SB 536 — FINANCE-TECH
Last action — Public Act . . . . . . . . . 103-0880
-
✓Introduced
-
✓In Committee
-
✓Passed Senate
-
✓Passed House
-
✓To Executive
-
6Enacted
This bill has been enacted into law. Introduced February 02, 2023. Enacted.
Signed by Governor JB Pritzker (Democratic) on August 09, 2024.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
-
Enacted
Current position in the legislative process.
-
7 sponsors
2 primary, 5 co-sponsors signed on.
-
Bipartisan support
Sponsored across 2 parties (3 D · 1 R) — cross-party backing.
-
Cleared a recorded vote
Passed 6 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Summary
Amends the State Revenue Sharing Act. Makes a technical change in a Section concerning the short title.
Bill Text
What changed in the latest version
11 added · 11 removedPlain-language change summary
The latest version of Bill SB 536 has added new line items while removing some previous lines. This change likely reflects updates or clarifications to specific provisions in the bill, which could be crucial for its implementation or understanding. By streamlining the language, lawmakers aim to make the bill more effective and easier to follow. This matters because clearer legislation can lead to better compliance and enforcement.
SB0536 EngrossedEnrolled LRB103 03007 HLH 48013 b AN ACT concerning finance.
(4) in short-term obligations of corporations SB0536 EngrossedEnrolled - 2 - LRB103 03007 HLH 48013 b organized in the United States with assets exceeding $500,000,000 if (i) such obligations are rated at the time of purchase at one of the 3 highest classifications established by at least 2 standard rating services and which mature not later than 270 days from the date of purchase, (ii) such purchases do not exceed 10% of the corporation's outstanding obligations, and (iii) no more than one-third of the public agency's funds may be invested in short-term obligations of corporations under this paragraph (4);
SB0536 EngrossedEnrolled - 3 - LRB103 03007 HLH 48013 b (a-1) In addition to any other investments authorized under this Act, a municipality, park district, forest preserve district, conservation district, county, or other governmental unit may invest its public funds in interest bearing bonds of any county, township, city, village, incorporated town, municipal corporation, or school district, of the State of Illinois, of any other state, or of any political subdivision or agency of the State of Illinois or of any other state, whether the interest earned thereon is taxable or tax-exempt under federal law.
Investments may be made only in those savings banks or savings and loan associations SB0536 EngrossedEnrolled - 4 - LRB103 03007 HLH 48013 b the shares, or investment certificates of which are insured by the Federal Deposit Insurance Corporation.
and (iii) any other agency created by SB0536 EngrossedEnrolled - 5 - LRB103 03007 HLH 48013 b Act of Congress.
Such funds must be released to the appropriate person at the earliest reasonable SB0536 EngrossedEnrolled - 6 - LRB103 03007 HLH 48013 b time, but in no case exceeding 31 days, after the private person becomes entitled to the receipt of them.
(1) The securities, unless registered or inscribed in SB0536 EngrossedEnrolled - 7 - LRB103 03007 HLH 48013 b the name of the public agency, are purchased through banks or trust companies authorized to do business in the State of Illinois.
(4) Trading partners shall be limited to banks or SB0536 EngrossedEnrolled - 8 - LRB103 03007 HLH 48013 b trust companies authorized to do business in the State of Illinois or to registered primary reporting dealers.
SB0536 EngrossedEnrolled - 9 - LRB103 03007 HLH 48013 b (11) The custodial bank shall be liable to the public agency for any monetary loss suffered by the public agency due to the failure of the custodial bank to take and maintain possession of such securities.
provided further that the securities shall be either (i) direct general obligations of, or obligations the payment of the principal of and/or interest on which are unconditionally guaranteed by, the United States of America or (ii) any obligations of any agency, corporation or subsidiary thereof controlled or supervised by and acting as an instrumentality of the United States Government pursuant to authority granted by the Congress of the United States and SB0536 EngrossedEnrolled - 10 - LRB103 03007 HLH 48013 b provided further that the security interest must be perfected by either the Illinois Housing Development Authority, its custodian or its agent receiving possession of the securities either physically or transferred through a nationally recognized book entry system.
