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republic-os/legislation/us/states/il/104th/hb-1430.md
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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
type title description jurisdiction legislature session identifier citation classification subjects status primary_sponsors version_count action_count vote_count first_action last_action source source_identifier source_url source_hash vintage source_snapshot retrieved_at confidence tags
Bill STUDENT INVESTMENT ACCOUNT Amends the Student Investment Account Act. Allows the State Treasurer to originate, guarantee, acquire, and service refinance loans; invest in, and enter into contracts with, institutions that provide refinance loans; deposit funds with financial institutions that provide refinance loans; establish specific criteria governing the eligibility of entities to participate in the making of refinance loans; charge and collect premiums for insurance on refinance loans; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of a refinance loan debt. Removes language allowing the State Treasurer to: enter into income share agreements with participants, facilitate income share agreements between participants and eligible income share agreement providers, and perform other acts as may be necessary or desirable in connection with income share agreements; enter into contracts and guarantee agreements as necessary to operate the Student Investment Account with income share agreement providers or qualified income share agreement organizations; establish specific criteria governing the eligibility of entities to participate in the making of income share agreements; pay income share agreement providers or qualified income share agreement organizations an administrative fee in connection with services provided pursuant to the Student Investment Account; charge and collect premiums for insurance on income share agreements; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of an income share agreement. Allows (rather than requires) the State Treasurer to establish fees to cover the costs of administration, recordkeeping, marketing, and investment management related to the Student Investment Account. Removes language allowing moneys in the Student Investment Account Assistance Fund to be used to provide assistance to income share agreement participants. Makes conforming changes. us/states/il Illinois General Assembly 104th HB 1430 Illinois HB 1430 (104th)
bill
enacted
Eva-Dina Delgado
Omar Aquino
4 41 4 2025-01-16 2025-08-15 openstates ocd-bill/1ae50cbd-4aae-40d7-9ee0-1de08a346996 https://ilga.gov/Legislation/BillStatus?DocNum=1430&GAID=18&DocTypeID=HB&LegId=157433&SessionID=114 ea1e67e118ee148911ad25a44ee2ed8b46cee5320ddc7bca46304e9c0012cf3a 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
legislation
bill
us-il

Illinois HB 1430 (104th) — STUDENT INVESTMENT ACCOUNT

Amends the Student Investment Account Act. Allows the State Treasurer to originate, guarantee, acquire, and service refinance loans; invest in, and enter into contracts with, institutions that provide refinance loans; deposit funds with financial institutions that provide refinance loans; establish specific criteria governing the eligibility of entities to participate in the making of refinance loans; charge and collect premiums for insurance on refinance loans; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of a refinance loan debt. Removes language allowing the State Treasurer to: enter into income share agreements with participants, facilitate income share agreements between participants and eligible income share agreement providers, and perform other acts as may be necessary or desirable in connection with income share agreements; enter into contracts and guarantee agreements as necessary to operate the Student Investment Account with income share agreement providers or qualified income share agreement organizations; establish specific criteria governing the eligibility of entities to participate in the making of income share agreements; pay income share agreement providers or qualified income share agreement organizations an administrative fee in connection with services provided pursuant to the Student Investment Account; charge and collect premiums for insurance on income share agreements; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of an income share agreement. Allows (rather than requires) the State Treasurer to establish fees to cover the costs of administration, recordkeeping, marketing, and investment management related to the Student Investment Account. Removes language allowing moneys in the Student Investment Account Assistance Fund to be used to provide assistance to income share agreement participants. Makes conforming changes.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

  1. Introduced (filed) — source
  2. Engrossed (committee substitute) — source
  3. House Amendment 001 (committee substitute) — source
  4. Enrolled (enrolled) — source

Votes

  • Higher Education — 10–1 (pass) · lower
  • Third Reading — 46–12 (pass) · upper
  • Third Reading — 67–38 (pass) · lower
  • Financial Institutions — 7–1 (pass) · upper

