Illinois 104th General Assembly Status: Introduced 5 D cosponsors

SB3118      — DD FACILITY-ASSET MGMT COMPANY

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 February 02, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

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.

In plain language

The bill requires facilities to disclose ownership and financial information related to asset management companies.

This bill mandates that certain facilities must disclose their ownership details and financial information tied to asset management companies upon applying for a license and quarterly thereafter. It also places restrictions on financial practices and requires state agencies to publish these disclosures online.

Summary

Amends the Community Living Facilities Licensing Act, the MC/DD Act, the ID/DD Community Care Act, the Community-Integrated Living Arrangements Licensure and Certification Act, and the Child Care Act of 1969. Requires the State agencies responsible for licensing facilities under those Acts to adopt, by December 31, 2026, rules requiring a facility to disclose upon initial application for licensure and on a quarterly basis thereafter, whether the facility, its subsidiaries, affiliates, parent companies, or contractual service providers are owned, managed, or contained within a fund owned or managed by an asset management company; and if so, to make certain disclosures about the asset management company's assets, the facility's debt, and other matters. Requires the State agencies to also adopt rules requiring such a facility to provide written notice of transactions and copies of agreements which would (i) sell or otherwise dispose of a material amount of the facility's assets or (ii) transfer control, responsibility, or governance of a material amount of the facility's assets or operations. Prohibits facilities owned or managed by an asset management company from engaging in certain transactions or actions that would result in the facility issuing debt-funded dividends or perform any other similar action causing the facility to become financially distressed. Provides that a violation of these requirements and prohibitions constitutes an unlawful practice within the meaning of the Consumer Fraud and Deceptive Business Practices Act. Requires the State agencies to publish disclosures, written notices, and copies of agreements submitted by facilities on the agencies' public websites. Imposes similar requirements and prohibitions on adult day service providers serving individuals with developmental disabilities under the Illinois Act on the Aging and providers of adult developmental training services under the Mental Health and Developmental Disabilities Administrative Act. Effective immediately.

Bill Text

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

Read SB3118 on the official Illinois source →

Action History

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

  2. Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026

  3. Rule 2-10 Committee Deadline Established As April 24, 2026

  4. Assigned to Executive

  5. Rule 2-10 Committee Deadline Established As March 27, 2026

  6. Added as Co-Sponsor Sen. Ram Villivalam

  7. Added as Chief Co-Sponsor Sen. Omar Aquino

  8. Added as Chief Co-Sponsor Sen. David Koehler

  9. Added as Chief Co-Sponsor Sen. Celina Villanueva

  10. Referred to Assignments

  11. First Reading

  12. Filed with Secretary by Sen. Javier L. Cervantes

Sponsors

Sponsorship breakdown

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1 sponsors · 4 co-sponsors · 178 not signed on

Sponsors (1)

Co-sponsors (4)

Not signed on (178)

178 members have not signed on to this bill.

Show all 178 →

"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

Subjects

public-safety finance civil-rights healthcare labor
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 SB3118      do?
Amends the Community Living Facilities Licensing Act, the MC/DD Act, the ID/DD Community Care Act, the Community-Integrated Living Arrangements Licensure and Certification Act, and the Child Care Act of 1969. Requires the State agencies responsible for licensing facilities under those Acts to adopt, by December 31, 2026, rules requiring a facility to disclose upon initial application for licensure and on a quarterly basis thereafter, whether the facility, its subsidiaries, affiliates, parent companies, or contractual service providers are owned, managed, or contained within a fund owned or managed by an asset management company; and if so, to make certain disclosures about the asset management company's assets, the facility's debt, and other matters. Requires the State agencies to also adopt rules requiring such a facility to provide written notice of transactions and copies of agreements which would (i) sell or otherwise dispose of a material amount of the facility's assets or (ii) transfer control, responsibility, or governance of a material amount of the facility's assets or operations. Prohibits facilities owned or managed by an asset management company from engaging in certain transactions or actions that would result in the facility issuing debt-funded dividends or perform any other similar action causing the facility to become financially distressed. Provides that a violation of these requirements and prohibitions constitutes an unlawful practice within the meaning of the Consumer Fraud and Deceptive Business Practices Act. Requires the State agencies to publish disclosures, written notices, and copies of agreements submitted by facilities on the agencies' public websites. Imposes similar requirements and prohibitions on adult day service providers serving individuals with developmental disabilities under the Illinois Act on the Aging and providers of adult developmental training services under the Mental Health and Developmental Disabilities Administrative Act. Effective immediately.
Who sponsors SB3118     ?
SB3118      is sponsored by Javier L. Cervantes (Democrat), Celina Villanueva (Democrat), David Koehler (Democrat), Omar Aquino (Democrat), and Ram Villivalam (Democrat).
What is the current status of SB3118     ?
This bill has been introduced in the Senate. Introduced February 02, 2026. It must pass committee before a floor vote.
Where can I track SB3118     ?
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Last checked for changes 3 months ago · updated continuously

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