Sen. Laura Ellman supports SB0343 to revise Principal and Income Act

Sen. Laura Ellman (D-21st) supported SB0343, a measure to amend the Principal and Income Act, with a Yes vote during the 104th General Assembly on May 31, 2026, according to the Illinois Senate. The bill was approved in the Senate by a 51-6 vote.

The official summary of the bill reads: "CIVIL LAW-TECH."

The information below is drawn from the official bill language and may incorporate explanatory material to clarify its contents.

This legislation updates the Principal and Income Act by introducing a technical amendment to the section detailing its short title, specifying that the law may be referred to as the Principal and Income Act. No other new language or modifications are presented in the bill.

The action recorded for SB0343 was 'House Committee Amendment No. 1 Senate Concurs'.

Ellman earned her BS from Grinnell College in 1987.

A member of the Democratic Party, Ellman began serving the Illinois State Senate in 2019 as the representative for the 21st Senate District, succeeding Michael Connelly.

In Illinois, bills progress through a multi-step legislative process that encompasses introduction in either chamber, consideration by committee, debate on the floor, votes in both the House and Senate, and ultimately the governor’s decision to approve or veto. The General Assembly operates on a two-year cycle, with thousands of proposals introduced each session, though only a limited number are enacted into law.