(k) In addition to all other investments authorized under this Section, a public agency may adopt an ordinance or resolution to allow for investment of public funds in other instruments not specifically listed in this Section provided that those investments comply with (i) any other law that authorizes public agencies to invest funds and (ii) the investment policy adopted by the public agency under Section SB0536 EngrossedEnrolled - 11 - LRB103 03007 HLH 48013 b 2.5 of this Act.
Amendments
2 amendmentsClick Show changes on an amendment above to see how it modifies the bill.
Action History
-
Public Act . . . . . . . . . 103-0880
-
Effective Date January 1, 2025
-
Governor Approved
-
Sent to the Governor
-
Added Alternate Co-Sponsor Rep. Jennifer Sanalitro
-
Added Alternate Co-Sponsor Rep. Nicole La Ha
-
Passed Both Houses
-
Third Reading - Short Debate - Passed 111-000-000
-
Placed on Calendar Order of 3rd Reading - Short Debate
-
Held on Calendar Order of Second Reading - Short Debate
-
Second Reading - Short Debate
-
Placed on Calendar 2nd Reading - Short Debate
-
Do Pass / Short Debate Executive Committee; 012-000-000
-
Added Alternate Co-Sponsor Rep. Jenn Ladisch Douglass
-
Added Alternate Co-Sponsor Rep. Diane Blair-Sherlock
-
Added Alternate Co-Sponsor Rep. Maura Hirschauer
-
Committee/Final Action Deadline Extended-9(b) May 24, 2024
-
Assigned to Executive Committee
-
Alternate Chief Sponsor Changed to Rep. Terra Costa Howard
-
Referred to Rules Committee
-
First Reading
-
Chief House Sponsor Rep. Emanuel "Chris" Welch
-
Arrived in House
-
Third Reading - Passed; 057-000-000
-
Placed on Calendar Order of 3rd Reading
-
Senate Floor Amendment No. 2 Adopted
-
Senate Floor Amendment No. 1 Adopted
-
Recalled to Second Reading
-
Senate Floor Amendment No. 2 Recommend Do Adopt State Government; 008-000-000
-
Senate Floor Amendment No. 2 Assignments Refers to State Government
-
Rule 2-10 Third Reading Deadline Established As April 19, 2024
-
Senate Floor Amendment No. 2 Referred to Assignments
-
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman
-
Senate Floor Amendment No. 1 Recommend Do Adopt State Government; 008-000-000
-
Chief Sponsor Changed to Sen. Laura Ellman
-
Senate Floor Amendment No. 1 Assignments Refers to State Government
-
Senate Floor Amendment No. 1 Referred to Assignments
-
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
-
Placed on Calendar Order of 3rd Reading March 21, 2024
-
Approved for Consideration Assignments
-
Rule 3-9(a) / Re-referred to Assignments
-
Placed on Calendar Order of 3rd Reading March 21, 2023
-
Second Reading
-
Placed on Calendar Order of 2nd Reading March 10, 2023
-
Do Pass Executive; 011-000-000
-
Assigned to Executive
-
Referred to Assignments
-
First Reading
-
Filed with Secretary by Sen. Don Harmon
Sponsors
- Laura Ellman · Primary
- Maura Hirschauer · Cosponsor
- Diane Blair-Sherlock · Cosponsor
- Jennifer Sanalitro · Cosponsor
- La Ha · Cosponsor
- Costa Howard · Primary
- Ladisch Douglass · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 5 co-sponsors · 176 not signed on
Sponsors (2)
- Laura Ellman Democrat
- Costa Howard
Co-sponsors (5)
- Maura Hirschauer Democrat
- Diane Blair-Sherlock Democrat
- Jennifer Sanalitro Republican
- La Ha
- Ladisch Douglass
Not signed on (176)
176 members have not signed on to this bill.
