Illinois 104th General Assembly Status: Introduced 2 D cosponsors

SB0169      — STUDENT INVESTMENT ACCOUNT

Last action — Rule 3-9(a) / Re-referred to Assignments

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

This bill has been introduced in the Senate. Introduced January 17, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Stalled 30% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • Introduced

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

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 SB0169 on the official Illinois source →

Action History

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

  2. Rule 2-10 Third Reading Deadline Established As May 9, 2025

  3. Placed on Calendar Order of 3rd Reading March 4, 2025

  4. Second Reading

  5. Placed on Calendar Order of 2nd Reading February 20, 2025

  6. Do Pass as Amended Financial Institutions; 006-000-000

  7. Senate Committee Amendment No. 1 Adopted

  8. Added as Chief Co-Sponsor Sen. Willie Preston

  9. Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions

  10. Senate Committee Amendment No. 1 Referred to Assignments

  11. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Omar Aquino

  12. Assigned to Financial Institutions

  13. Referred to Assignments

  14. First Reading

  15. Filed with Secretary by Sen. Omar Aquino

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 181 not signed on

Sponsors (1)

Co-sponsors (1)

Not signed on (181)

181 members have not signed on to this bill.

Show all 181 →

"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

Financial Institutions

Passed 6 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Democrat 4002
Republican 2001
Total 6003
% of votes cast 67%0%0%33%
How each member voted (9)
Member Party Vote
Laura Ellman Democrat Yea
Mark L. Walker Democrat Yea
Rachel Ventura Democrat Yea
Robert F. Martwick Democrat Not Voting
Steve Stadelman Democrat Yea
Willie Preston Democrat Not Voting
Chapin Rose Republican Yea
Jason Plummer Republican Not Voting
Seth Lewis Republican Yea

Official roll call →

Subjects

finance education
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 SB0169      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 SB0169     ?
SB0169      is sponsored by Omar Aquino (Democrat) and Willie Preston (Democrat).
What is the current status of SB0169     ?
This bill has been introduced in the Senate. Introduced January 17, 2025. It must pass committee before a floor vote.
Where can I track SB0169     ?
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Last checked for changes 3 months ago · updated continuously

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