Bill Status of HB 4737   94th General Assembly

Short Description:  PENCD-ECON OPPORTUNITY INVEST

House Sponsors
Rep. John E. Bradley-Lisa M. Dugan-Daniel V. Beiser-Mike Boland-Michael K. Smith, Brandon W. Phelps, Patrick J Verschoore, Jack McGuire, Jack D. Franks, Linda Chapa LaVia, Naomi D. Jakobsson and Kurt M. Granberg

Senate Sponsors
(Sen. James F. Clayborne, Jr.)


Last Action  View All Actions

DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1A-108.5 new
40 ILCS 5/15-167from Ch. 108 1/2, par. 15-167

Synopsis As Introduced
Amends the Illinois Pension Code. Provides that it is the public policy of the State of Illinois to encourage the pension funds, and any State agency investing funds on behalf of pension funds, to promote the economy of Illinois through the use of economic opportunity investments while managing their assets to the greatest extent feasible within the bounds of financial and fiduciary prudence. Provides that each pension fund, except pension funds created under the Downstate Police and Firefighters Articles of the Code, shall submit a report to the Governor and the General Assembly by September 1 of each year that identifies the economic opportunity investments made by the fund, the primary location of the business or project, the percentage of the fund's assets in economic opportunity investments, and the actions that the fund has undertaken to increase the use of economic opportunity investments, including encouraging other investment managers to make economic opportunity investments through subcontractors. Requires certain pension funds, and any State agency investing funds on behalf of those pension funds, to make all reasonable efforts to invest a minimum of 5% of pension fund assets in economic opportunity investments. Effective immediately.

Actions 
DateChamber Action
  1/12/2006HouseFiled with the Clerk by Rep. John E. Bradley
  1/12/2006HouseFirst Reading
  1/12/2006HouseReferred to Rules Committee
  1/25/2006HouseAdded Chief Co-Sponsor Rep. Lisa M. Dugan
  1/31/2006HouseAdded Chief Co-Sponsor Rep. Daniel V. Beiser
  1/31/2006HouseAssigned to Personnel and Pensions Committee
  2/9/2006HouseDo Pass / Short Debate Personnel and Pensions Committee; 005-000-000
  2/9/2006HousePlaced on Calendar 2nd Reading - Short Debate
  2/14/2006HouseAdded Co-Sponsor Rep. Brandon W. Phelps
  2/16/2006HouseSecond Reading - Short Debate
  2/16/2006HousePlaced on Calendar Order of 3rd Reading - Short Debate
  2/21/2006HouseSecond Reading - Consent Calendar
  2/21/2006HouseRemoved from Short Debate Status Rep. John E. Bradley
  2/21/2006HouseCalendar Order of 3rd Reading - Standard Debate
  2/21/2006HouseAdded Chief Co-Sponsor Rep. Mike Boland
  2/21/2006HouseAdded Chief Co-Sponsor Rep. Michael K. Smith
  2/21/2006HouseAdded Co-Sponsor Rep. Patrick J Verschoore
  2/21/2006HouseAdded Co-Sponsor Rep. Jack McGuire
  2/21/2006HouseAdded Co-Sponsor Rep. Jack D. Franks
  2/21/2006HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  2/21/2006HouseThird Reading - Standard Debate - Passed 064-043-005
  2/22/2006SenateArrive in Senate
  2/22/2006SenatePlaced on Calendar Order of First Reading February 23, 2006
  2/23/2006SenateChief Senate Sponsor Sen. James F. Clayborne, Jr.
  2/23/2006SenateFirst Reading
  2/23/2006SenateReferred to Rules
  3/1/2006HouseAdded Co-Sponsor Rep. Naomi D. Jakobsson
  3/15/2006SenateAssigned to Pensions & Investments
  3/25/2006SenateRule 3-9(a) / Re-referred to Rules
  3/30/2006HouseAdded Co-Sponsor Rep. Kurt M. Granberg
  1/9/2007HouseSession Sine Die

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