Sponsors

  • Eva-Dina Delgado — primary (person)
  • Omar Aquino — primary (person)
  • Angelica Guerrero-Cuellar — cosponsor (person)
  • Barbara Hernandez — cosponsor (person)
  • Carol Ammons — cosponsor (person)
  • Graciela Guzmán — cosponsor (person)
  • Hoan Huynh — cosponsor (person)
  • Jaime M. Andrade, Jr. — cosponsor (person)
  • Kelly M. Cassidy — cosponsor (person)
  • Kevin John Olickal — cosponsor (person)
  • Mark L. Walker — cosponsor (person)
  • Robert F. Martwick — cosponsor (person)
  • Robert Peters — cosponsor (person)

Timeline

The legislative action history — every referral, reading, and vote.

  • 2025-01-16 Filed with the Clerk by Rep. Eva-Dina Delgado filing
  • 2025-01-28 First Reading reading-1
  • 2025-01-28 Referred to Rules Committee
  • 2025-02-18 Assigned to Higher Education Committee referral-committee
  • 2025-02-18 House Committee Amendment No. 1 Filed with Clerk by Rep. Eva-Dina Delgado amendment-introduction
  • 2025-02-18 House Committee Amendment No. 1 Referred to Rules Committee
  • 2025-02-25 House Committee Amendment No. 1 Rules Refers to Higher Education Committee
  • 2025-02-26 Added Co-Sponsor Rep. Barbara Hernandez
  • 2025-02-26 House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote amendment-passage
  • 2025-02-26 Do Pass as Amended / Short Debate Higher Education Committee; 010-001-000
  • 2025-02-27 Placed on Calendar 2nd Reading - Short Debate reading-2
  • 2025-03-12 Added Chief Co-Sponsor Rep. Carol Ammons
  • 2025-03-18 Second Reading - Short Debate reading-2
  • 2025-03-18 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2025-04-01 Added Co-Sponsor Rep. Angelica Guerrero-Cuellar
  • 2025-04-04 Added Co-Sponsor Rep. Kevin John Olickal
  • 2025-04-04 Added Co-Sponsor Rep. Kelly M. Cassidy
  • 2025-04-07 Third Reading - Short Debate - Passed 067-038-001 passage, reading-3
  • 2025-04-07 Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
  • 2025-04-07 Added Co-Sponsor Rep. Hoan Huynh
  • 2025-04-08 Arrive in Senate introduction
  • 2025-04-08 Placed on Calendar Order of First Reading reading-1
  • 2025-04-08 Chief Senate Sponsor Sen. Omar Aquino
  • 2025-04-08 First Reading reading-1
  • 2025-04-08 Referred to Assignments
  • 2025-04-23 Assigned to Financial Institutions referral-committee
  • 2025-04-25 Added as Alternate Chief Co-Sponsor Sen. Mark L. Walker
  • 2025-04-30 Postponed - Financial Institutions
  • 2025-05-06 Added as Alternate Chief Co-Sponsor Sen. Robert F. Martwick
  • 2025-05-06 Added as Alternate Chief Co-Sponsor Sen. Robert Peters
  • 2025-05-07 Do Pass Financial Institutions; 007-001-000
  • 2025-05-07 Placed on Calendar Order of 2nd Reading May 8, 2025 reading-2
  • 2025-05-08 Second Reading reading-2
  • 2025-05-08 Placed on Calendar Order of 3rd Reading May 13, 2025
  • 2025-05-14 Added as Alternate Co-Sponsor Sen. Graciela Guzmán
  • 2025-05-22 Third Reading - Passed; 046-012-000 passage, reading-3
  • 2025-05-22 Passed Both Houses
  • 2025-06-20 Sent to the Governor executive-receipt
  • 2025-08-15 Governor Approved executive-signature
  • 2025-08-15 Effective Date August 15, 2025
  • 2025-08-15 Public Act . . . . . . . . . 104-0180 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/1ae50cbd-4aae-40d7-9ee0-1de08a346996. Confidence: reported (aggregated from official Illinois legislature records).

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