Illinois General Assembly - Bill Status for SB0452
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 Bill Status of SB0452  98th General Assembly

Short Description:  PEN CD-CONTRACT-INVESTMENT SVC

Senate Sponsors
Sen. James F. Clayborne, Jr. - Iris Y. Martinez - Kwame Raoul

House Sponsors
(Rep. Arthur Turner - Christian L. Mitchell - Elgie R. Sims, Jr.)

Last Action
DateChamber Action
  8/22/2014SenatePublic Act . . . . . . . . . 98-1022

Statutes Amended In Order of Appearance
40 ILCS 5/6-101from Ch. 108 1/2, par. 6-101


Synopsis As Introduced
Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago firefighters.

Senate Floor Amendment No. 1
Deletes reference to:
40 ILCS 5/6-101
Adds reference to:
40 ILCS 5/1-113.21 new

Replaces everything after the enacting clause. Amends the Illinois Pension Code. Beginning January 1, 2015, requires persons and entities bidding on a contract for providing investment services, consulting services, or commitment to a private market fund to a retirement system, pension fund, or investment board to disclose certain information about their use of minority persons, female persons, and persons with a disability. Requires consideration of these disclosures before awarding the contract. Defines terms.

Senate Floor Amendment No. 2
In a provision requiring consideration of the data presented prior to awarding a contract, requires that consideration to be "within the bounds of financial and fiduciary prudence".

House Floor Amendment No. 2
Adds reference to:
40 ILCS 5/1-109.1from Ch. 108 1/2, par. 1-109.1
40 ILCS 5/1-109.3
110 ILCS 979/30

Replaces everything after the enacting clause with the provisions of the engrossed bill, plus the following additional provisions: (1) In provisions relating to investment managers, defines "minority investment managers" and provides that, on or before February 1, 2015, a public employee retirement system, pension fund, or investment board, with certain exceptions, shall adopt a policy that sets forth goals for increasing the utilization of minority investment managers; requires annual review. Declares it to be the public policy of the State to encourage the use of minority investment managers. Provides that if a minority investment contractor is qualified for a contract, the manager shall be invited to present his or her firm for final consideration for a contract. (2) Beginning January 1, 2015, requires every current or incoming trustee, Chief Financial Officer, Chief Investment Officer, and Executive Director of any public retirement system, pension fund, or investment board to receive 10 hours of minority and female investment inclusion training, with the oversight of the Senate Public Pensions and State Investments Committee. (3) Amends the Illinois Prepaid Tuition Act. Provides that the Illinois Student Assistance Commission shall be subject to the same requirements as are imposed upon the board of trustees of a retirement system under certain provisions of the Illinois Pension Code, to the extent that those requirements are not in direct conflict with any other requirement of law to which the Commission is subject.

House Floor Amendment No. 3
Deletes reference to:
40 ILCS 5/1-109.3

Deletes a provision that required every current or incoming trustee, Chief Financial Officer, Chief Investment Officer, and Executive Director of any public retirement system or pension fund to receive 10 hours of minority and female investment inclusion training.

