IL SB0653

Amends the State Treasurer Act to establish a 25% aspirational goal for using businesses owned by veterans, minorities, women, and persons with disabilities for funds under management, purchases, and contracts.

Expands the definition of "financial institutions" eligible to receive state deposits to include minority depository institutions and community development financial institutions certified by the U.S. Treasury.

Modifies the Deposit of State Moneys Act to allow the State Treasurer to accept proposals from financial institutions for linked deposits supporting economic and community development, including agriculture, business, and individual loans.

Authorizes the State Treasurer to establish an "access to capital" program allowing financial institutions to provide liquidity or administer lending activities at market rates.

Removes the requirement for Governor approval before the State Treasurer invests state money and expands permitted investments to include obligations of supranational entities and foreign governments meeting specified credit standards.