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 would allow the State Treasurer to create a non-profit investment pool and an electronic payment processing program to benefit 501(c)(3) and 501(c)(5) organizations. Non-profit organizations would be able to deposit funds with the Treasurer and potentially benefit from the Treasurer's higher investment returns. The bill was vetoed by the Governor, citing concerns that it could allow fringe and extremist groups to benefit from the state's financial investments.
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