Fabio
97 lines
6.4 KiB
Markdown
97 lines
6.4 KiB
Markdown
---
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type: "Bill"
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title: "CIV PRO/TREAS-COLLEGE SAVINGS"
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description: "Amends the State Treasurer Act to provide that moneys held in an account invested in the Illinois College Savings Pool shall be exempt from all claims of the creditors of the participant, donor, or designated beneficiary of that account, except for non-exempt College Savings Pool transfers to or from the account. Defines \"participant\" and \"donor\". Amends the Code of Civil Procedure. Provides that moneys held in an account invested in the Illinois College Savings Pool of which the debtor is a participant or donor is personal property that is exempt from judgment, attachment, or distress from rent except for: (i) contributions to the account made with the intent to hinder, delay, or defraud any creditor, (ii) certain contributions to the account made during the 365 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion; or (iii) certain contributions to the account made during the 730 to 366 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "95th"
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identifier: "SB 497"
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citation: "Illinois SB 497 (95th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 33
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vote_count: 2
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first_action: "2007-02-08"
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last_action: "2007-08-20"
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source: "openstates"
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source_identifier: "ocd-bill/5002a8d2-08ab-43b5-98d7-8804dcf5624e"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=497&GAID=9&DocTypeID=SB&LegId=28251&SessionID=51&GA=95"
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source_hash: "78a70e7571f82a7245fcf9dba8cccbbcb4fe425154d8f3606b48c3d92c3cd66b"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 497 (95th) — CIV PRO/TREAS-COLLEGE SAVINGS
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Amends the State Treasurer Act to provide that moneys held in an account invested in the Illinois College Savings Pool shall be exempt from all claims of the creditors of the participant, donor, or designated beneficiary of that account, except for non-exempt College Savings Pool transfers to or from the account. Defines "participant" and "donor". Amends the Code of Civil Procedure. Provides that moneys held in an account invested in the Illinois College Savings Pool of which the debtor is a participant or donor is personal property that is exempt from judgment, attachment, or distress from rent except for: (i) contributions to the account made with the intent to hinder, delay, or defraud any creditor, (ii) certain contributions to the account made during the 365 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion; or (iii) certain contributions to the account made during the 730 to 366 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB0497&GA=95&SessionId=51&DocTypeId=SB&LegID=28251&DocNum=497&GAID=9&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB0497eng&GA=95&SessionId=51&DocTypeId=SB&LegID=28251&DocNum=497&GAID=9&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09500SB0497enr&GA=95&SessionId=51&DocTypeId=SB&LegID=28251&DocNum=497&GAID=9&Session=&print=true)
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## Votes
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- Third Reading — **114–0** (pass) · lower
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- Third Reading — **57–0** (pass) · upper
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## Sponsors
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- David E. Miller — cosponsor (person)
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- John J. Cullerton — primary (person)
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- Rich Brauer — cosponsor (person)
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- William B. Black — cosponsor (person)
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- William Davis — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2007-02-08** Filed with Secretary by Sen. John J. Cullerton `filing`
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- **2007-02-08** First Reading `reading-1`
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- **2007-02-08** Referred to Rules `referral-committee`
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- **2007-02-21** Assigned to Judiciary Civil Law `referral-committee`
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- **2007-03-01** Do Pass Judiciary Civil Law; 010-000-000 `committee-passage`
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- **2007-03-01** Placed on Calendar Order of 2nd Reading March 2, 2007
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- **2007-03-02** Second Reading `reading-2`
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- **2007-03-02** Placed on Calendar Order of 3rd Reading March 6, 2007
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- **2007-03-08** Added as Chief Co-Sponsor Sen. Dan Cronin
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- **2007-03-29** Added as Chief Co-Sponsor Sen. James T. Meeks
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- **2007-03-29** Third Reading - Passed; 057-000-000 `reading-3, passage`
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- **2007-03-30** Arrived in House `introduction`
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- **2007-03-30** Placed on Calendar Order of First Reading `reading-1`
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- **2007-04-10** Chief House Sponsor Rep. John A. Fritchey
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- **2007-04-16** First Reading `reading-1`
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- **2007-04-16** Referred to Rules Committee `referral-committee`
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- **2007-04-17** Added Alternate Chief Co-Sponsor Rep. Naomi D. Jakobsson
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- **2007-04-30** Assigned to Financial Institutions Committee `referral-committee`
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- **2007-05-08** Do Pass / Short Debate Financial Institutions Committee; 022-000-000 `committee-passage`
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- **2007-05-09** Placed on Calendar 2nd Reading - Short Debate
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- **2007-05-10** Added Alternate Co-Sponsor Rep. William Davis
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- **2007-05-10** Added Alternate Co-Sponsor Rep. Rich Brauer
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- **2007-05-22** Second Reading - Short Debate `reading-2`
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- **2007-05-22** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2007-05-23** Added Alternate Chief Co-Sponsor Rep. Kevin Joyce
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- **2007-05-23** Added Alternate Co-Sponsor Rep. David E. Miller
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- **2007-05-23** Added Alternate Co-Sponsor Rep. William B. Black
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- **2007-05-23** Third Reading - Short Debate - Passed 114-000-000 `reading-3, passage`
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- **2007-05-23** Passed Both Houses
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- **2007-06-21** Sent to the Governor `executive-receipt`
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- **2007-08-20** Governor Approved `executive-signature`
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- **2007-08-20** Effective Date January 1, 2008
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- **2007-08-20** Public Act . . . . . . . . . 95-0306 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/5002a8d2-08ab-43b5-98d7-8804dcf5624e`. Confidence: reported (aggregated from official Illinois legislature records).
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