# Illinois HB1430: STUDENT INVESTMENT ACCOUNT

Illinois HB1430, STUDENT INVESTMENT ACCOUNT, is a 104th General Assembly (2025–2026) House bill sponsored by no sponsor on record; status signed, last action 2025-08-15 (Public Act . . . . . . . . . 104-0180); PRIA reads it as touching household money (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-HB1430-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois HB1430
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: STUDENT INVESTMENT ACCOUNT
- Status: signed
- Chamber: House
- Introduced: 2025-01-16
- Last action: 2025-08-15, Public Act . . . . . . . . . 104-0180
- Sponsors: no sponsor on record
- Cosponsors: 13
- Subjects: higher education, assignments, financial institutions
- Touches household money: yes
- Roll calls: 4 (130 yes, 52 no in all)
- Economic provisions PRIA read: 3

## Summary

Amends the Student Investment Account Act. Allows the State Treasurer to originate, guarantee, acquire, and service refinance loans; invest in, and enter into contracts with, institutions that provide refinance loans; deposit funds with financial institutions that provide refinance loans; establish specific criteria governing the eligibility of entities to participate in the making of refinance loans; charge and collect premiums for insurance on refinance loans; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of a refinance loan debt. Removes language allowing the State Treasurer to: enter into income share agreements with participants, facilitate income share agreements between participants and eligible income share agreement providers, and perform other acts as may be necessary or desirable in connection with income share agreements; enter into contracts and guarantee agreements as necessary to operate the Student Investment Account with income share agreement providers or qualified income share agreement organizations; establish specific criteria governing the eligibility of entities to participate in the making of income share agreements; pay income share agreement providers or qualified income share agreement organizations an administrative fee in connection with services provided pursuant to the Student Investment Account; charge and collect premiums for insurance on income share agreements; and deduct from a State employee's salary, wages, commissions, and bonuses the recovery of an income share agreement. Allows (rather than requires) the State Treasurer to establish fees to cover the costs of administration, recordkeeping, marketing, and investment management related to the Student Investment Account. Removes language allowing moneys in the Student Investment Account Assistance Fund to be used to provide assistance to income share agreement participants. Makes conforming changes.

## Bill overview: provisions PRIA read

- More education loan options for Illinois residents: benefit, low. The Illinois State Treasurer can make, back, buy, service, and arrange refinance loans through the Student Investment Account. These loans refinance existing loans used for education after high school and are for Illinois residents. Illinois resident parents also qualify as borrowers after receivin…
- Illinois ends income share financing options: cost, low. The Student Investment Account no longer offers income share agreements as an education financing option. The Treasurer cannot enter or arrange these agreements through the program. Related fee, insurance, and wage-collection rules for these agreements are removed. The Assistance Fund remains avail…
- Student loan program fees become optional: mixed, low. The Illinois State Treasurer no longer has to set Student Investment Account fees. The Treasurer can still set fees for administration, recordkeeping, marketing, and investment management. Participants’ costs depend on whether fees are charged and their amounts; the law sets no fee amounts.

## Sponsors and cosponsors

- Cosponsor: Angelica Guerrero-Cuellar (Democratic), House
- Cosponsor: Barbara Hernandez (Democratic), House
- Cosponsor: Carol Ammons (Democratic), House
- Cosponsor: Eva-Dina Delgado (Democratic), House
- Cosponsor: Graciela Guzmán (Democratic), Senate
- Cosponsor: Hoan Huynh (Democratic), House
- Cosponsor: Jaime M. Andrade, Jr. (Democratic), House
- Cosponsor: Kelly M. Cassidy (Democratic), House
- Cosponsor: Kevin John Olickal (Democratic), House
- Cosponsor: Mark L. Walker (Democratic), Senate
- Cosponsor: Omar Aquino (Democratic), Senate
- Cosponsor: Robert F. Martwick (Democratic), Senate
- Cosponsor: Robert Peters (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-05-22 | Senate | Third Reading - Passed; | pass | 46 | 12 |   |
| 2025-05-07 | Senate | Do Pass Financial Institutions; | pass | 7 | 1 |   |
| 2025-04-07 | House | Third Reading - Short Debate - Passed | pass | 67 | 38 | 1 |
| 2025-02-26 | House | Do Pass as Amended / Short Debate Higher Education Committee; | pass | 10 | 1 |   |

