Illinois 104th General Assembly Status: To Executive 8 D cosponsors

HB1430      — STUDENT INVESTMENT ACCOUNT

Last action — Public Act . . . . . . . . . 104-0180

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

This bill has been sent to the executive. Introduced January 16, 2025. It awaits signature.

Next likely step: the executive signs it into law or issues a veto.

Odds of enactment

Moderate chance

Based on the sponsor, cosponsors, and committee posture, this bill has a moderate 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 74% · moderate confidence

  • To Executive

    Current position in the legislative process.

  • 13 sponsors

    1 primary, 12 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (8 D).

  • Cleared a recorded vote

    Passed 4 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 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.

Bill Text

We don't have the full text on file for this bill yet.

Read HB1430 on the official Illinois source →

Action History

  1. Public Act . . . . . . . . . 104-0180

  2. Effective Date August 15, 2025

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 046-012-000

  7. Added as Alternate Co-Sponsor Sen. Graciela Guzmán

  8. Placed on Calendar Order of 3rd Reading May 13, 2025

  9. Second Reading

  10. Placed on Calendar Order of 2nd Reading May 8, 2025

  11. Do Pass Financial Institutions; 007-001-000

  12. Added as Alternate Chief Co-Sponsor Sen. Robert Peters

  13. Added as Alternate Chief Co-Sponsor Sen. Robert F. Martwick

  14. Postponed - Financial Institutions

  15. Added as Alternate Chief Co-Sponsor Sen. Mark L. Walker

  16. Assigned to Financial Institutions

  17. Referred to Assignments

  18. First Reading

  19. Chief Senate Sponsor Sen. Omar Aquino

  20. Placed on Calendar Order of First Reading

  21. Arrive in Senate

  22. Added Co-Sponsor Rep. Hoan Huynh

  23. Added Co-Sponsor Rep. Jaime M. Andrade, Jr.

  24. Third Reading - Short Debate - Passed 067-038-001

  25. Added Co-Sponsor Rep. Kelly M. Cassidy

  26. Added Co-Sponsor Rep. Kevin John Olickal

  27. Added Co-Sponsor Rep. Angelica Guerrero-Cuellar

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

  29. Second Reading - Short Debate

  30. Added Chief Co-Sponsor Rep. Carol Ammons

  31. Placed on Calendar 2nd Reading - Short Debate

  32. Do Pass as Amended / Short Debate Higher Education Committee; 010-001-000

  33. House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote

  34. Added Co-Sponsor Rep. Barbara Hernandez

  35. House Committee Amendment No. 1 Rules Refers to Higher Education Committee

  36. House Committee Amendment No. 1 Referred to Rules Committee

  37. House Committee Amendment No. 1 Filed with Clerk by Rep. Eva-Dina Delgado

  38. Assigned to Higher Education Committee

  39. Referred to Rules Committee

  40. First Reading

  41. Filed with the Clerk by Rep. Eva-Dina Delgado

Sponsors

Sponsorship breakdown

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1 sponsors · 12 co-sponsors · 170 not signed on · 49 voted No

Sponsors (1)

Co-sponsors (12)

Not signed on (170)

170 members have not signed on to this bill.

Show all 170 →

"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 46 Yea · 12 Nay
Party YeaNayPresentNot Voting
Republican 71200
Democrat 37001
Unaffiliated 1000
Total 451201
% of votes cast 78%21%0%2%
How each member voted (58)
Member Party Vote
Johnson — Yea
Bill Cunningham Democrat Yea
Celina Villanueva Democrat Yea
Christopher Belt Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Yea
Doris Turner Democrat Yea
Elgie R. Sims, Jr. Democrat Yea
Graciela Guzmán 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
Mark L. Walker Democrat Yea
Mary Edly-Allen Democrat Yea
Mattie Hunter Democrat Yea
Meg Loughran Cappel Democrat Not Voting
Michael E. Hastings Democrat Yea
Michael W. Halpin Democrat Yea
Mike Porfirio Democrat Yea
Mike Simmons Democrat Yea
Napoleon Harris III 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
Suzy Glowiak Hilton Democrat Yea
Thaddeus Jones Democrat Yea
Willie Preston Democrat Yea
Andrew S. Chesney Republican Nay
Chapin Rose Republican Nay
Chris Balkema Republican Nay
Craig Wilcox Republican Nay
Dale Fowler Republican Nay
Darby A. Hills Republican Yea
Dave Syverson Republican Nay
Donald P. DeWitte Republican Yea
Erica Harriss Republican Yea
Jason Plummer Republican Nay
Jil Tracy Republican Nay
John F. Curran Republican Yea
Li Arellano, Jr. Republican Nay
Neil Anderson Republican Nay
Sally J. Turner Republican Nay
Seth Lewis Republican Yea
Steve McClure Republican Yea
Sue Rezin Republican Yea
Terri Bryant Republican Nay

