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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 FUNERAL TRUST FUNDS-TRUSTEES Amends the Illinois Funeral or Burial Funds Act. Restores a provision that allows persons holding less than $500,000 in trust funds to continue to act as the trustee after the funds are deposited. Provides that a pre-need contract must, if funded by a trust, clearly identify the trustee's name and address and the primary state or federal regulator of the trustee. Provides that a trustee may be the seller or provider of funeral services or merchandise if the seller holds sales of less than $500,000 in trust and deposits funds for which the seller is acting as trustee according in a certain manner. Provides that if a purchaser selects a trust arrangement to fund the pre-need contract, the trust must be maintained: (1) in a deposit account maintained by the seller as trustee in a bank, savings and loan association, savings bank, or credit union authorized to do business in Illinois in which accounts are insured by an agency of the federal government, (2) in a trust company authorized to do business in Illinois, or (3) with a corporate fiduciary as defined in the Corporate Fiduciary Act. Restores a provision that allows trust funds to be maintained in a financial institution located in a state adjoining Illinois if certain conditions are met. Provides that a trustee has a duty to manage the trust and, with respect to the investment of trust funds, shall exercise certain judgment and care. Provides that the trustee has a duty to manage and invest the assets pursuant to the Prudent Investor Rule under the Trusts and Trustees Act if the amount of funds to be entrusted exceeds $1,000,000. Amends the Illinois Pre-Need Cemetery Sales Act. Removes language that provides that the seller must retain a corporate fiduciary as an independent trustee for any amount of trust funds. Provides that a trust established under the Act must be maintained: (1) in a deposit account maintained by the seller as trustee in a bank, savings and loan association, or credit union authorized to do business in Illinois in which accounts are insured by an agency of the federal government, (2) in a trust company authorized to do business in Illinois, or (3) in an investment company authorized to do business in Illinois insured by the Securities Brokers Insurance Corporation. us/states/il Illinois General Assembly 97th SB 3171 Illinois SB 3171 (97th)
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enacted
3 57 3 2012-02-01 2012-07-30 openstates ocd-bill/dc843419-5d9d-460d-9de5-e0f644c6dac3 http://ilga.gov/legislation/BillStatus.asp?DocNum=3171&GAID=11&DocTypeID=SB&LegId=64095&SessionID=84&GA=97 ac7b397672ba7e7426bc9d22e40dec2b625e8f79f3df4d8dcfe7e55ed846a70c 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
legislation
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us-il

Illinois SB 3171 (97th) — FUNERAL TRUST FUNDS-TRUSTEES

Amends the Illinois Funeral or Burial Funds Act. Restores a provision that allows persons holding less than $500,000 in trust funds to continue to act as the trustee after the funds are deposited. Provides that a pre-need contract must, if funded by a trust, clearly identify the trustee's name and address and the primary state or federal regulator of the trustee. Provides that a trustee may be the seller or provider of funeral services or merchandise if the seller holds sales of less than $500,000 in trust and deposits funds for which the seller is acting as trustee according in a certain manner. Provides that if a purchaser selects a trust arrangement to fund the pre-need contract, the trust must be maintained: (1) in a deposit account maintained by the seller as trustee in a bank, savings and loan association, savings bank, or credit union authorized to do business in Illinois in which accounts are insured by an agency of the federal government, (2) in a trust company authorized to do business in Illinois, or (3) with a corporate fiduciary as defined in the Corporate Fiduciary Act. Restores a provision that allows trust funds to be maintained in a financial institution located in a state adjoining Illinois if certain conditions are met. Provides that a trustee has a duty to manage the trust and, with respect to the investment of trust funds, shall exercise certain judgment and care. Provides that the trustee has a duty to manage and invest the assets pursuant to the Prudent Investor Rule under the Trusts and Trustees Act if the amount of funds to be entrusted exceeds $1,000,000. Amends the Illinois Pre-Need Cemetery Sales Act. Removes language that provides that the seller must retain a corporate fiduciary as an independent trustee for any amount of trust funds. Provides that a trust established under the Act must be maintained: (1) in a deposit account maintained by the seller as trustee in a bank, savings and loan association, or credit union authorized to do business in Illinois in which accounts are insured by an agency of the federal government, (2) in a trust company authorized to do business in Illinois, or (3) in an investment company authorized to do business in Illinois insured by the Securities Brokers Insurance Corporation.