Show all 176 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 62 | 0 | 0 | 2 |
| Republican | 36 | 0 | 0 | 1 |
| Unaffiliated | 13 | 0 | 0 | 3 |
| Total | 111 | 0 | 0 | 6 |
| % of votes cast | 95% | 0% | 0% | 5% |
How each member voted (117)
| Member | Party | Vote |
|---|---|---|
| Ortiz | — | Yea |
| Burke | — | Yea |
| Caulkins | — | Yea |
| Flowers | — | Not Voting |
| Frese | — | Yea |
| Yednock | — | Yea |
| Nichols | — | Not Voting |
| Costa Howard | — | Yea |
| Du Buclet | — | Yea |
| Faver Dias | — | Yea |
| Hernandez, Lisa | — | Yea |
| Katz Muhl | — | Yea |
| La Ha | — | Yea |
| Ladisch Douglass | — | Yea |
| Williams, Jawaharial | — | Yea |
| Yang Rohr | — | Not Voting |
| Abdelnasser Rashid | Democrat | Yea |
| Angelica Guerrero-Cuellar | Democrat | Yea |
| Ann M. Williams | Democrat | Yea |
| Anna Moeller | Democrat | Yea |
| Anne Stava | Democrat | Yea |
| Anthony DeLuca | Democrat | Yea |
| Barbara Hernandez | Democrat | Yea |
| Bob Morgan | Democrat | Yea |
| Camille Y. Lilly | Democrat | Yea |
| Carol Ammons | Democrat | Yea |
| Curtis J. Tarver, II | Democrat | Yea |
| Dagmara Avelar | Democrat | Yea |
| Daniel Didech | Democrat | Yea |
| Dave Vella | Democrat | Yea |
| Debbie Meyers-Martin | Democrat | Yea |
| Diane Blair-Sherlock | Democrat | Yea |
| Edgar González, Jr. | Democrat | Yea |
| Emanuel "Chris" Welch | Democrat | Yea |
| Eva-Dina Delgado | Democrat | Yea |
| Fred Crespo | Democrat | Yea |
| Gregg Johnson | Democrat | Yea |
| Harry Benton | Democrat | Yea |
| Hoan Huynh | Democrat | Yea |
| Jaime M. Andrade, Jr. | Democrat | Not Voting |
| Jay Hoffman | Democrat | Yea |
| Jehan Gordon-Booth | Democrat | Yea |
| Jennifer Gong-Gershowitz | Democrat | Yea |
| Joyce Mason | Democrat | Yea |
| Justin Slaughter | Democrat | Yea |
| Kam Buckner | Democrat | Yea |
| Katie Stuart | Democrat | Yea |
| Kelly M. Cassidy | Democrat | Yea |
| Kevin John Olickal | Democrat | Yea |
| La Shawn K. Ford | Democrat | Yea |
| Lawrence "Larry" Walsh, Jr. | Democrat | Yea |
| Lilian Jiménez | Democrat | Yea |
| Lindsey LaPointe | Democrat | Yea |
| Marcus C. Evans, Jr. | Democrat | Yea |
| Margaret Croke | Democrat | Yea |
| Martin J. Moylan | Democrat | Yea |
| Mary Beth Canty | Democrat | Yea |
| Mary Gill | Democrat | Yea |
| Matt Hanson | Democrat | Yea |
| Maura Hirschauer | Democrat | Yea |
| Maurice A. West, II | Democrat | Yea |
| Michael J. Kelly | Democrat | Yea |
| Michelle Mussman | Democrat | Yea |
| Nabeela Syed | Democrat | Yea |
| Natalie A. Manley | Democrat | Yea |
| Nicholas K. Smith | Democrat | Yea |
| Norma Hernandez | Democrat | Yea |
| Rita Mayfield | Democrat | Yea |
| Robert "Bob" Rita | Democrat | Yea |
| Robyn Gabel | Democrat | Yea |
| Sharon Chung | Democrat | Yea |
| Sonya M. Harper | Democrat | Yea |
| Stephanie A. Kifowit | Democrat | Yea |
| Sue Scherer | Democrat | Yea |
| Suzanne M. Ness | Democrat | Yea |
| Thaddeus Jones | Democrat | Not Voting |
| Theresa Mah | Democrat | Yea |
| Will Guzzardi | Democrat | Yea |
| William "Will" Davis | Democrat | Yea |
| Yolonda Morris | Democrat | Yea |
| Adam M. Niemerg | Republican | Yea |
| Amy Elik | Republican | Yea |
| Amy L. Grant | Republican | Yea |
| Blaine Wilhour | Republican | Yea |
| Brad Halbrook | Republican | Yea |
| Brad Stephens | Republican | Yea |
| Bradley Fritts | Republican | Yea |
| Brandun Schweizer | Republican | Yea |
| Charles Meier | Republican | Yea |
