Stadelman law expands financial flexibility for education savings programs

SPRINGFIELD – Families will now have enhanced college savings opportunities thanks to State Senator Steve Stadelman.

“This law gives families peace of mind, knowing that their hard-earned savings will not go to waste,” said Stadelman (D-Rockford). “By enabling the rollover of unused funds into a retirement account, we are helping young adults build a secure financial foundation for the future.”

The law allows parents with 529 college savings plans to utilize unused or leftover college or trade school funds by adding them to a retirement account. This provision ensures that savings intended for educational purposes can continue to benefit the student, even if their educational expenses are less than anticipated.

“I remain committed to providing flexible, forward-looking financial situations for Illinois families,” said Stadelman. “By ensuring that educational savings can be effectively repurposed, we are helping create a more secure and prosperous future for our children.”

Senate Bill 3133 was signed into law Friday and takes effect immediately.

Governor signs Peters’ child labor law overhaul

SPRINGFIELD — For the first time in nearly 75 years, Illinois will see strengthened protections for youth in the workforce thanks to State Senator Robert Peters.

“Young people in the current workforce encounter challenges unique to their generation,” said Peters (D-Chicago). “These updates to our child labor laws are needed to safeguard their rights and well-being, ensuring our youngest residents have a healthy balance between their work responsibilities, schooling, extracurricular activities and personal lives.”

With support from the AFL-CIO and the Illinois Department of Labor, Peters spearheaded the overhaul of the Illinois Child Labor Law to provide more protections for youth in the workforce by addressing working conditions, age requirements and sectors prone to exploitation.

Read more: Governor signs Peters’ child labor law overhaul

Senate Democrats celebrate first tenant of quantum campus announcement, bringing economic boost for Chicago’s South Side

CHICAGO—Members of the Illinois Senate Democratic Caucus are proud to have been part of the announcement of the site for the Illinois Quantum and Microelectronics Park at USX on the South Side of Chicago. and its first tenant was announced to be leading quantum company PsiQuantum.

" Illinois plants a flag and reminds the world of the leadership role we play in technology,” said Senate President Don Harmon (D-Oak Park). “I can’t think of a better location to send that message. This site connects the power of our past with the promise for our future."

Quantum computing is rapidly-emerging technology that harnesses the laws of quantum mechanics to solve problems too complex for classical computers. The quantum campus, also known as the Illinois Quantum and Microelectronics Park, will include shared cryo facilities, equipment labs, and spaces for both private companies and Illinois’ research universities to collaborate and research. The Chicago site has 128 acres ready for immediate development and an additional 312 acres available for expansion. Its strategic location near Lake Michigan and the Calumet River will provide the water sources needed for cooling, and the site can accommodate the 200MW of power needed.

Read more: Senate Democrats celebrate first tenant of quantum campus announcement, bringing economic boost...

Black Caucus: Justice for Sonya Massey

CHICAGO — State Senator Robert Peters (D-Chicago), Senate Chair of the Illinois Legislative Black Caucus, issued the following statement in response to the body camera footage which led to the indictment of the ex-deputy who shot and killed Sonya Massey in her home:

“This video is sickening. It is despicable and disgusting to see such brutal violence toward an innocent Black woman. How did this person ever become a law enforcement officer?

“This is why we fought for increased transparency.

“This is why we fought for body camera requirements.

“This is why we fought to end cash bail to keep dangerous people detained.

“But arresting and detaining the perpetrator isn’t the end. Justice demands answers and accountability. We need to know how and why someone capable of such a horrible act was given a badge and a gun in the first place.

“The repeated murders of unarmed Black people across the country is sickening and emotionally traumatizing. Sonya Massey is dead because she called 911 for help. Our communities deserve better. We stand with the Springfield community and the Massey family.

“May Sonya Massey’s memory be a blessing and bring comfort to those who knew her.”