SPRINGFIELD – Families will now have enhanced college savings opportunities thanks to State Senator Steve Stadelman.

“This law gives families peace of mind, knowing that their hard-earned savings will not go to waste,” said Stadelman (D-Rockford). “By enabling the rollover of unused funds into a retirement account, we are helping young adults build a secure financial foundation for the future.”

The law allows parents with 529 college savings plans to utilize unused or leftover college or trade school funds by adding them to a retirement account. This provision ensures that savings intended for educational purposes can continue to benefit the student, even if their educational expenses are less than anticipated.

“I remain committed to providing flexible, forward-looking financial situations for Illinois families,” said Stadelman. “By ensuring that educational savings can be effectively repurposed, we are helping create a more secure and prosperous future for our children.”

Senate Bill 3133 was signed into law Friday and takes effect immediately.

SPRINGFIELD – Utility customers who apply for state energy bill assistance will soon have greater protections safeguarding them from disconnection, thanks to a new law championed by State Senator Steve Stadelman.

“This is about making sure our most vulnerable community members do not have to face the threat of losing essential utility services while they seek much-needed financial assistance,” said Stadelman (D-Rockford). “It provides a critical safety net during times of economic uncertainty.”

To ensure vulnerable populations maintain access to essential utilities during times of financial hardship, the measure requires electric and gas companies with more than 500,000 customers to prevent the disconnection of utility services for those actively seeking energy payment assistance.

SPRINGFIELD – Consumers will now have protection against adverse medical debt reporting, thanks to a new law championed by State Senator Steve Stadelman.

“We have taken a crucial step to protect our residents from the undue hardships caused by medical debt,” said Stadelman (D-Rockford). “This is a positive step toward ensuring no one will have to suffer the long-term financial consequences of medical emergencies that are beyond their control. This law is about fairness and compassion, and it reflects our commitment to standing up for the rights of others.”

The law aims to address the growing concern over the impact of medical debt on consumers’ credit scores. Medical debt, often incurred through no fault of the consumer, has been a leading cause of financial distress, disproportionately affecting vulnerable populations and hindering their access to credit and essential services.

SPRINGFIELD – Thanks to State Senator Steve Stadelman, a new law is on the books that aims to stimulate economic development through incentives for cutting-edge technology and clean energy manufacturing, with a particular focus on job creation in the Rockford area.

“This is a major step forward for our state’s economy,” said Stadelman (D-Rockford). “By incentivizing high-tech and clean-energy industries, we are not only paving the way for innovative developments but also ensuring the creation of good-paying jobs for our residents.”

The new incentives will build on the 2021 Stadelman-sponsored Reimaging Energy and Vehicles Act, which positioned Illinois as a hub for electric vehicle and battery production. Last year, automaker Stellantis announced a $5 billion investment that includes a new EV product for the Belvidere Assembly plant, a battery production facility and a parts distribution center. Stadelman’s law will further advance zero-carbon technologies in Illinois by offering incentives for green steel manufacturing and electric and hybrid aircraft production.

SPRINGFIELD — An economic growth package containing incentives for cutting-edge technology and clean energy manufacturing connected with the creation of new jobs in cities like Rockford cleared the Senate Sunday, thanks to State Senator Steve Stadelman.

“Thanks to the REV incentive program, Stellantis is investing nearly $5 billion in the 34^th District, leading to thousands of new jobs in the Belvidere community,” said Stadelman (D-Rockford). “This package will expand on these incentive programs and update our business development tools to make sure Illinois remains competitive for jobs and new capital investment.”

SPRINGFIELD – State Senator Steve Stadelman’s legislation aimed at strengthening local journalism and supporting aspiring reporters is headed to the governor’s desk.

“Local journalism is vital for our communities, providing necessary information and holding those in power accountable,” said Stadelman (D-Rockford). “This bill ensures that local news organizations remain transparent during critical transitions and supports the next generation of journalists.”

The measure would establish the Journalism Student Scholarship Program to help support students who are pursuing careers in Illinois journalism through financial assistance. The legislation would also require local news organizations to notify the Department of Commerce and Economic Opportunity and employees 120 days before a sale occurs. The goal is to give other businesses, newspapers and nonprofits the chance to step in and keep the publication local, rather than furthering the decline in local journalism by selling to a private equity firm.

“Requiring advance notice for sales protects employees and ensures communities are aware of changes that might affect their local news sources,” said Stadelman.

The Senate concurred to Senate Bill 3592 Friday. It now heads to the governor for further consideration.

SPRINGFIELD – State Senator Steve Stadelman is leading a measure to bolster local journalism by ensuring fair compensation from big tech platforms.

“Local journalism is a cornerstone of our democracy, providing essential information that keeps our communities informed and engaged,” said Stadelman (D-Rockford). “This legislation ensures that news publishers are fairly compensated for their work, which is increasingly being utilized by large tech platforms for profit.”

SPRINGFIELD – State Senator Steve Stadelman recently held a subject matter hearing in the Senate Revenue Committee on a measure designed to uplift local journalism.

“Local journalism is the backbone of our communities, providing essential news and information that keeps residents informed and engaged,” said Stadelman (D-Rockford). “We must do what we can to preserve local journalism and, in turn, preserve democracy.”

Senate Bill 3953 would create the Local Journalism Sustainability Act, which aims to provide critical financial support to local news organizations and small businesses through targeted tax credits.

The bill contains two tax credits: one is withholding credits to help companies and their local newsrooms maintain and expands staff. Over the past 15-20 years, Illinois has lost a third of its local newspapers and newsrooms in the state, and has reduced jobs by 85%. The other tax credit is for local small businesses which advertise with local newsrooms.