Illinois General Assembly - Bill Status for SB 2152

Amends the State Universities, Downstate Teachers, and Board of Investment Articles of the Illinois Pension Code. Provides that the State Treasurer shall manage the System's or Investment Board's domestic and international proxy voting activity and execute required ballots on behalf of the System or Investment Board. Requires the State Treasurer to provide the Board of the System or Investment Board with comprehensive proxy voting reports on a quarterly basis and as requested by the Board of the System or Investment Board. Requires the Board of the System and the Investment Board to annually publish a report on its website describing how the Board is considering sustainability factors as defined in the Illinois Sustainable Investing Act and other information. Effective January 1, 2024.

Replaces everything after the enacting clause. Amends the State Universities, Downstate Teachers, and Board of Investment Articles of the Illinois Pension Code. Provides that the State Treasurer, upon the request of the Board, shall manage the domestic and international proxy voting activity for shares held directly by the System or Investment Board and execute required ballots on behalf of the System or Investment Board. Requires the State Treasurer to provide the Board of the System or the Investment Board with comprehensive proxy voting reports on a quarterly basis and as requested. Sets forth provisions concerning fiduciary duties of the State Treasurer with regard to proxy voting; limitations on liability; and costs associated with proxy voting. Repeals the provisions on January 1, 2027. Requires the Board of the System and the Investment Board to annually publish their guidelines for voting proxy ballots and a detailed report on their websites describing how the Boards are considering sustainability factors as defined in the Illinois Sustainable Investing Act and other information. Effective January 1, 2024.

Replaces everything after the enacting clause. Reinserts the provisions of the bill as amended by Senate Amendment No. 2 with the following changes. Provides that the State Treasurer, upon the affirmative vote of three-fifths of the Board (instead of upon the request of the Board), shall manage the domestic and international proxy voting activity for shares held directly by the System or Investment Board and execute required ballots on behalf of the System or Investment Board. Provides that the Board's consent may be revoked at any time upon the affirmative vote of a majority of the Board. Requires the State Treasurer to provide access to communications with its third-party proxy voting service, if any, used in preparing the comprehensive proxy voting reports requested by the Board. Authorizes the Board to provide the State Treasurer with guidance for proxy voting, which, if provided, the State Treasurer shall consider when voting. Provides that in order to facilitate the State Treasurer's proxy voting activities and before the State Treasurer begins proxy voting activities, the State Treasurer and the Board shall enter into an intergovernmental agreement concerning costs, proxy voting guidance, reports and other documents, and other issues. Removes language providing that all costs associated with the State Treasurer's management of proxy voting activity shall be borne exclusively by the State Treasurer. Provides that on or before September 1, 2023 (instead of January 1, 2025), and annually thereafter, the Board shall publish its guidelines for voting proxy ballots and a detailed report on its website describing how the Board is considering sustainability factors. Makes other changes. Effective immediately (instead of January 1, 2024).

Date	Chamber	Action
8/7/2023	Senate	Public Act . . . . . . . . . 103-0468

Date	Chamber	Action
2/10/2023	Senate	Filed with Secretary by Sen. Bill Cunningham
2/10/2023	Senate	First Reading
2/10/2023	Senate	Referred to Assignments
2/28/2023	Senate	Assigned to Executive
3/2/2023	Senate	Added as Co-Sponsor Sen. Mattie Hunter
3/7/2023	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Bill Cunningham
3/7/2023	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/8/2023	Senate	Senate Committee Amendment No. 1 Assignments Refers to Executive
3/9/2023	Senate	Senate Committee Amendment No. 1 Postponed - Executive
3/9/2023	Senate	Postponed - Executive
3/10/2023	Senate	Rule 2-10 Committee Deadline Established As March 24, 2023
3/22/2023	Senate	Senate Committee Amendment No. 2 Filed with Secretary by Sen. Bill Cunningham
3/22/2023	Senate	Senate Committee Amendment No. 2 Referred to Assignments
3/22/2023	Senate	Senate Committee Amendment No. 2 Assignments Refers to Executive
3/22/2023	Senate	Senate Committee Amendment No. 1 Postponed - Executive
3/22/2023	Senate	Senate Committee Amendment No. 2 Adopted; Executive
3/23/2023	Senate	Do Pass as Amended Executive; 010-001-000
3/23/2023	Senate	Placed on Calendar Order of 2nd Reading March 24, 2023
3/28/2023	Senate	Second Reading
3/28/2023	Senate	Placed on Calendar Order of 3rd Reading March 29, 2023
3/29/2023	Senate	Senate Floor Amendment No. 3 Filed with Secretary by Sen. Bill Cunningham
3/29/2023	Senate	Senate Floor Amendment No. 3 Referred to Assignments
3/29/2023	Senate	Senate Floor Amendment No. 3 Assignments Refers to Executive
3/30/2023	Senate	Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 013-000-000
3/30/2023	Senate	Recalled to Second Reading
3/30/2023	Senate	Senate Floor Amendment No. 3 Adopted; Cunningham
3/30/2023	Senate	Placed on Calendar Order of 3rd Reading
3/30/2023	Senate	Third Reading - Passed; 050-005-000
3/30/2023	Senate	Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
3/30/2023	Senate	Added as Co-Sponsor Sen. Willie Preston
3/31/2023	House	Arrived in House
3/31/2023	House	Chief House Sponsor Rep. Stephanie A. Kifowit
4/11/2023	House	First Reading
4/11/2023	House	Referred to Rules Committee
4/18/2023	House	Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.
4/18/2023	House	Assigned to Personnel & Pensions Committee
4/18/2023	House	Added Alternate Co-Sponsor Rep. Jay Hoffman
4/20/2023	House	Added Alternate Chief Co-Sponsor Rep. Mary E. Flowers
4/27/2023	House	Do Pass / Short Debate Personnel & Pensions Committee; 005-003-000
4/27/2023	House	Placed on Calendar 2nd Reading - Short Debate
5/2/2023	House	Second Reading - Short Debate
5/2/2023	House	Placed on Calendar Order of 3rd Reading - Short Debate
5/2/2023	House	Added Alternate Co-Sponsor Rep. Barbara Hernandez
5/3/2023	House	Added Alternate Co-Sponsor Rep. Diane Blair-Sherlock
5/9/2023	House	Added Alternate Co-Sponsor Rep. Will Guzzardi
5/9/2023	House	Added Alternate Co-Sponsor Rep. Joyce Mason
5/11/2023	Senate	Added as Co-Sponsor Sen. Napoleon Harris, III
5/11/2023	House	Third Reading - Short Debate - Passed 073-038-001
5/11/2023	Senate	Passed Both Houses
6/9/2023	Senate	Sent to the Governor
8/4/2023	Senate	Governor Approved
8/7/2023	Senate	Effective Date August 4, 2023
8/7/2023	Senate	Public Act . . . . . . . . . 103-0468

	Adds reference to:
	40 ILCS 5/15-177.6 new