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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5574 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED:
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Amends the Illinois Governmental Ethics Act. Provides that in lieu of filing a statement of economic interests, members of the General Assembly and executive branch constitutional officers may enter into a blind trust. Provides that any elected official choosing to set up a blind trust shall submit documentation to the Secretary of State attesting to the creation of a blind trust on his or her behalf, and confirming his or her intent to do so in lieu of filing a statement of economic interests. Defines "blind trust".
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| | A BILL FOR |
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| | HB5574 | | LRB100 18148 RJF 33343 b |
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| 1 | | AN ACT concerning government.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Governmental Ethics Act is amended |
| 5 | | by adding Section 4A-109 as follows:
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| 6 | | (5 ILCS 420/4A-109 new) |
| 7 | | Sec. 4A-109. Blind trust. |
| 8 | | (a) In lieu of filing a statement of economic interests as |
| 9 | | required under this Article, members of the General Assembly |
| 10 | | and executive branch constitutional officers may enter into a |
| 11 | | blind trust. |
| 12 | | (b) Any elected official choosing to set up a blind trust |
| 13 | | as provided under subsection (a) shall submit documentation to |
| 14 | | the Secretary of State attesting to the creation of a blind |
| 15 | | trust on his or her behalf, and confirming his or her intent to |
| 16 | | do so in lieu of filing a statement of economic interests under |
| 17 | | this Article. |
| 18 | | (c) For the purposes of this Section, "blind trust" means a |
| 19 | | trust in which the trustee has full discretion over the assets, |
| 20 | | and the trust beneficiary has no knowledge of the holdings of |
| 21 | | the trust, and is prohibited from communicating with the |
| 22 | | trustee on investment and other business matters.
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