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. Enrolled (enrolled) — source

Votes

  • Third Reading — 53–0 (pass) · upper
  • Concurrence — 56–0 (pass) · upper
  • Third Reading — 112–0 (pass) · lower

Sponsors

  • John M. Sullivan — primary (person)

Timeline

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

  • 2012-02-01 Filed with Secretary by Sen. John M. Sullivan filing
  • 2012-02-01 First Reading reading-1
  • 2012-02-01 Referred to Assignments referral-committee
  • 2012-02-07 Assigned to Licensed Activities referral-committee
  • 2012-02-23 Added as Co-Sponsor Sen. Kyle McCarter
  • 2012-02-24 Do Pass Licensed Activities; 008-000-000 committee-passage
  • 2012-02-24 Placed on Calendar Order of 2nd Reading February 27, 2012
  • 2012-02-27 Second Reading reading-2
  • 2012-02-27 Placed on Calendar Order of 3rd Reading February 28, 2012
  • 2012-03-01 Senate Floor Amendment No. 1 Filed with Secretary by Sen. John M. Sullivan amendment-introduction
  • 2012-03-01 Senate Floor Amendment No. 1 Referred to Assignments referral-committee
  • 2012-03-06 Senate Floor Amendment No. 1 Assignments Refers to Licensed Activities
  • 2012-03-19 Senate Floor Amendment No. 2 Filed with Secretary by Sen. John M. Sullivan amendment-introduction
  • 2012-03-19 Senate Floor Amendment No. 2 Referred to Assignments referral-committee
  • 2012-03-22 Senate Floor Amendment No. 2 Assignments Refers to Licensed Activities
  • 2012-03-27 Senate Floor Amendment No. 1 Postponed - Licensed Activities
  • 2012-03-27 Senate Floor Amendment No. 2 Recommend Do Adopt Licensed Activities; 008-000-000
  • 2012-03-28 Recalled to Second Reading reading-2
  • 2012-03-28 Senate Floor Amendment No. 2 Adopted; Sullivan amendment-passage
  • 2012-03-28 Placed on Calendar Order of 3rd Reading
  • 2012-03-28 Third Reading - Passed; 053-000-000 reading-3, passage
  • 2012-03-28 Senate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a) amendment-failure
  • 2012-03-28 Arrived in House introduction
  • 2012-03-28 Chief House Sponsor Rep. Dan Brady
  • 2012-03-28 Placed on Calendar Order of First Reading reading-1
  • 2012-03-28 First Reading reading-1
  • 2012-03-28 Referred to Rules Committee referral-committee
  • 2012-05-21 Final Action Deadline Extended-9(b) May 29, 2012
  • 2012-05-21 Assigned to Judiciary I - Civil Law Committee referral-committee
  • 2012-05-21 House Committee Amendment No. 1 Filed with Clerk by Rep. Dan Brady amendment-introduction
  • 2012-05-21 House Committee Amendment No. 1 Referred to Rules Committee referral-committee
  • 2012-05-21 Motion Filed to Suspend Rule 25 Judiciary I - Civil Law Committee; Rep. Barbara Flynn Currie
  • 2012-05-21 Motion to Suspend Rule 25 - Prevailed by Voice Vote
  • 2012-05-22 Added Alternate Chief Co-Sponsor Rep. Elaine Nekritz
  • 2012-05-22 House Committee Amendment No. 1 Rules Refers to Judiciary I - Civil Law Committee
  • 2012-05-24 House Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote amendment-passage
  • 2012-05-24 Do Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 010-000-000 committee-passage
  • 2012-05-24 Placed on Calendar 2nd Reading - Short Debate
  • 2012-05-24 Second Reading - Short Debate reading-2
  • 2012-05-24 Held on Calendar Order of Second Reading - Short Debate reading-2
  • 2012-05-26 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2012-05-28 Added Alternate Chief Co-Sponsor Rep. Paul Evans
  • 2012-05-28 Added Alternate Chief Co-Sponsor Rep. Michael G. Connelly
  • 2012-05-28 Third Reading - Short Debate - Passed 112-000-000 reading-3, passage
  • 2012-05-28 Secretary's Desk - Concurrence House Amendment(s) 1
  • 2012-05-28 Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 29, 2012
  • 2012-05-28 House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. John M. Sullivan filing
  • 2012-05-28 House Committee Amendment No. 1 Motion to Concur Referred to Assignments referral-committee
  • 2012-05-28 House Committee Amendment No. 1 Motion to Concur Assignments Referred to Judiciary referral-committee
  • 2012-05-29 House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 009-000-000
  • 2012-05-30 Added as Co-Sponsor Sen. Kimberly A. Lightford
  • 2012-05-30 House Committee Amendment No. 1 Senate Concurs 056-000-000
  • 2012-05-30 Passed Both Houses
  • 2012-06-28 Sent to the Governor executive-receipt
  • 2012-07-30 Governor Approved executive-signature
  • 2012-07-30 Effective Date July 30, 2012
  • 2012-07-30 Public Act . . . . . . . . . 97-0867 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/dc843419-5d9d-460d-9de5-e0f644c6dac3. Confidence: reported (aggregated from official Illinois legislature records).

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