ILLINOIS BABY BOND TRUST

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5759

Introduced 5/5/2026, by Rep. Kimberly Du Buclet

SYNOPSIS AS INTRODUCED:

15 ILCS 505/16.11 new

Amends the State Treasurer Act. Establishes the Illinois Baby Bond
Trust. Provides that the State Treasurer shall be responsible for the
receipt, maintenance, administration, investing, and disbursements of
moneys from the trust. Sets forth additional provisions concerning the
deposit and distribution of moneys in the trust. Provides that, upon the
birth of a designated beneficiary, the State Treasurer shall transfer
$5,000 from the General Revenue Fund to the trust to be credited toward the
accounting of the designated beneficiary. Provides that, upon a designated
beneficiary's eighteenth birthday, if the beneficiary is a resident of the
State, the beneficiary shall become eligible to receive the total sum of
the accounting to be used for a qualified expense. Defines "qualified
expense" as an expenditure associated with: (i) education of a designated
beneficiary; (ii) ownership of a home by a designated beneficiary; (iii)
ownership of a business by a designated beneficiary; or (iv) any
investment in financial assets or personal capital that provides long-term
gains to wages or wealth. Effective January 1, 2029.
LRB104 21565 SPS 36978 b

A BILL FOR

HB5759
LRB104 21565 SPS 36978 b
1

AN ACT concerning State government.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The State Treasurer Act is amended by adding
5
Section 16.11 as follows:

6

(15 ILCS 505/16.11 new)
7

Sec. 16.11.
Illinois Baby Bond Trust.
8

(a) As used in this Section:
9

"Designated beneficiary" means an individual born on or
10
after July 1, 2024 whose birth was subject to medical coverage
11
under the Illinois Medical Assistance Program administered
12
under Article V of the Illinois Public Aid Code.
13

"Qualified expense" means an expenditure associated with:
14
(i) education of a designated beneficiary; (ii) ownership of a
15
home by a designated beneficiary; (iii) ownership of a
16
business by a designated beneficiary; or (iv) any investment
17
in financial assets or personal capital that provides
18
long-term gains to wages or wealth, as prescribed by the State
19
Treasurer.
20

"Trust" means the Illinois Baby Bond Trust.
21

(b) There is established the Illinois Baby Bond Trust. The
22
trust shall receive and hold all payments and deposits or
23
contributions intended for the trust, as well as gifts,

HB5759
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LRB104 21565 SPS 36978 b
1
bequests, endowments or federal, State, or local grants, and
2
any other funds from public or private source and all earnings
3
until disbursed in accordance with this Section. The moneys
4
deposited in the trust shall not constitute property of the
5
State. Moneys deposited into the trust shall not be commingled
6
with State funds, and the State shall have no claim to or
7
against, or interest in, the funds. Any contract entered into
8
by or any obligation of the trust shall not constitute a debt
9
or obligation of the State. The State shall have no obligation
10
to any designated beneficiary or any other person on account
11
of the trust, and all moneys obligated to be paid from the
12
trust shall be limited to moneys available for the obligation
13
deposited into the trust. The moneys deposited into the trust
14
shall be disbursed only in accordance with the provisions of
15
this Section. The trust shall continue in existence as long as
16
it holds any deposits or has any obligations and until its
17
existence is terminated by law. Upon termination, any
18
unclaimed assets in the trust shall return to the State.
19

(c) The State Treasurer shall be responsible for the
20
receipt, maintenance, administration, investing, and
21
disbursements of moneys from the trust. The trust shall not
22
receive deposits in any form other than cash. The State
23
Treasurer, on behalf of the trust and for purposes of the
24
trust, may:
25

(1) receive and invest moneys in the trust in any
26

instruments, obligations, securities, or property in

HB5759
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LRB104 21565 SPS 36978 b
1

accordance with this Section;
2

(2) enter into one or more contractual agreements,
3

including contracts for legal, actuarial, accounting,
4

custodial, advisory, management, administrative,
5

advertising, marketing, and consulting services for the
6

trust and payment for the services from the gains and
7

earnings of the trust;
8

(3) procure insurance in connection with the trust's
9

property, assets, or activities or deposits into the
10

trust;
11

(4) apply for, accept, and expend gifts, grants, or
12

donations from public or private sources to enable the
13

trust to carry out its objectives;
14

(5) establish one or more funds within the trust and
15

maintain separate accounts for each designated
16

beneficiary; and
17

(6) take any other action necessary to carry out the
18

purposes of this Section.
19

(d) The State Treasurer shall invest the moneys deposited
20
into the trust in a manner reasonable and appropriate to
21
achieve the objectives of the trust. The State Treasurer shall
22
give due consideration to the rate of return, risk, term or
23
maturity, diversification of the total portfolio within the
24
trust, liquidity, the projected disbursements and
25
expenditures, and the expected payments, deposits,
26
contributions, and gifts to be received. The State Treasurer

HB5759
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LRB104 21565 SPS 36978 b
1
shall not require the trust to invest directly in obligations
2
of the State or any political subdivision of the State or in
3
any investment or other fund administered by the State
4
Treasurer. The assets of the trust shall be continuously
5
invested and reinvested in a manner consistent with the
6
objectives of the trust until disbursed for qualified expenses
7
or expended on expenses incurred by the operations of the
8
trust.
9

(e) The property of the trust and the earnings on the trust
10
shall be exempt from all taxation by the State and all
11
political subdivisions of the State.
12

(f) Notwithstanding any other law, no moneys invested in
13
the trust shall be considered to be an asset for purposes of
14
determining an individual's eligibility for need-based,
15
institutional aid grants offered to an individual at an
16
institution of higher education in this State.
17

(g) The State Treasurer shall establish in the trust an
18
accounting for each designated beneficiary. Each accounting
19
shall include the amount transferred to the trust pursuant to
20
subsection (h) and the designated beneficiary's pro rata share
21
of total net earnings from investments of sums held in the
22
trust.
23

Upon a designated beneficiary's eighteenth birthday, if
24
the beneficiary is a resident of the State, the beneficiary
25
shall become eligible to receive the total sum of the
26
accounting to be used for a qualified expense. If a designated

HB5759
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LRB104 21565 SPS 36978 b
1
beneficiary is deceased before his or her eighteenth birthday,
2
or is no longer a resident of the State on his or her
3
eighteenth birthday, the accounting shall be credited back to
4
the trust.
5

The State Treasurer shall furnish each eligible
6
beneficiary with an annual statement relating to the
7
individual's accounting, including: (i) a statement of the
8
balance attributable to the individual; (ii) a projection of
9
the balance's growth by the time the individual attains the
10
age of 18; (iii) resources and information to promote
11
financial wellness and capability; and (iv) other information
12
as the State Treasurer deems relevant.
13

(h) Upon the birth of a designated beneficiary, the State
14
Treasurer shall transfer $5,000 from the General Revenue Fund
15
to the trust to be credited toward the accounting of the
16
designated beneficiary as described in subsection (g).
17

(i) The State Treasurer may adopt rules to implement and
18
administer this Act.

19

Section 99.
Effective date.
This Act takes effect January
20
1, 2029.

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