HB5314

Establishes a non-profit investment pool and electronic payment program for Illinois not-for-profits.

Amends the State Treasurer Act to authorize the creation of a non-profit investment pool and electronic payment processing program. The State Treasurer can receive funds from tax-exempt not-for-profit corporations for holding and investing. Administrative expenses are paid from earnings, with excess interest credited to participating corporations. The Treasurer must develop and publish an investment policy, reviewed every 90 days, and notify participants of any changes. The Treasurer must also provide surety bonds for participating corporations.