New Illinois Law Expands Treasurer’s Investment Options to Include AFL-CIO

Illinois is expanding how state funds can be invested. Governor J.B. Pritzker has signed Senate Bill 3086, allowing the state treasurer to invest in pooled investment trusts, including options like the AFL-CIO Housing Investment Trust Fund. Supporters say the move could help channel capital toward developers and housing projects, tying into the governor’s Building Up Illinois Developments plan. The law sets limits on which trusts qualify: voting trustees must be officers or employees of a national labor federation or member union, and the issuer must hold more than one billion dollars in assets. The change is aimed at boosting investment while keeping oversight standards in place.