Official roll call →

Third Reading

Passed 67 Yea · 38 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 630011
Republican 03702
Unaffiliated 3100
Total 6638013
% of votes cast 56%32%0%11%
How each member voted (117)
Member Party Vote
Jacobs — Nay
Johnson — Yea
Stava-Murray — Yea
Hernandez, Lisa — Yea
Aarón M. Ortíz Democrat Yea
Abdelnasser Rashid Democrat Yea
Amy Briel Democrat Yea
Angelica Guerrero-Cuellar Democrat Yea
Ann M. Williams Democrat Yea
Anna Moeller Democrat Yea
Anthony DeLuca Democrat Yea
Barbara Hernandez Democrat Yea
Bob Morgan Democrat Yea
Camille Y. Lilly Democrat Not Voting
Carol Ammons Democrat Not Voting
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
Eva-Dina Delgado Democrat Yea
Fred Crespo Democrat Yea
Harry Benton Democrat Not Voting
Hoan Huynh Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Janet Yang Rohr Democrat Not Voting
Jawaharial Williams Democrat Yea
Jay Hoffman Democrat Not Voting
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
Kimberly Du Buclet Democrat Yea
La Shawn K. Ford Democrat Yea
Laura Faver Dias Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Lilian Jiménez Democrat Not Voting
Lindsey LaPointe Democrat Yea
Lisa Davis Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Margaret Croke Democrat Yea
Martha Deuter Democrat Yea
Martin J. Moylan Democrat Yea
Mary Beth Canty Democrat Yea
Mary Gill Democrat Yea
Matt Hanson Democrat Not Voting
Maura Hirschauer Democrat Yea
Maurice A. West, II Democrat Yea
Michael Crawford Democrat Yea
Michael J. Kelly Democrat Not Voting
Michelle Mussman Democrat Yea
Nabeela Syed Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Nicolle Grasse Democrat Yea
Norma Hernandez Democrat Yea
Rick Ryan Democrat Yea
Rita Mayfield Democrat Not Voting
Robert "Bob" Rita Democrat Yea
Robyn Gabel Democrat Yea
Sharon Chung Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Not Voting
Sue Scherer Democrat Not Voting
Suzanne M. Ness Democrat Yea
Terra Costa Howard Democrat Yea
Thaddeus Jones Democrat Yea
Theresa Mah Democrat Yea
Tracy Katz Muhl Democrat Yea
Will Guzzardi Democrat Yea
William "Will" Davis Democrat Yea
Yolonda Morris Democrat Yea
Adam M. Niemerg Republican Nay
Amy Elik Republican Nay
Amy L. Grant Republican Nay
Blaine Wilhour Republican Nay
Brad Halbrook Republican Nay
Brad Stephens Republican Not Voting
Bradley Fritts Republican Nay
Brandun Schweizer Republican Nay
Charles Meier Republican Nay
Chris Miller Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Dan Swanson Republican Nay
Daniel J. Ugaste Republican Nay
Dave Severin Republican Nay
David Friess Republican Nay
Dennis Tipsword Republican Nay
Jackie Haas Republican Nay
Jason R. Bunting Republican Nay
Jed Davis Republican Nay
Jeff Keicher Republican Nay
Jennifer Sanalitro Republican Nay
Joe C. Sosnowski Republican Nay
John M. Cabello Republican Nay
Kevin Schmidt Republican Nay
Kyle Moore Republican Nay
Martin McLaughlin Republican Nay
Michael J. Coffey, Jr. Republican Nay
Nicole La Ha Republican Nay
Norine K. Hammond Republican Nay
Patrick Sheehan Republican Nay
Patrick Windhorst Republican Nay
Regan Deering Republican Nay
Ryan Spain Republican Nay
Steven Reick Republican Nay
Tom Weber Republican Nay
Tony M. McCombie Republican Nay
Travis Weaver Republican Not Voting
Wayne A. Rosenthal Republican Nay
William E Hauter Republican Nay

Official roll call →

Higher Education

Passed 10 Yea · 1 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 7001
Republican 3100
Total 10101
% of votes cast 83%8%0%8%
How each member voted (12)
Member Party Vote
Barbara Hernandez Democrat Not Voting
Carol Ammons Democrat Yea
Diane Blair-Sherlock Democrat Yea
Eva-Dina Delgado Democrat Yea
Jennifer Gong-Gershowitz Democrat Yea
Katie Stuart Democrat Yea
Sharon Chung Democrat Yea
Tracy Katz Muhl Democrat Yea
Dan Swanson Republican Yea
Daniel J. Ugaste Republican Nay
David Friess Republican Yea
Wayne A. Rosenthal Republican Yea

Official roll call →

Subjects

finance education
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Frequently asked questions

What does HB1430      do?
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.
Who sponsors HB1430     ?
HB1430      is sponsored by Omar Aquino, Mark L. Walker, Robert F. Martwick, Robert Peters, Graciela Guzmán, Eva-Dina Delgado (Democrat), Carol Ammons (Democrat), Barbara Hernandez (Democrat), Angelica Guerrero-Cuellar (Democrat), Kevin John Olickal (Democrat), Kelly M. Cassidy (Democrat), Jaime M. Andrade, Jr. (Democrat), and Hoan Huynh (Democrat).
What is the current status of HB1430     ?
This bill has been sent to the executive. Introduced January 16, 2025. It awaits signature.
Where can I track HB1430     ?
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