Establishes a non-profit investment pool and electronic payment processing program for Illinois not-for-profit corporations.
The bill amends the State Treasurer Act to allow the State Treasurer to establish and administer a non-profit investment pool and an electronic payment processing program. These programs aim to supplement and enhance investment opportunities and secure electronic payment options for not-for-profit corporations in Illinois. The Treasurer must develop, publish, and implement an investment policy for the pool, which is reviewed and updated within 90 days of a new Treasurer's installation.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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