(The Center Square) – The Illinois House Executive Committee has passed an amended version of nonprofit investment legislation that Gov. J.B. Pritzker vetoed last summer.
House Bill 5045 allows the state treasurer to set up an investment pool and electronic payment system for nonprofit organizations.
The governor’s veto message specifically mentioned the Indiana Oath Keepers and said the bill could allow extremist groups to advance hateful missions.
Treasurer Michael Frerichs told The Center Square last October that his office would not give up on the proposal after the governor vetoed it.
Along with state Rep. Rita Mayfield, D-Waukegan, Frerichs presented the amended version Wednesday.
“I think we had the votes to override a veto, but we decided to work with the governor to pass legislation. It was a long process, but we’ve got something with this amendment that I think should pass muster,” Frerichs said.
When state Rep. Ryan Spain, R-Peoria, asked for specifics, Frerichs said the amended measure restricts the organizations eligible to participate.
“It is not our intent to work with any organizations that advocate violence, that aren’t in compliance with state rules. Someone’s definition of extreme might be different, but I would say that extremist groups on both sides that can’t qualify for state grants would not be able to participate in this,” Frerichs said.
State Rep. C.D. Davidsmeyer, R-Murrayville, wondered if the former Boy Scouts, now Scouting America, could participate.
“I certainly understand not wanting to invest money for those extremist groups, I just want to make sure we’re not just picking specific winners and losers,” Davidsmeyer said.
Two bankers associations and the Illinois Network of Centers for Independent Living filed witness slips opposing the bill.
The bill passed out of committee with a unanimous vote.
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