SB2864 Summary

• Authorizes State Treasurer to establish and administer an E-Pay program for secure electronic payment options, separate from the Public Treasurers' Investment Pool.

• Allows participation in the E-Pay program without requiring participation in the Public Treasurers' Investment Pool.

• Permits State Treasurer to satisfy monthly reporting requirements by posting reports on the Treasurer's official website instead of only physical copies.

• Adds new investment authority for obligations of corporations or limited liability companies with significant presence in Illinois, with assets exceeding $500,000,000 and highest-rated classifications, expiring June 30, 2019.

• Replaces references to "forbidden entity" designation with "restricted companies" list maintained by Illinois Investment Policy Board under Section 1-110.16 of Illinois Pension Code.