SPRINGFIELD – The Illinois Treasurer will have more options to invest money on the state’s behalf under a new law, signed Friday, that State Senator Jacqueline Collins sponsored.

“At a time with anemic interest rates, when we are still recovering from a devastating governor’s administration that harmed finances, taxpayers deserve the assurance that we have every option available to act quickly to make smart, secure investments,” Collins said. “This removes burdensome regulations that require us to deposit money outside our own state, and increases options for those engaged in securities proceedings with the state of Illinois. It’s my belief that this empowers the Treasurer to act in the best interests of taxpayers.”

Senate Bill 1289 authorizes the Illinois Treasurer to hold securities in any bank or a depository trust company in the United States, altering current law that mandates they be held only in institutions based in New York. The legislation also adds to the classes of securities that the State Treasurer may accept as collateral for deposits that are not insured by the federal government. Further, it adds to and modifies the investments the State Treasurer may invest or reinvest in.

The new law is effective immediately.

SPRINGFIELD – State Senator Jacqueline Collins and State Rep. Mary Flowers issued the following statements today as Gov. JB Pritzker signed into law part of the legislative package aimed at reducing rising infant and maternal mortality rates:

“We brought this plan forward to fight against an environment where women’s concerns over their bodies and their children’s well-being are diminished or ignored, often in ways that can be deadly for women of color in particular,” Collins said. “When we see studies that show a college-educated black woman in a high-paying career is more likely to die as a consequence of childbirth than a white woman without a high school diploma, we have to act.”

“I want to thank the governor for signing House Bill 1 and Senator Collins for shepherding the bill through the Senate,” Flowers said. “For some reason, African American women in Illinois are dying at a rate six times greater than white women for doing something that should come naturally: giving birth. My committee on Health Care Access and Availability convened hearings in September and October of 2018 where testimony from care providers showed that they see disparities due to racism, chauvinism and misogyny, and that health care professionals often do not listen to or respect African American women when they talk about their health problems. Why are there more African American women dying from giving birth? House Bill 1’s purpose is to have a task force to investigate this racial disparity in death from childbirth.”