SB1552 Summary

• Amends Section 16.5 of the State Treasurer Act regarding the College Savings Pool by making a technical correction to the language describing the pool's establishment.

• Corrects redundant wording in the opening provision where "The" appears twice, removing the duplicate to clarify that the State Treasurer may establish and administer a College Savings Pool.

• Maintains all existing provisions governing the College Savings Pool including participant eligibility, investment options, qualified educational expenses, contribution limits, and tax exemptions.

• Preserves administrative requirements such as annual audits, investment policy disclosures, coordination with the Illinois Student Assistance Commission, and bonding requirements for the State Treasurer.