Illinois State Treasurer Michael Frerichs is pushing back after Gov. J.B. Pritzker vetoed legislation aimed at helping nonprofits access state-managed investment tools. Senate Bill 246, approved by both legislative chambers earlier this year, would have created a nonprofit investment pool and payment system through the treasurer’s office.
Pritzker vetoed the bill this summer, citing concerns that “fringe and extremist groups” could exploit state services under the legislation. “Though SB 246 is well-intended… it would unfortunately also allow Illinois’ financial investments to be used to benefit fringe and extremist groups,” the governor wrote.
Despite the veto, Frerichs remains determined. Speaking at an LGBTQ+ History Month event in Chicago, he told The Center Square that talks are ongoing with lawmakers and the governor’s office. “We’re working with legislative leaders and with the governor… either with an override or working together next spring,” he said.
State Sen. Adriane Johnson (D-Buffalo Grove) and Rep. Rita Mayfield (D-Waukegan) sponsored the legislation, which received majority support in both chambers. But overriding a Pritzker veto remains a rare event in Illinois politics.
Pritzker has funneled hundreds of millions of dollars into campaign funds for state Democrats, making lawmakers cautious about opposing his decisions. Still, Frerichs says the bill’s benefits to nonprofits outweigh political concerns.
“We think that when we get this legislation passed, we help them earn more money… helping the hungry, the homeless, give people access to skills they need,” Frerichs said.
Recent history shows only two successful overrides of Pritzker vetoes—one in 2020 for a tax exemption on aircraft parts, and another in 2021 related to ambulance service funding.
