# Illinois SB0169: STUDENT INVESTMENT ACCOUNT Illinois SB0169, STUDENT INVESTMENT ACCOUNT, is a 104th General Assembly (2025–2026) Senate bill sponsored by Omar Aquino (Democratic); status in committee, last action 2025-05-09 (Rule 3-9(a) / Re-referred to Assignments); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/IL-SB0169-2025-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Illinois SB0169 - State: Illinois - Session: 104th General Assembly (2025–2026) - Title: STUDENT INVESTMENT ACCOUNT - Status: in committee - Chamber: Senate - Introduced: 2025-01-17 - Last action: 2025-05-09, Rule 3-9(a) / Re-referred to Assignments - Sponsor: Omar Aquino (Democratic) - Cosponsors: 1 - Subjects: assignments, financial institutions - Touches household money: yes - Roll calls: 1 (6 yes, 0 no in all) - Economic provisions PRIA read: 0 ## 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 No economic impacts identified for this bill. ## Sponsors and cosponsors - Sponsor: Omar Aquino (Democratic), Senate - Cosponsor: Willie Preston (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-02-19 | Senate | Do Pass as Amended Financial Institutions; | pass | 6 | 0 | | ## Actions (15) - 2025-05-09: Rule 3-9(a) / Re-referred to Assignments (Senate) - 2025-04-11: Rule 2-10 Third Reading Deadline Established As May 9, 2025 (Senate) - 2025-02-27: Placed on Calendar Order of 3rd Reading March 4, 2025 (Senate) - 2025-02-27: Second Reading (Senate) - 2025-02-19: Placed on Calendar Order of 2nd Reading February 20, 2025 (Senate) - 2025-02-19: Do Pass as Amended Financial Institutions; 006-000-000 (Senate) - 2025-02-19: Senate Committee Amendment No. 1 Adopted (Senate) - 2025-02-19: Added as Chief Co-Sponsor Sen. Willie Preston (Senate) - 2025-02-18: Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions (Senate) - 2025-02-14: Senate Committee Amendment No. 1 Referred to Assignments (Senate) - 2025-02-14: Senate Committee Amendment No. 1 Filed with Secretary by Sen. Omar Aquino (Senate) - 2025-01-28: Assigned to Financial Institutions (Senate) - 2025-01-17: Referred to Assignments (Senate) - 2025-01-17: First Reading (Senate) - 2025-01-17: Filed with Secretary by Sen. Omar Aquino (Senate) ## Bill text - Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0169.pdf) - Senate Amendment 1: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0169sam001.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 - [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0169.pdf) - [Senate Amendment 1 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0169sam001.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-SB0169-2025-2026 (as of 2026-11-01).