Bill Status of SB1393 102nd General Assembly
Short Description: HIGHER ED SAVINGS PROGRAM
Sen. Pat McGuire - Jacqueline Y. Collins, Omar Aquino and Scott M. Bennett
| 1/13/2021||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the State Treasurer Act. Provides that the State Treasurer shall establish the Illinois Higher Education Savings Program for the purpose of expanding access to higher education through savings. Provides for enrollment in the Program. Provides further duties and requirements of the Treasurer regarding the Program. Creates the Illinois Higher Education Savings Program Fund as a fund held outside of the State treasury to be the official repository of all contributions, appropriations, interest, and dividend payments, gifts, or other financial assets received by the State Treasurer in connection with operation of the Program or related partnerships. Provides for audits and reports concerning the Program. Allows the Treasurer to adopt any rules that may be necessary to implement the Program. Amends the Freedom of Information Act to provide an exemption for information that is exempt from disclosure under the Illinois Higher Education Savings Program.