Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of SB3528  100th General Assembly


Short Description:  PREPAID TUITION CONTRACTS-END

Senate Sponsors
Sen. Jason A. Barickman

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 505/16.5
110 ILCS 979/15
110 ILCS 979/45


Synopsis As Introduced
Amends the State Treasurer Act and the Illinois Prepaid Tuition Act. With respect to the College Savings Pool, provides that for accounts opened on or after the effective date of the amendatory Act, the State Treasurer may receive moneys paid into the pool by the Illinois Neighborhood Recovery Initiative, which shall be permitted to match, dollar for dollar, with limitations, annual contributions made to an account. Provides that Illinois prepaid tuition contracts may not be entered into on or after the effective date of the amendatory Act. Provides that only annuities may be purchased under the Illinois prepaid tuition program. Provides that the purchaser of a contract entered into before the effective date of the amendatory Act may (i) retain funds under the contract, (ii) transfer the cash value of the contract to the College Savings Pool, (iii) cash out of the contract pursuant to the contract's terms, or (iv) transfer funds into an annuity. Effective immediately.

Actions 
DateChamber Action
  2/14/2014SenateFiled with Secretary by Sen. Jason A. Barickman
  2/14/2014SenateFirst Reading
  2/14/2014SenateReferred to Assignments
  3/5/2014SenateAssigned to Higher Education
  3/28/2014SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2015SenateSession Sine Die

Back To Top