| Chris Miller | Republican | Yea |
| Christopher "C.D." Davidsmeyer | Republican | Yea |
| Dan Swanson | Republican | Yea |
| Daniel J. Ugaste | Republican | Yea |
| Dave Severin | Republican | Yea |
| David Friess | Republican | Yea |
| Dennis Tipsword | Republican | Yea |
| Jackie Haas | Republican | Yea |
| Jason R. Bunting | Republican | Yea |
| Jed Davis | Republican | Yea |
| Jeff Keicher | Republican | Yea |
| Jennifer Sanalitro | Republican | Yea |
| Joe C. Sosnowski | Republican | Yea |
| John M. Cabello | Republican | Yea |
| Kevin Schmidt | Republican | Yea |
| Martin McLaughlin | Republican | Yea |
| Michael J. Coffey, Jr. | Republican | Yea |
| Norine K. Hammond | Republican | Yea |
| Patrick Sheehan | Republican | Yea |
| Patrick Windhorst | Republican | Yea |
| Paul Jacobs | Republican | Yea |
| Ryan Spain | Republican | Yea |
| Steven Reick | Republican | Yea |
| Tom Weber | Republican | Yea |
| Tony M. McCombie | Republican | Yea |
| Travis Weaver | Republican | Yea |
| Wayne A. Rosenthal | Republican | Not Voting |
| William E Hauter | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 4 | 0 | 0 | 0 |
| Democrat | 7 | 0 | 0 | 0 |
| Unaffiliated | 1 | 0 | 0 | 0 |
| Total | 12 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (12)
| Member | Party | Vote |
|---|---|---|
| Ortiz, Aaron M | — | Yea |
| Camille Y. Lilly | Democrat | Yea |
| Elizabeth "Lisa" Hernandez | Democrat | Yea |
| Kam Buckner | Democrat | Yea |
| Marcus C. Evans, Jr. | Democrat | Yea |
| Nicholas K. Smith | Democrat | Yea |
| Robert "Bob" Rita | Democrat | Yea |
| Theresa Mah | Democrat | Yea |
| Christopher "C.D." Davidsmeyer | Republican | Yea |
| John M. Cabello | Republican | Yea |
| Norine K. Hammond | Republican | Yea |
| Ryan Spain | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 34 | 0 | 0 | 0 |
| Republican | 17 | 0 | 0 | 0 |
| Unaffiliated | 6 | 0 | 0 | 1 |
| Total | 57 | 0 | 0 | 1 |
| % of votes cast | 98% | 0% | 0% | 2% |
How each member voted (58)
| Member | Party | Vote |
|---|---|---|
| Stoller | — | Yea |
| Bennett | — | Yea |
| Toro | — | Yea |
| Simmons | — | Yea |
| Harris, N. | — | Not Voting |
| Glowiak Hilton | — | Yea |
| Loughran Cappel | — | Yea |
| Bill Cunningham | Democrat | Yea |
| Celina Villanueva | Democrat | Yea |
| Christopher Belt | Democrat | Yea |
| Cristina Castro | Democrat | Yea |
| David Koehler | Democrat | Yea |
| Don Harmon | Democrat | Yea |
| Doris Turner | Democrat | Yea |
| Elgie R. Sims, Jr. | Democrat | Yea |
| Emil Jones, III | Democrat | Yea |
| Gregg Johnson | Democrat | Yea |
| Javier L. Cervantes | Democrat | Yea |
| Julie A. Morrison | Democrat | Yea |
| Karina Villa | Democrat | Yea |
| Kimberly A. Lightford | Democrat | Yea |
| Lakesia Collins | Democrat | Yea |
| Laura Ellman | Democrat | Yea |
| Laura Fine | Democrat | Yea |
| Laura M. Murphy | Democrat | Yea |
| Linda Holmes | Democrat | Yea |
| Mary Edly-Allen | Democrat | Yea |
| Mattie Hunter | Democrat | Yea |
| Michael E. Hastings | Democrat | Yea |
| Michael W. Halpin | Democrat | Yea |
| Mike Porfirio | Democrat | Yea |
| Omar Aquino | Democrat | Yea |
| Patrick J. Joyce | Democrat | Yea |
| Paul Faraci | Democrat | Yea |
| Rachel Ventura | Democrat | Yea |
| Ram Villivalam | Democrat | Yea |
| Robert F. Martwick | Democrat | Yea |
| Robert Peters | Democrat | Yea |
| Sara Feigenholtz | Democrat | Yea |
| Steve Stadelman | Democrat | Yea |
