Fabio
116 lines
9.1 KiB
Markdown
116 lines
9.1 KiB
Markdown
---
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type: "Bill"
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title: "STUDENT INVESTMENT ACCOUNT"
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description: "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."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "104th"
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identifier: "HB 1430"
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citation: "Illinois HB 1430 (104th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Eva-Dina Delgado", "Omar Aquino"]
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version_count: 4
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action_count: 41
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vote_count: 4
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first_action: "2025-01-16"
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last_action: "2025-08-15"
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source: "openstates"
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source_identifier: "ocd-bill/1ae50cbd-4aae-40d7-9ee0-1de08a346996"
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source_url: "https://ilga.gov/Legislation/BillStatus?DocNum=1430&GAID=18&DocTypeID=HB&LegId=157433&SessionID=114"
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source_hash: "ea1e67e118ee148911ad25a44ee2ed8b46cee5320ddc7bca46304e9c0012cf3a"
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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 HB 1430 (104th) — STUDENT INVESTMENT ACCOUNT
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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.
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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](https://ilga.gov/documents/legislation/104/HB/PDF/10400HB1430.pdf)
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2. **Engrossed** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/HB/PDF/10400HB1430eng.pdf)
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3. **House Amendment 001** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/HB/PDF/10400HB1430ham001.pdf)
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4. **Enrolled** (enrolled) — [source](https://ilga.gov/documents/legislation/104/HB/PDF/10400HB1430enr.pdf)
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## Votes
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- Higher Education — **10–1** (pass) · lower
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- Third Reading — **46–12** (pass) · upper
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- Third Reading — **67–38** (pass) · lower
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- Financial Institutions — **7–1** (pass) · upper
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## Sponsors
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- Eva-Dina Delgado — primary (person)
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- Omar Aquino — primary (person)
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- Angelica Guerrero-Cuellar — cosponsor (person)
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- Barbara Hernandez — cosponsor (person)
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- Carol Ammons — cosponsor (person)
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- Graciela Guzmán — cosponsor (person)
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- Hoan Huynh — cosponsor (person)
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- Jaime M. Andrade, Jr. — cosponsor (person)
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- Kelly M. Cassidy — cosponsor (person)
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- Kevin John Olickal — cosponsor (person)
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- Mark L. Walker — cosponsor (person)
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- Robert F. Martwick — cosponsor (person)
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- Robert Peters — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-01-16** Filed with the Clerk by Rep. Eva-Dina Delgado `filing`
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- **2025-01-28** First Reading `reading-1`
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- **2025-01-28** Referred to Rules Committee
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- **2025-02-18** Assigned to Higher Education Committee `referral-committee`
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- **2025-02-18** House Committee Amendment No. 1 Filed with Clerk by Rep. Eva-Dina Delgado `amendment-introduction`
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- **2025-02-18** House Committee Amendment No. 1 Referred to Rules Committee
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- **2025-02-25** House Committee Amendment No. 1 Rules Refers to Higher Education Committee
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- **2025-02-26** Added Co-Sponsor Rep. Barbara Hernandez
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- **2025-02-26** House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote `amendment-passage`
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- **2025-02-26** Do Pass as Amended / Short Debate Higher Education Committee; 010-001-000
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- **2025-02-27** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2025-03-12** Added Chief Co-Sponsor Rep. Carol Ammons
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- **2025-03-18** Second Reading - Short Debate `reading-2`
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- **2025-03-18** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2025-04-01** Added Co-Sponsor Rep. Angelica Guerrero-Cuellar
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- **2025-04-04** Added Co-Sponsor Rep. Kevin John Olickal
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- **2025-04-04** Added Co-Sponsor Rep. Kelly M. Cassidy
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- **2025-04-07** Third Reading - Short Debate - Passed 067-038-001 `passage, reading-3`
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- **2025-04-07** Added Co-Sponsor Rep. Jaime M. Andrade, Jr.
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- **2025-04-07** Added Co-Sponsor Rep. Hoan Huynh
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- **2025-04-08** Arrive in Senate `introduction`
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- **2025-04-08** Placed on Calendar Order of First Reading `reading-1`
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- **2025-04-08** Chief Senate Sponsor Sen. Omar Aquino
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- **2025-04-08** First Reading `reading-1`
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- **2025-04-08** Referred to Assignments
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- **2025-04-23** Assigned to Financial Institutions `referral-committee`
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- **2025-04-25** Added as Alternate Chief Co-Sponsor Sen. Mark L. Walker
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- **2025-04-30** Postponed - Financial Institutions
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- **2025-05-06** Added as Alternate Chief Co-Sponsor Sen. Robert F. Martwick
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- **2025-05-06** Added as Alternate Chief Co-Sponsor Sen. Robert Peters
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- **2025-05-07** Do Pass Financial Institutions; 007-001-000
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- **2025-05-07** Placed on Calendar Order of 2nd Reading May 8, 2025 `reading-2`
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- **2025-05-08** Second Reading `reading-2`
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- **2025-05-08** Placed on Calendar Order of 3rd Reading May 13, 2025
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- **2025-05-14** Added as Alternate Co-Sponsor Sen. Graciela Guzmán
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- **2025-05-22** Third Reading - Passed; 046-012-000 `passage, reading-3`
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- **2025-05-22** Passed Both Houses
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- **2025-06-20** Sent to the Governor `executive-receipt`
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- **2025-08-15** Governor Approved `executive-signature`
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- **2025-08-15** Effective Date August 15, 2025
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- **2025-08-15** Public Act . . . . . . . . . 104-0180 `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/1ae50cbd-4aae-40d7-9ee0-1de08a346996`. Confidence: reported (aggregated from official Illinois legislature records).
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