Glowiak Hilton supports SB3086 to expand state investment options in private placement securities

State Sen. Suzy Glowiak Hilton (D-23rd) supported SB3086, casting a Yes vote for a measure permitting state investment in private placement securities during the 104th General Assembly on May 31, 2026, per the Illinois Senate. The bill was approved in the Senate by a 51-6 margin.

As outlined in the bill's official text, the measure relates to "STATE PERMITTED INVESTMENTS."

The following is our analysis of the bill’s language and may include interpretation for clarity regarding its provisions.

This legislation updates the Deposit of State Moneys Act, granting the state treasurer authority to allocate state funds in private placement fixed income securities exempt from Securities and Exchange Commission registration. Eligible securities must be issued by organizations maintaining a substantial Illinois presence and holding more than $1 billion in assets, with investments capped at 5% of an issuer’s total assets and 1% of the public agency’s available funds. The state is prohibited from investing in issuers listed on the Illinois Investment Policy Board’s restricted list. The bill is effective immediately upon enactment.

The roll call for SB3086 was 'House Floor Amendment No. 1 Senate Concurs.'

Hilton completed a BA at Illinois Institute of Technology in 1983.

A Democrat, Hilton won election to the Illinois State Senate in 2023, representing the 23rd District after succeeding former Sen. Diane Pappas.

In Illinois, legislation undergoes a multi-step legislative process that begins with the bill’s introduction in either chamber, followed by committee consideration, floor debate, and voting in both the House and Senate. Afterward, a bill is sent to the governor for either approval or veto. The General Assembly meets on a biennial basis; while thousands of bills are introduced during each session, only a small percentage successfully progress through all stages to become law.