IL SB3133

Expands College Savings Pool nonqualified withdrawal options to include rollovers to Roth IRA accounts to the extent permitted by Section 529 of the Internal Revenue Code.

Modifies the Illinois Higher Education Savings Program to allow documentation from parents or legal guardians as an alternative source for verifying eligible children born or adopted after December 31, 2022.

Requires the State Treasurer to transfer $2,500,000 annually (or greater amount appropriated by General Assembly) from the General Revenue Fund to the Illinois Higher Education Savings Program Fund beginning July 15, 2023.

Authorizes the Department of Public Health to release birth and adoption records to the State Treasurer for program enrollment purposes, notwithstanding court orders preventing information release.

Establishes that unclaimed and unused seed funds revert to the omnibus account for future beneficiaries rather than reverting to the state.