Illinois House Bill 2837 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 8-0)
Status: Passed on June 21 2019 - 100% progression
Action: 2019-06-21 - Public Act . . . . . . . . . 101-0026
Text: Latest bill text (Chaptered) [HTML]

Amends the State Treasurer Act. Provides that the contributions deposited in the College Savings Pool, and any earnings thereon, shall not constitute property of the State or be commingled with State funds and the State shall have no claim to or against, or interest in, such funds; provides that the State Treasurer may collect fees in accordance with the Act. Provides that the State Treasurer shall provide a separate accounting for each designated beneficiary of a College Savings Pool account. Provides that the separate accounting shall be provided to the account owner of the account for the designated beneficiary at least annually and shall show the account balance, the investment in the account, the investment earnings, and the distributions from the account. Provides that the State Treasurer shall establish fees to be imposed on accounts to cover (currently, recover) the costs of administration, recordkeeping, and investment management. Provides that administrative fees, costs, and expenses, including investment fees and expenses, shall be paid from the assets of the College Savings Pool. Removes a provision specifying that, to the extent a nonqualified withdrawal is made from an account, the earnings portion of such distribution may be treated by the Internal Revenue Service as income subject to income tax and a 10% federal penalty tax. Specifies that the Illinois Student Assistance Commission shall provide the Treasurer with an electronic report listing those College Savings Pool account owners who also participate in the Illinois Prepaid Tuition Program (rather than the State's prepaid tuition program). Removes a provision specifying that the Illinois Student Assistance Commission shall be responsible for filing any combined tax reports regarding State qualified savings programs required by the United States Internal Revenue Service. Removes provisions concerning rules for the administration expenses of the College Savings Pool and amendments to rules and regulations. Provides that specified changes made by this amendatory Act are intended to be a restatement and clarification of existing law. Modifies defined terms and references. Makes other changes. Effective immediately.

STATE TREASURER-ABLE ACCOUNT

Rep. Kelly Burke [D]	Rep. Natalie Manley [D]	Rep. Frances Hurley [D]	Rep. Michelle Mussman [D]
Rep. John D'Amico [D]	Sen. Julie Morrison [D]	Sen. Jennifer Bertino-Tarrant [D]	Sen. Antonio Munoz [D]

2019-05-30 - House - Concurrence in House (Y: 116 N: 0 NV: 0 Abs: 1) [PASS]
2019-05-30 - House - Concurrence in House (Y: 116 N: 0 NV: 0 Abs: 1) [PASS]
2019-05-23 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]
2019-03-28 - House - Third Reading in House (Y: 111 N: 0 NV: 1 Abs: 0) [PASS]

Date	Chamber	Action
2019-06-21	House	Public Act . . . . . . . . . 101-0026
2019-06-21	House	Effective Date June 21, 2019
2019-06-21	House	Governor Approved
2019-06-20	House	Sent to the Governor
2019-05-30	House	Passed Both Houses
2019-05-30	House	House Concurs
2019-05-30	House	Senate Floor Amendment No. 2 House Concurs 116-000-000
2019-05-30	House	Senate Committee Amendment No. 1 House Concurs 116-000-000
2019-05-27	House	Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted State Government Administration Committee; 010-000-000
2019-05-27	House	Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted State Government Administration Committee; 010-000-000
2019-05-26	House	Senate Floor Amendment No. 2 Motion to Concur Rules Referred to State Government Administration Committee
2019-05-26	House	Senate Committee Amendment No. 1 Motion to Concur Rules Referred to State Government Administration Committee
2019-05-24	House	Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee
2019-05-24	House	Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
2019-05-24	House	Senate Floor Amendment No. 2 Motion Filed Concur Rep. Kelly M. Burke
2019-05-24	House	Senate Committee Amendment No. 1 Motion Filed Concur Rep. Kelly M. Burke
2019-05-23	House	Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2
2019-05-23	House	Arrived in House
2019-05-23	Senate	Third Reading - Passed; 058-000-000
2019-05-23	Senate	Placed on Calendar Order of 3rd Reading
2019-05-23	Senate	Senate Floor Amendment No. 2 Adopted; Morrison
2019-05-23	Senate	Recalled to Second Reading
2019-05-23	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 006-000-000
2019-05-17	Senate	Placed on Calendar Order of 3rd Reading May 20, 2019
2019-05-17	Senate	Second Reading
2019-05-15	Senate	Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
2019-05-14	Senate	Senate Floor Amendment No. 2 Referred to Assignments
2019-05-14	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Julie A. Morrison
2019-05-08	Senate	Placed on Calendar Order of 2nd Reading May 9, 2019
2019-05-08	Senate	Do Pass as Amended Financial Institutions; 005-000-000
2019-05-08	Senate	Senate Committee Amendment No. 1 Adopted
2019-05-07	Senate	Added as Alternate Co-Sponsor Sen. Antonio Muñoz
2019-05-07	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
2019-05-02	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2019-05-02	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Julie A. Morrison
2019-05-02	Senate	Added as Alternate Co-Sponsor Sen. Jennifer Bertino-Tarrant
2019-05-01	Senate	Postponed - Financial Institutions
2019-04-24	Senate	Assigned to Financial Institutions
2019-04-03	Senate	Referred to Assignments
2019-04-03	Senate	First Reading
2019-04-03	Senate	Chief Senate Sponsor Sen. Julie A. Morrison
2019-04-03	Senate	Placed on Calendar Order of First Reading
2019-04-03	Senate	Arrive in Senate
2019-03-28	House	Added Chief Co-Sponsor Rep. John C. D'Amico
2019-03-28	House	Added Chief Co-Sponsor Rep. Michelle Mussman
2019-03-28	House	Added Chief Co-Sponsor Rep. Frances Ann Hurley
2019-03-28	House	Third Reading - Short Debate - Passed 111-000-000
2019-03-19	House	Placed on Calendar Order of 3rd Reading - Short Debate
2019-03-19	House	Second Reading - Short Debate
2019-03-14	House	Placed on Calendar 2nd Reading - Short Debate
2019-03-13	House	Do Pass / Short Debate State Government Administration Committee; 011-000-000
2019-03-07	House	Added Chief Co-Sponsor Rep. Natalie A. Manley
2019-03-07	House	Removed Co-Sponsor Rep. Natalie A. Manley
2019-03-05	House	Assigned to State Government Administration Committee
2019-02-26	House	Added Co-Sponsor Rep. Natalie A. Manley
2019-02-14	House	Referred to Rules Committee
2019-02-14	House	First Reading
2019-02-14	House	Filed with the Clerk by Rep. Kelly M. Burke

Chapter	Article	Section	Citation Type	Statute Text
15	505	16.6	Amended Code	Citation Text
755	5	11-13	Amended Code	Citation Text
755	5	11a-17	Amended Code	Citation Text
755	5	11a-18	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2837&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB2837.htm
Text	https://www.ilga.gov/legislation/101/HB/10100HB2837eng.htm
Text	https://www.ilga.gov/legislation/101/HB/10100HB2837enr.htm
Text	https://www.ilga.gov/legislation/publicacts/101/101-0026.htm
Amendment	https://www.ilga.gov/legislation/101/HB/10100HB2837sam001.htm
Amendment	https://www.ilga.gov/legislation/101/HB/10100HB2837sam002.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/101/house/10100HB2837_03282019_017000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/101/senate/10100HB2837_05232019_027000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/101/house/10100HB2837sam002_05302019_048001C.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/101/house/10100HB2837sam001_05302019_048000C.pdf