Illinois treasurer promises to pass nonprofit legislation vetoed by
Pritzker
[October 23, 2025]
By Jim Talamonti | The Center Square
(The Center Square) – Illinois State Treasurer Michael Frerichs says he
will keep pushing nonprofit investment legislation that was vetoed by
Gov. J.B. Pritzker.
State Sen. Adriane Johnson, D-Buffalo Grove, sponsored Senate Bill 246,
which would allow the treasurer’s office to set up an investment pool
and electronic payment program for nonprofit organizations.
State Rep. Rita Mayfield, D-Waukegan, sponsored the House version of the
legislation. Both chambers of the General Assembly approved the measure
last May.
Pritzker vetoed the bill during the summer, saying it could allow
extremist groups to exploit state services and resources.
“Though SB 246 is well-intended and might benefit nonprofits whose
missions advance interests the state desires to promote, it would
unfortunately also allow Illinois' financial investments to be used to
benefit fringe and extremist groups,” Pritzker wrote in his veto
message.
In Chicago Tuesday, at the state treasurer’s award ceremony to celebrate
LGBTQ+ History Month, Frerichs told The Center Square that his office
would not give up.
“We’re working with legislative leaders and with the governor to see
what’s the best way to move this forward, either with an override or
working together next spring to address some of the governor’s concerns
and pass something,” Frerichs said.
Frerichs was asked if it might be a challenge to maintain support from
lawmakers who want to stay on good terms with the governor.
“We are continuing to have conversations with the governor’s office, and
we don’t tend to stop until we get something passed,” Frerichs
reiterated.
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Illinois Treasurer Michael Frerichs stands with LGBT advocates
during an event in Chicago, Oct. 21, 2025. Credit: Jim Talamonti /
The Center Square.
Pritzker and his campaign committee spent hundreds of millions of
dollars on political campaigns in recent years, including millions
on Illinois House and Senate Democrats.
It is rare for state lawmakers to override Pritzker’s vetoes.
In 2020, the General Assembly voted to override Pritzker’s veto of
House Bill 3902, which provided a tax exemption on aircraft
materials, parts and equipment.
In 2021, state lawmakers overrode the governor’s veto of House Bill
684, which amended the Illinois Public Aid Code to exempt
non-emergency ground ambulance services from Illinois’ managed care
medical assistance program.
Frerichs said his office can help nonprofit organizations during
challenging times.
“We can’t solve all of the problems for various nonprofits and
charities throughout the state of Illinois, but that doesn’t mean we
can’t be part of the solution. We think that when we get this
legislation passed, we help them earn more money, they will invest
that money in our communities, helping the hungry, the homeless,
give people access to skills they need to get a good job for
themselves,” Frerichs explained.
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