IL SB0117

State Treasurer shall segregate up to 5% of the state investment portfolio into an Infrastructure Development Account to provide development capital for Illinois infrastructure projects through Illinois-based firms.

Illinois infrastructure development firms must have more than 50% of employees in Illinois, at least one general partner domiciled in Illinois, or a track record of investing in Illinois infrastructure projects involving real assets like buildings, transportation, utilities, renewable energy, and schools.

Funds placed with Illinois infrastructure development firms must be invested at minimum twice the amount received from the state in Illinois infrastructure development projects during the fund's life, with additional investments allowed if they meet fiduciary standards and return expectations.

Infrastructure Development Account-Recipient Funds must report quarterly or annually to the State Treasurer on all investments, including company names, geographic locations, investment dates, costs, and fair market values.

If a recipient fund fails to meet minimum investment requirements by the fourth year or when 60% of capital is drawn, the State Treasurer may terminate further capital contributions after providing 180 days notice to comply.