Illinois 103rd Regular Session Status: Enacted Bipartisan · 3 D · 1 R cosponsors

SB 536 — FINANCE-TECH

Last action — Public Act . . . . . . . . . 103-0880

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

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 chance

Based 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

Likely to advance 98% · high confidence
  • 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 removed

Plain-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.

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Previous
Latest
SB0536 Engrossed LRB103 03007 HLH 48013 b AN ACT concerning finance.
SB0536 Enrolled LRB103 03007 HLH 48013 b AN ACT concerning finance.
(4) in short-term obligations of corporations SB0536 Engrossed - 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);
(4) in short-term obligations of corporations SB0536 Enrolled - 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 Engrossed - 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.
SB0536 Enrolled - 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 Engrossed - 4 - LRB103 03007 HLH 48013 b the shares, or investment certificates of which are insured by the Federal Deposit Insurance Corporation.
Investments may be made only in those savings banks or savings and loan associations SB0536 Enrolled - 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 Engrossed - 5 - LRB103 03007 HLH 48013 b Act of Congress.
and (iii) any other agency created by SB0536 Enrolled - 5 - LRB103 03007 HLH 48013 b Act of Congress.
Such funds must be released to the appropriate person at the earliest reasonable SB0536 Engrossed - 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.
Such funds must be released to the appropriate person at the earliest reasonable SB0536 Enrolled - 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 Engrossed - 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.
(1) The securities, unless registered or inscribed in SB0536 Enrolled - 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 Engrossed - 8 - LRB103 03007 HLH 48013 b trust companies authorized to do business in the State of Illinois or to registered primary reporting dealers.
(4) Trading partners shall be limited to banks or SB0536 Enrolled - 8 - LRB103 03007 HLH 48013 b trust companies authorized to do business in the State of Illinois or to registered primary reporting dealers.
SB0536 Engrossed - 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.
SB0536 Enrolled - 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 Engrossed - 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.
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 Enrolled - 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 Engrossed - 11 - LRB103 03007 HLH 48013 b 2.5 of this Act.
(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 Enrolled - 11 - LRB103 03007 HLH 48013 b 2.5 of this Act.
View plain text versions (3)

Amendments

2 amendments

Click Show changes on an amendment above to see how it modifies the bill.

Action History

  1. Public Act . . . . . . . . . 103-0880

  2. Effective Date January 1, 2025

  3. Governor Approved

  4. Sent to the Governor

  5. Added Alternate Co-Sponsor Rep. Jennifer Sanalitro

  6. Added Alternate Co-Sponsor Rep. Nicole La Ha

  7. Passed Both Houses

  8. Third Reading - Short Debate - Passed 111-000-000

  9. Placed on Calendar Order of 3rd Reading - Short Debate

  10. Held on Calendar Order of Second Reading - Short Debate

  11. Second Reading - Short Debate

  12. Placed on Calendar 2nd Reading - Short Debate

  13. Do Pass / Short Debate Executive Committee; 012-000-000

  14. Added Alternate Co-Sponsor Rep. Jenn Ladisch Douglass

  15. Added Alternate Co-Sponsor Rep. Diane Blair-Sherlock

  16. Added Alternate Co-Sponsor Rep. Maura Hirschauer

  17. Committee/Final Action Deadline Extended-9(b) May 24, 2024

  18. Assigned to Executive Committee

  19. Alternate Chief Sponsor Changed to Rep. Terra Costa Howard

  20. Referred to Rules Committee

  21. First Reading

  22. Chief House Sponsor Rep. Emanuel "Chris" Welch

  23. Arrived in House

  24. Third Reading - Passed; 057-000-000

  25. Placed on Calendar Order of 3rd Reading

  26. Senate Floor Amendment No. 2 Adopted

  27. Senate Floor Amendment No. 1 Adopted

  28. Recalled to Second Reading

  29. Senate Floor Amendment No. 2 Recommend Do Adopt State Government; 008-000-000

  30. Senate Floor Amendment No. 2 Assignments Refers to State Government

  31. Rule 2-10 Third Reading Deadline Established As April 19, 2024

  32. Senate Floor Amendment No. 2 Referred to Assignments

  33. Senate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman

  34. Senate Floor Amendment No. 1 Recommend Do Adopt State Government; 008-000-000

  35. Chief Sponsor Changed to Sen. Laura Ellman

  36. Senate Floor Amendment No. 1 Assignments Refers to State Government

  37. Senate Floor Amendment No. 1 Referred to Assignments

  38. Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman

  39. Placed on Calendar Order of 3rd Reading March 21, 2024

  40. Approved for Consideration Assignments

  41. Rule 3-9(a) / Re-referred to Assignments

  42. Placed on Calendar Order of 3rd Reading March 21, 2023

  43. Second Reading

  44. Placed on Calendar Order of 2nd Reading March 10, 2023

  45. Do Pass Executive; 011-000-000

  46. Assigned to Executive

  47. Referred to Assignments

  48. First Reading

  49. Filed with Secretary by Sen. Don Harmon

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

2 sponsors · 5 co-sponsors · 176 not signed on

Sponsors (2)

Co-sponsors (5)

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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 111 Yea · 0 Nay · 6 Other
Party YeaNayPresentNot Voting
Democrat 62002
Republican 36001
Unaffiliated 13003
Total 111006
% 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

Official roll call →

Executive

Passed 12 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 4000
Democrat 7000
Unaffiliated 1000
Total 12000
% 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

Official roll call →

Third Reading

Passed 57 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 34000
Republican 17000
Unaffiliated 6001
Total 57001
% 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

Official roll call →

Passed 8 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 6000
Unaffiliated 1000
Republican 1001
Total 8001
% 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

Official roll call →

Passed 8 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 5001
Republican 2000
Unaffiliated 1000
Total 8001
% 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

Official roll call →

Executive

Passed 11 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democrat 7001
Republican 3001
Unaffiliated 1000
Total 11002
% 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

Official roll call →

Subjects

Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

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.

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