## Actions (41)

- 2025-08-15: Public Act . . . . . . . . . 104-0180 (House)
- 2025-08-15: Effective Date August 15, 2025 (House)
- 2025-08-15: Governor Approved (House)
- 2025-06-20: Sent to the Governor (House)
- 2025-05-22: Passed Both Houses (House)
- 2025-05-22: Third Reading - Passed; 046-012-000 (Senate)
- 2025-05-14: Added as Alternate Co-Sponsor Sen. Graciela Guzmán (Senate)
- 2025-05-08: Placed on Calendar Order of 3rd Reading May 13, 2025 (Senate)
- 2025-05-08: Second Reading (Senate)
- 2025-05-07: Placed on Calendar Order of 2nd Reading May 8, 2025 (Senate)
- 2025-05-07: Do Pass Financial Institutions; 007-001-000 (Senate)
- 2025-05-06: Added as Alternate Chief Co-Sponsor Sen. Robert Peters (Senate)
- 2025-05-06: Added as Alternate Chief Co-Sponsor Sen. Robert F. Martwick (Senate)
- 2025-04-30: Postponed - Financial Institutions (Senate)
- 2025-04-25: Added as Alternate Chief Co-Sponsor Sen. Mark L. Walker (Senate)
- 2025-04-23: Assigned to Financial Institutions (Senate)
- 2025-04-08: Referred to Assignments (Senate)
- 2025-04-08: First Reading (Senate)
- 2025-04-08: Chief Senate Sponsor Sen. Omar Aquino (Senate)
- 2025-04-08: Placed on Calendar Order of First Reading (Senate)
- 2025-04-08: Arrive in Senate (Senate)
- 2025-04-07: Added Co-Sponsor Rep. Hoan Huynh (House)
- 2025-04-07: Added Co-Sponsor Rep. Jaime M. Andrade, Jr. (House)
- 2025-04-07: Third Reading - Short Debate - Passed 067-038-001 (House)
- 2025-04-04: Added Co-Sponsor Rep. Kelly M. Cassidy (House)
- 2025-04-04: Added Co-Sponsor Rep. Kevin John Olickal (House)
- 2025-04-01: Added Co-Sponsor Rep. Angelica Guerrero-Cuellar (House)
- 2025-03-18: Placed on Calendar Order of 3rd Reading - Short Debate (House)
- 2025-03-18: Second Reading - Short Debate (House)
- 2025-03-12: Added Chief Co-Sponsor Rep. Carol Ammons (House)
- 2025-02-27: Placed on Calendar 2nd Reading - Short Debate (House)
- 2025-02-26: Do Pass as Amended / Short Debate Higher Education Committee; 010-001-000 (House)
- 2025-02-26: House Committee Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote (House)
- 2025-02-26: Added Co-Sponsor Rep. Barbara Hernandez (House)
- 2025-02-25: House Committee Amendment No. 1 Rules Refers to Higher Education Committee (House)
- 2025-02-18: House Committee Amendment No. 1 Referred to Rules Committee (House)
- 2025-02-18: House Committee Amendment No. 1 Filed with Clerk by Rep. Eva-Dina Delgado (House)
- 2025-02-18: Assigned to Higher Education Committee (House)
- 2025-01-28: Referred to Rules Committee (House)
- 2025-01-28: First Reading (House)
- 2025-01-16: Filed with the Clerk by Rep. Eva-Dina Delgado (House)

## Bill text

- Engrossed: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430eng.pdf)
- Enrolled: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430enr.pdf)
- House Amendment 1: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430ham001.pdf)
- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Engrossed (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430eng.pdf)
- [Enrolled (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430enr.pdf)
- [House Amendment 1 (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430ham001.pdf)
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB1430.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-HB1430-2025-2026 (as of 2026-11-01).