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HB 5314

Illinois House•In House Committee

Summary

HB 5314, “NON-PROFIT INVESTMENT POOL”, was introduced in the House on Feb 5, 2026 by Rep. Rita Mayfield (D). It was referred to Rules, and last saw action on Feb 10, 2026: Referred to Rules Committee.

Record

Text

HB 5314 has no co-sponsors and has not gone to a roll call.

hb5314/introduced.txt
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Full Text of HB5314
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	HB5314 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5314
Introduced 2/10/2026, by Rep. Rita Mayfield
SYNOPSIS AS INTRODUCED:
15 ILCS 505/17.2 new
Amends the State Treasurer Act. Provides that the State Treasurer may establish and administer a non-profit investment pool and an electronic payment processing program to supplement and enhance investment opportunities and secure electronic payment options otherwise available to not-for-profit corporations in the State. Provides that the Treasurer may receive funds paid into the pool for the purpose of holding and investing those funds. Provides for surety bonds payable to not-for-profit corporations who participate in the pool. Provides that the Treasurer shall adopt rules for the efficient administration of the pool.
LRB104 19465 SPS 32913 b
A BILL FOR
		HB5314		LRB104 19465 SPS 32913 b
    AN ACT concerning State government.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The State Treasurer Act is amended by adding
Section 17.2 as follows:
    (15 ILCS 505/17.2 new)
    Sec. 17.2. Non-profit investment pool.
    (a) The State Treasurer may establish and administer a 
non-profit investment pool and an electronic payment 
processing program to supplement and enhance investment 
opportunities and secure electronic payment options otherwise 
available to not-for-profit corporations in this State.
    (b) The Treasurer may receive funds paid into the 
non-profit investment pool by a not-for-profit corporation 
that is exempt from taxation under Section 501(c)(3), 
501(c)(4), 501(c)(5), or 501(c)(6) of the Internal Revenue 
Code for the purpose of holding and investing those funds. In 
order to be eligible to participate in the non-profit 
investment pool, the not-for-profit corporation shall: (1) 
provide the Treasurer with a copy of the most recent audited 
financial statement or charitable organization annual report 
filed with the Attorney General; (2) be located in Illinois; 
and (3) be in compliance with the Illinois Human Rights Act.
		HB5314	- 2 -	LRB104 19465 SPS 32913 b
    (c) The Treasurer may invest the funds constituting the 
non-profit investment pool in the same manner, in the same 
types of investments, and subject to the same limitations 
provided for the investment of funds in the State Treasury. 
The Treasurer shall develop, publish, and implement an 
investment policy covering the management of funds in the 
non-profit investment pool. The policy shall be published each 
year as part of the audit of the non-profit investment pool by 
the Auditor General, which shall be distributed to all 
participants. The Treasurer shall notify all non-profit 
investment pool participants in writing, and the Treasurer 
shall publish in at least one newspaper of general circulation 
in both Springfield and Chicago any changes to a previously 
published investment policy at least 30 calendar days before 
implementing the policy. Any investment policy adopted by the 
Treasurer shall be reviewed, and updated if necessary, within 
90 days after the installation of a new Treasurer.
    (d) The Treasurer shall adopt rules for the efficient 
administration of the non-profit investment pool, including 
the minimum amounts that may be deposited in the non-profit 
investment pool and the minimum period of time that deposits 
shall be retained in the non-profit investment pool. The rules 
shall provide for the administrative expenses of the 
non-profit investment pool to be paid from its earnings and 
for the interest earnings in excess of such expenses to be 
credited or paid monthly to the not-for-profit corporations 
		HB5314	- 3 -	LRB104 19465 SPS 32913 b
participating in the non-profit investment pool in a manner 
which equitably reflects the differing amounts of their 
respective investments in the non-profit investment pool and 
the differing periods of time for which the amounts were in the 
custody of the non-profit investment pool.
    (e) Upon creating a non-profit investment pool, the State 
Treasurer shall give bond with 2 or more sufficient sureties, 
payable to not-for-profit corporations that participate in the 
non-profit investment pool for the benefit of the 
not-for-profit corporations that have funds that are paid into 
the non-profit investment pool for investment, in the penal 
sum of $150,000, conditioned for the faithful discharge of the 
State Treasurer's duties in relation to the non-profit 
investment pool.

Amends the State Treasurer Act. Provides that the State Treasurer may establish and administer a non-profit investment pool and an electronic payment processing program to supplement and enhance investment opportunities and secure electronic payment options otherwise available to not-for-profit corporations in the State. Provides that the Treasurer may receive funds paid into the pool for the purpose of holding and investing those funds. Provides for surety bonds payable to not-for-profit corporations who participate in the pool. Provides that the Treasurer shall adopt rules for the efficient administration of the pool.

Sponsors

Rep. Rita Mayfield (D) sponsors HB 5314 alone.

Rita Mayfield

Rep. · D–60 · Sponsor

Committees

HB 5314 went before 1 committee: Rules.

Rules
Rules
Referred to · Feb 10, 2026 · 5,290 Bills

History

HB 5314 has taken 3 actions since Feb 5, 2026, the latest on Feb 10, 2026.

ChamberAction
Feb 10, 2026
House
First Reading
Feb 10, 2026
House
Referred to Rules Committee
Feb 5, 2026
House
Filed with the Clerk by Rep. Rita Mayfield

Votes

HB 5314 has not gone to a roll call.

Source: ilga.gov · legiscan.com