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Sen. Iris Y. Martinez
Filed: 3/1/2005
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09400SB0547sam001 |
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LRB094 10050 AMC 42718 a |
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| AMENDMENT TO SENATE BILL 547
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| AMENDMENT NO. ______. Amend Senate Bill 547 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Illinois Pension Code is amended by adding |
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| Section 22A-111.2 as follows:
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| (40 ILCS 5/22A-111.2 new) |
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| Sec. 22A-111.2. Policy for voting on
shareholder |
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| resolutions and contested elections for corporate boards. On or |
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| before January 1, 2006, the Board shall develop a policy for |
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| voting on
shareholder resolutions and contested elections for
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| corporate boards. The Board shall publish
the policy on a |
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| website, shall accept testimony from
members of the public at |
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| least twice a year, and shall
update the policy at least |
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| annually. All
investment managers managing equities owned by |
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| the Board or under the Board's control shall follow the policy
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| detailed by the Board in all
shareholder votes. Those |
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| investment managers shall
report to the Board
their shareholder |
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| votes.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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