Actions 
DateChamber Action
  1/23/2013SenateFiled with Secretary by Sen. John J. Cullerton
  1/23/2013SenateFirst Reading
  1/23/2013SenateReferred to Assignments
  3/13/2013SenateAssigned to Executive
  3/20/2013SenateDo Pass Executive; 010-000-000
  3/20/2013SenatePlaced on Calendar Order of 2nd Reading March 21, 2013
  4/12/2013SenateSecond Reading
  4/12/2013SenatePlaced on Calendar Order of 3rd Reading April 16, 2013
  4/16/2013SenateRe-referred to Assignments
  4/3/2014SenateChief Sponsor Changed to Sen. James F. Clayborne, Jr.
  4/3/2014SenateApproved for Consideration Assignments
  4/3/2014SenatePlaced on Calendar Order of 3rd Reading April 7, 2014
  4/7/2014SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. James F. Clayborne, Jr.
  4/7/2014SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/8/2014SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. James F. Clayborne, Jr.
  4/8/2014SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/8/2014SenateSenate Floor Amendment No. 1 Assignments Refers to Licensed Activities and Pensions
  4/8/2014SenateSenate Floor Amendment No. 2 Assignments Refers to Licensed Activities and Pensions
  4/9/2014SenateSenate Floor Amendment No. 1 Recommend Do Adopt Licensed Activities and Pensions; 009-000-000
  4/9/2014SenateSenate Floor Amendment No. 2 Recommend Do Adopt Licensed Activities and Pensions; 009-000-000
  4/9/2014SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  4/9/2014SenateAdded as Chief Co-Sponsor Sen. Kwame Raoul
  4/9/2014SenateRecalled to Second Reading
  4/9/2014SenateSenate Floor Amendment No. 1 Adopted; Clayborne
  4/9/2014SenateSenate Floor Amendment No. 2 Adopted; Clayborne
  4/9/2014SenatePlaced on Calendar Order of 3rd Reading
  4/9/2014SenateThird Reading - Passed; 058-000-000
  4/10/2014HouseArrived in House
  4/10/2014HouseChief House Sponsor Rep. Arthur Turner
  4/10/2014HouseFirst Reading
  4/10/2014HouseReferred to Rules Committee
  4/28/2014HouseAssigned to Personnel and Pensions Committee
  5/15/2014HouseAdded Alternate Chief Co-Sponsor Rep. Christian L. Mitchell
  5/15/2014HouseDo Pass / Short Debate Personnel and Pensions Committee; 008-000-000
  5/16/2014HousePlaced on Calendar 2nd Reading - Short Debate
  5/20/2014HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Arthur Turner
  5/20/2014HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/22/2014HouseSecond Reading - Short Debate
  5/22/2014HouseHeld on Calendar Order of Second Reading - Short Debate
  5/23/2014HouseAdded Alternate Chief Co-Sponsor Rep. Elgie R. Sims, Jr.
  5/23/2014HouseFinal Action Deadline Extended-9(b) May 30, 2014
  5/23/2014HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Arthur Turner
  5/23/2014HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  5/26/2014HouseHouse Floor Amendment No. 2 Rules Refers to Personnel and Pensions Committee
  5/27/2014HouseHouse Floor Amendment No. 2 Recommends Be Adopted Personnel and Pensions Committee; 010-000-000
  5/27/2014HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Arthur Turner
  5/27/2014HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  5/28/2014HouseHouse Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 004-000-000
  5/28/2014HouseHouse Floor Amendment No. 2 Adopted
  5/28/2014HouseHouse Floor Amendment No. 3 Adopted
  5/28/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/29/2014HouseThird Reading - Short Debate - Passed 108-006-001
  5/29/2014SenateSecretary's Desk - Concurrence House Amendment(s) 2, 3
  5/29/2014SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2, 3 - May 30, 2014
  5/29/2014SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr.
  5/29/2014SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  5/29/2014SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. James F. Clayborne, Jr.
  5/29/2014SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Assignments
  5/30/2014SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Licensed Activities and Pensions
  5/30/2014SenateHouse Floor Amendment No. 3 Motion to Concur Assignments Referred to Licensed Activities and Pensions
  5/30/2014SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 006-000-000
  5/30/2014SenateHouse Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 006-000-000
  5/30/2014SenateHouse Floor Amendment No. 2 Senate Concurs 057-000-000
  5/30/2014SenateHouse Floor Amendment No. 3 Senate Concurs 057-000-000
  5/30/2014SenatePassed Both Houses
  6/27/2014SenateSent to the Governor
  8/22/2014SenateGovernor Approved
  8/22/2014SenateEffective Date January 1, 2015
  8/22/2014SenatePublic Act . . . . . . . . . 98-1022

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