Sen. Seth Lewis backs SB3086 to expand treasurer’s investment options in private fixed income securities

Sen. Seth Lewis (R-24th) cast a Yes vote on SB3086, authorizing the treasurer to invest state funds in designated private placement fixed income securities, during the 104th General Assembly on May 31, 2026. The Illinois Senate approved the bill 51-6.

According to the official summary, SB3086 addresses "STATE PERMITTED INVESTMENTS."

The summary below is based on the bill’s actual language and may interpret provisions for clarity.

SB3086 amends the Deposit of State Moneys Act, permitting the state treasurer to invest in private placement fixed income securities exempt from Securities and Exchange Commission registration. Eligible securities must be issued by companies with a major Illinois presence and more than $1 billion in assets. Purchases are capped at 5% of an issuer's total assets and 1% of the public agency’s funds. Issuers listed on the Illinois Investment Policy Board’s restricted list are excluded. The measure is effective immediately.

The recorded legislative action for SB3086 reads: 'House Floor Amendment No. 1 Senate Concurs.'

Lewis earned his BS from the University of Iowa in 1991.

Lewis, a Republican, began representing the 24th Senate District in the Illinois State Senate in 2023, succeeding Suzy Glowiak.

Legislation in Illinois progresses through a multi-step legislative process—starting with introduction in one chamber, then moving to committee review, floor debate, and votes in both the House and Senate—before going to the governor for action. The General Assembly runs on a biennial timeline; although thousands of bills are submitted each session, only a fraction become law.