Sen. Karina Villa backs SB3086, advancing state investment in designated private placement securities

Sen. Karina Villa (D-25th) cast a Yes vote on SB3086 during the 104th General Assembly on May 31, 2026, enabling state investments in specific private placement securities. The Illinois Senate passed the measure 51-6.

The bill's official text describes it as: "STATE PERMITTED INVESTMENTS."

The following provides an analyzed summary and interpretation of the bill's contents for clarity.

Summarized, the bill updates the Deposit of State Moneys Act to allow the state treasurer to invest funds in private placement fixed income securities exempt from SEC registration. To qualify, the issuing entities must maintain a major presence in Illinois and exceed $1 billion in assets. State investments are capped at 5% of the issuer’s total assets and cannot exceed 1% of the agency’s funds. Firms on the Illinois Investment Policy Board’s prohibited list are excluded. The act will become effective immediately if signed into law.

The legislative record for SB3086 states: 'House Floor Amendment No. 1 Senate Concurs.'

Villa, a Democrat, began representing Illinois' 25th Senate District after her 2021 election, succeeding former Sen. Jim Oberweis.

Illinois legislators follow a multi-step process that includes bill introduction in either chamber, committee hearings, debates, and floor votes, before proceeding to the governor for signature or veto. Each biennial session sees thousands of bills introduced, with only a portion ultimately enacted.