IL SB2968

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 and in compliance with the Illinois Human Rights Act

Participating nonprofits must submit their most recent audited financial statement or charitable organization annual report filed with the Attorney General

Pool funds will 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

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