IL HB2058

Amends the Public Funds Investment Act to authorize public agencies to invest in pooled life settlement policies where underlying insurance policies have no greater than 60-day liquidity and are issued by A-grade investment quality insurance companies.

Limits pooled life settlement investments to 5% or less of total assets in the fund plan or account, with a maximum modified duration of 10 years.

Requires the entity creating the life settlement pool to be Illinois-registered and the life settlement provider to be licensed in Illinois.

Permits life settlement policy premiums to be transferable or contractually assigned to facilitate investment flexibility.