Illinois SB0246 would allow the State Treasurer to create a non-profit investment pool for 501(c)(3) and 501(c)(5) organizations.

Illinois SB0246 aimed to establish a non-profit investment pool and an electronic payment processing program to benefit 501(c)(3) and 501(c)(5) organizations. The bill would allow non-profit organizations to deposit funds with the State Treasurer and potentially benefit from higher investment returns. However, the bill was vetoed due to concerns that it could allow fringe and extremist groups to exploit the state's financial mission.

Illinois SB0246 would allow the State Treasurer to create a non-profit investment pool for 501(c)(3) and 501(c)(5) organizations.

Illinois SB0246 aimed to establish a non-profit investment pool and an electronic payment processing program to benefit 501(c)(3) and 501(c)(5) organizations. The bill would allow non-profit organizations to deposit funds with the State Treasurer and potentially benefit from higher investment returns. However, the bill was vetoed due to concerns that it could allow fringe and extremist groups to exploit the state's financial mission.