Illinois HB 5045: CRIMINAL LAW-TECH

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 Full Text of HB5045

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 HB5045 - 104th General Assembly 

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HB5045 EngrossedLRB104 20585 SPS 34075 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The State Treasurer Act is amended by adding 

5Section 17.2 as follows:

6 (15 ILCS 505/17.2 new)

7 Sec. 17.2. Non-profit investment pool.

8 (a) The State Treasurer may establish and administer a 

9non-profit investment pool and an electronic payment 

10processing program to supplement and enhance investment 

11opportunities and secure electronic payment options otherwise 

12available to not-for-profit corporations in this State.

13 (b) The Treasurer may receive funds paid into the 

14non-profit investment pool by a not-for-profit corporation 

15that is exempt from taxation under Section 501(c)(3), 

16501(c)(4), 501(c)(5), or 501(c)(6) of the Internal Revenue 

17Code for the purpose of holding and investing those funds. In 

18order to be eligible to participate in the non-profit 

19investment pool, the not-for-profit corporation shall:

20 (1) provide the Treasurer with a copy of the most 

21 recent audited financial statement or charitable 

22 organization annual report filed with the Attorney 

23 General;

HB5045 Engrossed- 2 -LRB104 20585 SPS 34075 b

1 (2) be domiciled in Illinois;

2 (3) not be on the federal system for award management 

3 (SAM) exclusion list;

4 (4) not be on the Chief Procurement Officer's 

5 suspensions, debarments, voluntary exclusions, and 

6 voluntary non-participation agreements list;

7 (5) not be on the Department of Labor's debarred 

8 contractors list;

9 (6) not be on the Illi