Illinois SB2968 allows the State Treasurer to establish a non-profit investment pool and electronic payment processing program for not-for-profit.

Illinois SB2968 amends the State Treasurer Act to authorize the State Treasurer to establish and administer a non-profit investment pool and an electronic payment processing program. This program aims to supplement and enhance investment opportunities and secure electronic payment options for not-for-profit corporations in Illinois. The Treasurer can receive funds from eligible not-for-profit corporations for holding and investing. The Treasurer must adopt rules for the efficient administration of the pool, including minimum deposit amounts and retention periods.

Illinois SB2968 allows the State Treasurer to establish a non-profit investment pool and electronic payment processing program for not-for-profit.

Illinois SB2968 amends the State Treasurer Act to authorize the State Treasurer to establish and administer a non-profit investment pool and an electronic payment processing program. This program aims to supplement and enhance investment opportunities and secure electronic payment options for not-for-profit corporations in Illinois. The Treasurer can receive funds from eligible not-for-profit corporations for holding and investing. The Treasurer must adopt rules for the efficient administration of the pool, including minimum deposit amounts and retention periods.