IL SB3157

Amends the State Treasurer Act to authorize the State Treasurer to establish and administer a non-profit investment pool and electronic payment processing program for not-for-profit corporations exempt under Internal Revenue Code sections 501(c)(3), 501(c)(4), 501(c)(5), or 501(c)(6).

Allows the State Treasurer to invest non-profit pool funds using the same methods, types of investments, and limitations as State Treasury funds, with an investment policy published annually as part of an audit by the Auditor General.

Requires the State Treasurer to publish any policy changes in newspapers of general circulation in Springfield and Chicago at least 30 calendar days before implementation and review policies within 90 days of a new Treasurer taking office.

Provides that administrative expenses of the non-profit investment pool be paid from its earnings, with excess interest credited monthly to participating not-for-profit corporations based on their investment amounts and time periods.

Requires the State Treasurer to provide a bond with sureties in the penal sum of $150,000 for the faithful discharge of duties related to the non-profit investment pool.

Updates the Accountability for the Investment of Public Funds Act to require State agencies to post online investment information by the end of each month rather than by the 15th of the month.