IL HB5314

Authorizes the Illinois State Treasurer to establish and administer a non-profit investment pool and electronic payment processing program for not-for-profit corporations in the state

Eligible participants must be 501(c)(3), 501(c)(4), 501(c)(5), or 501(c)(6) tax-exempt organizations located in Illinois that comply with the Illinois Human Rights Act and provide audited financial statements

Pool funds must be invested using the same methods and limitations as State Treasury funds, with an investment policy published annually as part of the Auditor General's audit

Administrative expenses are paid from pool earnings, with excess interest credited monthly to participating nonprofits based on their investment amounts and duration

Requires the State Treasurer to provide a $150,000 surety bond for the benefit of participating not-for-profit corporations