IL STUDENT LOAN INVESTMENT ACT"
|
||
description: "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."
|
||
jurisdiction: "us/states/il"
|
||
legislature: "Illinois General Assembly"
|
||
session: "101st"
|
||
identifier: "SB 1524"
|
||
citation: "Illinois SB 1524 (101st)"
|
||
classification: ["bill"]
|
||
subjects: []
|
||
status: "enacted"
|
||
primary_sponsors: []
|
||
version_count: 3
|
||
action_count: 79
|
||
vote_count: 3
|
||
first_action: "2019-02-15"
|
||
last_action: "2019-08-26"
|
||
source: "openstates"
|
||
source_identifier: "ocd-bill/ddbbce56-23bc-4d47-beb6-bac07a67d49b"
|
||
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=1524&GAID=15&DocTypeID=SB&LegId=118484&SessionID=108&GA=101"
|
||
source_hash: "a2712ee9e327ad6c9ba1069682654cb65c4e6e3fb0a2bcaa2662edf5177345e0"
|
||
vintage: "2026-07-01"
|
||
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
|
||
retrieved_at: "2026-07-06"
|
||
confidence: "reported"
|
||
tags: ["legislation", "bill", "us-il"]
|
||
---
|
||
|
||
# Illinois SB 1524 (101st) — IL STUDENT LOAN INVESTMENT ACT
|
||
|
||
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.
|
||
|
||
## Version chain
|
||
|
||
The bill's text revisions, in order — the diff chain from filing to enrollment.
|
||
|
||
1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10100SB1524&GA=101&SessionId=108&DocTypeId=SB&LegID=118484&DocNum=1524&GAID=15&SpecSess=&Session=&print=true)
|
||
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10100SB1524eng&GA=101&SessionId=108&DocTypeId=SB&LegID=118484&DocNum=1524&GAID=15&SpecSess=&Session=&print=true)
|
||
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10100SB1524enr&GA=101&SessionId=108&DocTypeId=SB&LegID=118484&DocNum=1524&GAID=15&SpecSess=&Session=&print=true)
|
||
|
||
## Votes
|
||
|
||
- Third Reading — **72–44** (pass) · lower
|
||
- Third Reading — **58–0** (pass) · upper
|
||
- Concurrence, Amendment 1 — **58–0** (pass) · upper
|
||
|
||
## Sponsors
|
||
|
||
- André Thapedi — cosponsor (person)
|
||
- Anne Stava-Murray — cosponsor (person)
|
||
- Antonio Muñoz — cosponsor (person)
|
||
- Bill Cunningham — cosponsor (person)
|
||
- Carol Ammons — primary (person)
|
||
- Celina Villanueva — cosponsor (person)
|
||
- Christopher Belt — cosponsor (person)
|
||
- Debbie Meyers-Martin — cosponsor (person)
|
||
- Diane Pappas — cosponsor (person)
|
||
- Elgie R. Sims, Jr. — cosponsor (person)
|
||
- Emanuel Chris Welch — cosponsor (person)
|
||
- Emil Jones, III — cosponsor (person)
|
||
- Julie A. Morrison — cosponsor (person)
|
||
- Justin Slaughter — cosponsor (person)
|
||
- Kambium Buckner — cosponsor (person)
|
||
- Kelly M. Cassidy — cosponsor (person)
|
||
- Kimberly A. Lightford — primary (person)
|
||
- LaToya Greenwood — cosponsor (person)
|
||
- Laura M. Murphy — cosponsor (person)
|
||
- Linda Holmes — cosponsor (person)
|
||
- Mary E. Flowers — cosponsor (person)
|
||
- Mattie Hunter — cosponsor (person)
|
||
- Maurice A. West, II — cosponsor (person)
|
||
- Michael E. Hastings — cosponsor (person)
|
||
- Napoleon Harris, III — cosponsor (person)
|
||
- Natalie A. Manley — cosponsor (person)
|
||
- Nicholas K. Smith — cosponsor (person)
|
||
- Omar Aquino — cosponsor (person)
|
||
- Pat McGuire — cosponsor (person)
|
||
- Patricia Van Pelt — cosponsor (person)
|
||
- Rita Mayfield — cosponsor (person)
|
||
- Scott M. Bennett — cosponsor (person)
|
||
- Sonya M. Harper — cosponsor (person)
|
||
- Stephanie A. Kifowit — cosponsor (person)
|
||
- Sue Scherer — cosponsor (person)
|
||
- Theresa Mah — cosponsor (person)
|
||
- Will Guzzardi — cosponsor (person)
|
||
|
||
## Timeline
|
||
|
||
The legislative action history — every referral, reading, and vote.
|
||
|
||
- **2019-02-15** Filed with Secretary by Sen. Kimberly A. Lightford `filing`
|
||
- **2019-02-15** First Reading `reading-1`
|
||
- **2019-02-15** Referred to Assignments `referral-committee`
|
||
- **2019-02-20** Added as Co-Sponsor Sen. Omar Aquino
|
||
- **2019-02-21** Added as Co-Sponsor Sen. Bill Cunningham
|
||
- **2019-02-26** Added as Co-Sponsor Sen. Scott M. Bennett
|
||
- **2019-02-27** Assigned to Financial Institutions `referral-committee`
|
||
- **2019-03-06** Added as Chief Co-Sponsor Sen. Julie A. Morrison
|
||
- **2019-03-06** Do Pass Financial Institutions; 008-000-000 `committee-passage`
|
||
- **2019-03-06** Placed on Calendar Order of 2nd Reading
|
||
- **2019-03-06** Second Reading `reading-2`
|
||
- **2019-03-06** Placed on Calendar Order of 3rd Reading March 7, 2019
|
||
- **2019-03-06** Added as Co-Sponsor Sen. Pat McGuire
|
||
- **2019-03-07** Added as Co-Sponsor Sen. Elgie R. Sims, Jr.