| Willie Preston | Democrat | Yea |
| Andrew S. Chesney | Republican | Yea |
| Chapin Rose | Republican | Yea |
| Craig Wilcox | Republican | Yea |
| Dale Fowler | Republican | Yea |
| Dan McConchie | Republican | Yea |
| Dave Syverson | Republican | Yea |
| Donald P. DeWitte | Republican | Yea |
| Erica Harriss | Republican | Yea |
| Jason Plummer | Republican | Yea |
| Jil Tracy | Republican | Yea |
| John F. Curran | Republican | Yea |
| Neil Anderson | Republican | Yea |
| Sally J. Turner | Republican | Yea |
| Seth Lewis | Republican | Yea |
| Steve McClure | Republican | Yea |
| Sue Rezin | Republican | Yea |
| Terri Bryant | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 6 | 0 | 0 | 0 |
| Unaffiliated | 1 | 0 | 0 | 0 |
| Republican | 1 | 0 | 0 | 1 |
| Total | 8 | 0 | 0 | 1 |
| % of votes cast | 89% | 0% | 0% | 11% |
How each member voted (9)
| Member | Party | Vote |
|---|---|---|
| Stoller, Win | — | Yea |
| Doris Turner | Democrat | Yea |
| Meg Loughran Cappel | Democrat | Yea |
| Michael W. Halpin | Democrat | Yea |
| Patrick J. Joyce | Democrat | Yea |
| Steve Stadelman | Democrat | Yea |
| Willie Preston | Democrat | Yea |
| Donald P. DeWitte | Republican | Not Voting |
| Sally J. Turner | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 5 | 0 | 0 | 1 |
| Republican | 2 | 0 | 0 | 0 |
| Unaffiliated | 1 | 0 | 0 | 0 |
| Total | 8 | 0 | 0 | 1 |
| % of votes cast | 89% | 0% | 0% | 11% |
How each member voted (9)
| Member | Party | Vote |
|---|---|---|
| Stoller, Win | — | Yea |
| Doris Turner | Democrat | Yea |
| Meg Loughran Cappel | Democrat | Yea |
| Michael W. Halpin | Democrat | Yea |
| Patrick J. Joyce | Democrat | Yea |
| Steve Stadelman | Democrat | Not Voting |
| Willie Preston | Democrat | Yea |
| Donald P. DeWitte | Republican | Yea |
| Sally J. Turner | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Democrat | 7 | 0 | 0 | 1 |
| Republican | 3 | 0 | 0 | 1 |
| Unaffiliated | 1 | 0 | 0 | 0 |
| Total | 11 | 0 | 0 | 2 |
| % of votes cast | 85% | 0% | 0% | 15% |
How each member voted (13)
| Member | Party | Vote |
|---|---|---|
| Harris III, Napoleon | — | Yea |
| Bill Cunningham | Democrat | Yea |
| Cristina Castro | Democrat | Yea |
| Don Harmon | Democrat | Yea |
| Kimberly A. Lightford | Democrat | Yea |
| Laura M. Murphy | Democrat | Not Voting |
| Linda Holmes | Democrat | Yea |
| Mattie Hunter | Democrat | Yea |
| Omar Aquino | Democrat | Yea |
| Jil Tracy | Republican | Yea |
| John F. Curran | Republican | Yea |
| Neil Anderson | Republican | Not Voting |
| Sue Rezin | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 536 do?
- Amends the State Revenue Sharing Act. Makes a technical change in a Section concerning the short title.
- Who sponsors SB 536?
- SB 536 is sponsored by Laura Ellman (Democrat), Maura Hirschauer (Democrat), Diane Blair-Sherlock (Democrat), Jennifer Sanalitro (Republican), La Ha, Costa Howard, and Ladisch Douglass.
- What is the current status of SB 536?
- This bill has been enacted into law. Introduced February 02, 2023. Enacted.
- Where can I track SB 536?
- Track SB 536 free on One Click Politics — get push/email alerts when it moves.
Make your voice heard on SB 536
Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.
Stay ahead of SB 536
Last checked for changes 3 months ago · updated continuously
One Click Politics tracks every bill in Congress and all 50 states.
Track this bill →