(The Center Square) – Illinois State Treasurer Michael Frerichs says he will keep pushing nonprofit investment legislation that was vetoed by Gov. J.B. Pritzker.
State Sen. Adriane Johnson, D-Buffalo Grove, sponsored Senate Bill 246, which would allow the treasurer’s office to set up an investment pool and electronic payment program for nonprofit organizations.
State Rep. Rita Mayfield, D-Waukegan, sponsored the House version of the legislation. Both chambers of the General Assembly approved the measure last May.
Pritzker vetoed the bill during the summer, saying it could allow extremist groups to exploit state services and resources.
“Though SB 246 is well-intended and might benefit nonprofits whose missions advance interests the state desires to promote, it would unfortunately also allow Illinois’ financial investments to be used to benefit fringe and extremist groups,” Pritzker wrote in his veto message.
In Chicago Tuesday, at the state treasurer’s award ceremony to celebrate LGBTQ+ History Month, Frerichs told The Center Square that his office would not give up.
“We’re working with legislative leaders and with the governor to see what’s the best way to move this forward, either with an override or working together next spring to address some of the governor’s concerns and pass something,” Frerichs said.
Frerichs was asked if it might be a challenge to maintain support from lawmakers who want to stay on good terms with the governor.
“We are continuing to have conversations with the governor’s office, and we don’t tend to stop until we get something passed,” Frerichs reiterated.
Pritzker and his campaign committee spent hundreds of millions of dollars on political campaigns in recent years, including millions on Illinois House and Senate Democrats.
It is rare for state lawmakers to override Pritzker’s vetoes.
In 2020, the General Assembly voted to override Pritzker’s veto of House Bill 3902, which provided a tax exemption on aircraft materials, parts and equipment.
In 2021, state lawmakers overrode the governor’s veto of House Bill 684, which amended the Illinois Public Aid Code to exempt non-emergency ground ambulance services from Illinois’ managed care medical assistance program.
Frerichs said his office can help nonprofit organizations during challenging times.
“We can’t solve all of the problems for various nonprofits and charities throughout the state of Illinois, but that doesn’t mean we can’t be part of the solution. We think that when we get this legislation passed, we help them earn more money, they will invest that money in our communities, helping the hungry, the homeless, give people access to skills they need to get a good job for themselves,” Frerichs explained.
