West Cook News

Mike Porfirio introduced SB0090 in the Illinois Senate on Jan. 17, 2025, during the general assembly session 104, according to the Illinois General Assembly.

According to the Illinois General Assembly site, the legislature summarized the bill's official text as follows: "Amends the State Treasurer Act. Makes formatting changes. Amends the Accountability for the Investment of Public Funds Act. Provides that each State agency shall make available on the Internet, and update at least monthly, no later than the end of each month (rather than by the 15th of the month), sufficient information concerning the investment of any public funds held by that State agency to identify specified information. Effective immediately."

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill amends the State Treasurer Act and the Accountability for the Investment of Public Funds Act. It specifies that the State Treasurer will not disburse funds from the treasury without a warrant from the State Comptroller, except in cases involving community-based mental health services, state pension system beneficiaries, individuals receiving aid under the Illinois Public Aid Code, public agencies defined by the Public Funds Investment Act, and transactions via direct deposit or electronic funds transfer, contingent upon the Treasurer's approval. It also requires each state agency to provide monthly online updates regarding the public funds they hold, detailing the amount of funds, investment income and yield, asset allocation, and approved financial entities. The act takes effect upon becoming law.

Mike Porfirio has proposed one other bill since the beginning of the 104th session.

Porfirio graduated from U.S. Naval Academy.

Mike Porfirio is currently serving in the Illinois State Senate, representing the state's 11th Senate District. He replaced previous state senator Celina Villanueva in 2023.

Bills in Illinois follow a multi-step legislative process, beginning with introduction in either the House or Senate, followed by committee review, floor debates, and votes in both chambers before reaching the governor for approval or veto. The General Assembly operates on a biennial schedule, and while typically thousands of bills are introduced each session, only a fraction successfully pass through the process to become law.

You can read more about bills and other measures here.

Bill Number	Date Introduced	Short Description
SB0090	01/17/2025	Amends the State Treasurer Act. Makes formatting changes. Amends the Accountability for the Investment of Public Funds Act. Provides that each State agency shall make available on the Internet, and update at least monthly, no later than the end of each month (rather than by the 15th of the month), sufficient information concerning the investment of any public funds held by that State agency to identify specified information. Effective immediately.
SB0089	01/17/2025	Amends the Illinois Income Tax Act. Provides that the deduction for compensation paid to a resident by reason of being on active duty in the Armed Forces of the United States applies to compensation paid to all members of the uniformed services. Defines "uniformed services".
SB0186	01/17/2025	Amends the Department of Professional Regulation Law of the Civil Administrative Code of Illinois. Provides for a temporary permit, which is a 3-year, non-renewable authorization to practice in this State, for active duty military members, military spouses, and veterans. Provides eligibility and application requirements for a temporary permit. Provides that temporary permits are valid for 3 years from the date of issuance and shall not be renewed. Provides that a temporary permitholder may practice within the scope of the permitholder's out-of-state license if the permitholder complies with all State laws, rules, regulations, and standards of practice applicable to the permitholder's profession. Provides that a temporary permit shall not be issued for a profession requiring emergency or public safety certifications unless the issuance of the temporary permit is authorized by the licensing board of the profession. Sets forth provisions concerning definitions; permanent licensure; and rulemaking. Effective January 1, 2026.