|
||
- **2019-03-07** Added as Co-Sponsor Sen. Laura M. Murphy
|
||
- **2019-03-19** Added as Co-Sponsor Sen. Christopher Belt
|
||
- **2019-03-28** Added as Co-Sponsor Sen. Michael E. Hastings
|
||
- **2019-03-28** Added as Co-Sponsor Sen. Patricia Van Pelt
|
||
- **2019-03-28** Added as Co-Sponsor Sen. Mattie Hunter
|
||
- **2019-03-28** Senate Floor Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford `amendment-introduction`
|
||
- **2019-03-28** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
|
||
- **2019-03-28** Added as Co-Sponsor Sen. Emil Jones, III
|
||
- **2019-04-03** Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
|
||
- **2019-04-04** Added as Chief Co-Sponsor Sen. Linda Holmes
|
||
- **2019-04-04** Added as Co-Sponsor Sen. Napoleon Harris, III
|
||
- **2019-04-04** Added as Chief Co-Sponsor Sen. Christopher Belt
|
||
- **2019-04-10** Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 008-000-000
|
||
- **2019-04-10** Recalled to Second Reading `reading-2`
|
||
- **2019-04-10** Senate Floor Amendment No. 1 Adopted; Lightford `amendment-passage`
|
||
- **2019-04-10** Placed on Calendar Order of 3rd Reading
|
||
- **2019-04-10** Third Reading - Passed; 058-000-000 `reading-3, passage`
|
||
- **2019-04-11** Arrived in House `introduction`
|
||
- **2019-04-11** Added as Co-Sponsor Sen. Antonio Muñoz
|
||
- **2019-04-11** Chief House Sponsor Rep. Carol Ammons
|
||
- **2019-04-11** First Reading `reading-1`
|
||
- **2019-04-11** Referred to Rules Committee `referral-committee`
|
||
- **2019-04-30** Assigned to Higher Education Committee `referral-committee`
|
||
- **2019-05-08** Added Alternate Co-Sponsor Rep. Justin Slaughter
|
||
- **2019-05-08** Do Pass / Short Debate Higher Education Committee; 011-007-000 `committee-passage`
|
||
- **2019-05-08** Placed on Calendar 2nd Reading - Short Debate
|
||
- **2019-05-16** House Floor Amendment No. 1 Filed with Clerk by Rep. Carol Ammons `amendment-introduction`
|
||
- **2019-05-16** House Floor Amendment No. 1 Referred to Rules Committee `referral-committee`
|
||
- **2019-05-20** House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Emanuel Chris Welch
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Debbie Meyers-Martin
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Sonya M. Harper
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Kambium Buckner
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Maurice A. West, II
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Natalie A. Manley
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Will Guzzardi
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Kelly M. Cassidy
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Theresa Mah
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Celina Villanueva
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. LaToya Greenwood
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Nicholas K. Smith
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Rita Mayfield
|
||
- **2019-05-21** Added Alternate Co-Sponsor Rep. Anne Stava-Murray
|
||
- **2019-05-21** Second Reading - Short Debate `reading-2`
|
||
- **2019-05-21** House Floor Amendment No. 1 Adopted `amendment-passage`
|
||
- **2019-05-21** Placed on Calendar Order of 3rd Reading - Short Debate
|
||
- **2019-05-22** Third Reading - Short Debate - Passed 072-044-001 `reading-3, passage`
|
||
- **2019-05-22** Added Alternate Co-Sponsor Rep. Stephanie A. Kifowit
|
||
- **2019-05-22** Added Alternate Co-Sponsor Rep. Sue Scherer
|
||
- **2019-05-22** Added Alternate Co-Sponsor Rep. Diane Pappas
|
||
- **2019-05-22** Added Alternate Co-Sponsor Rep. Mary E. Flowers
|
||
- **2019-05-22** Added Alternate Co-Sponsor Rep. André Thapedi
|
||
- **2019-05-22** Secretary's Desk - Concurrence House Amendment(s) 1
|
||
- **2019-05-22** Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 23, 2019
|
||
- **2019-05-22** House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kimberly A. Lightford `filing`
|
||
- **2019-05-22** House Floor Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
|
||
- **2019-05-28** House Floor Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions `referral-committee`
|
||
- **2019-05-28** House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 006-000-000
|
||
- **2019-05-31** House Floor Amendment No. 1 Senate Concurs 058-000-000
|
||
- **2019-05-31** Senate Concurs
|
||
- **2019-05-31** Passed Both Houses
|
||
- **2019-06-28** Sent to the Governor `executive-receipt`
|
||
- **2019-08-26** Governor Approved `executive-signature`
|
||
- **2019-08-26** Effective Date August 26, 2019
|
||
- **2019-08-26** Public Act . . . . . . . . . 101-0586 `became-law`
|
||
|
||
## Source
|
||
|
||
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/ddbbce56-23bc-4d47-beb6-bac07a67d49b`. Confidence: reported (aggregated from official Illinois legislature records).
|
||
|