Bill Status of HB 2557   96th General Assembly

Short Description:  PEN CD-ECON OPPORTUNITY INVEST

House Sponsors
Rep. John E. Bradley

Senate Sponsors
(Sen. Ira I. Silverstein, Bill Brady and Dan Duffy)


Last Action  View All Actions

DateChamber Action
  8/25/2009HousePublic Act . . . . . . . . . 96-0753

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 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. Requires certain pension funds, and any State agency investing funds on behalf of those pension funds, to make reasonable efforts to invest in economic opportunity investments. Effective immediately.

Senate Committee Amendment No. 1
Corrects a cross-reference.

Senate Floor Amendment No. 3
Adds reference to:
40 ILCS 5/1-113.20 new

Further amends the Illinois Pension Code. Requires every pension fund, retirement system, and investment board created under this Code, except downstate police and fire pension funds, to instruct the fund's, system's, or board's investment advisors to utilize investment strategies designed to ensure that all securities transactions are executed in such a manner that the total explicit and implicit costs and total proceeds in every transaction are the most favorable under the circumstances.

Actions 
DateChamber Action
  2/20/2009HouseFiled with the Clerk by Rep. John E. Bradley
  2/20/2009HouseFirst Reading
  2/20/2009HouseReferred to Rules Committee
  2/25/2009HouseAssigned to Personnel and Pensions Committee
  3/12/2009HouseDo Pass / Short Debate Personnel and Pensions Committee; 007-000-000
  3/12/2009HousePlaced on Calendar 2nd Reading - Short Debate
  3/17/2009HouseSecond Reading - Short Debate
  3/17/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/18/2009HouseThird Reading - Short Debate - Passed 116-000-000
  3/18/2009SenateArrive in Senate
  3/18/2009SenatePlaced on Calendar Order of First Reading
  3/18/2009SenateChief Senate Sponsor Sen. Ira I. Silverstein
  3/18/2009SenateFirst Reading
  3/18/2009SenateReferred to Assignments
  4/22/2009SenateAssigned to Pensions and Investments
  4/27/2009SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Ira I. Silverstein
  4/27/2009SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/28/2009SenateSenate Committee Amendment No. 1 Assignments Refers to Pensions and Investments
  4/30/2009SenateSenate Committee Amendment No. 1 Held in Pensions and Investments
  4/30/2009SenateHeld in Pensions and Investments
  5/5/2009SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Chris Lauzen
  5/5/2009SenateSenate Committee Amendment No. 2 Referred to Assignments
  5/6/2009SenateSenate Committee Amendment No. 2 Assignments Refers to Pensions and Investments
  5/6/2009SenateAdded as Alternate Co-Sponsor Sen. Bill Brady
  5/6/2009SenateSenate Committee Amendment No. 1 Adopted
  5/7/2009SenateSenate Committee Amendment No. 2 Held in Pensions and Investments
  5/7/2009SenateDo Pass as Amended Pensions and Investments; 010-000-000
  5/7/2009SenatePlaced on Calendar Order of 2nd Reading May 12, 2009
  5/7/2009SenateAdded as Alternate Co-Sponsor Sen. Dan Duffy
  5/8/2009SenateSenate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments
  5/12/2009SenateSecond Reading
  5/12/2009SenatePlaced on Calendar Order of 3rd Reading May 13, 2009
  5/13/2009SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Chris Lauzen
  5/13/2009SenateSenate Floor Amendment No. 3 Referred to Assignments
  5/17/2009SenateSenate Floor Amendment No. 3 Assignments Refers to Pensions and Investments
  5/18/2009SenateSenate Floor Amendment No. 3 Recommend Do Adopt Pensions and Investments; 006-000-000
  5/21/2009SenateRecalled to Second Reading
  5/21/2009SenateSenate Floor Amendment No. 3 Adopted; Lauzen
  5/21/2009SenatePlaced on Calendar Order of 3rd Reading
  5/21/2009SenateThird Reading - Passed; 059-000-000
  5/21/2009SenateSenate Committee Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
  5/21/2009HouseArrived in House
  5/21/2009HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1, 3
  5/27/2009HouseSenate Committee Amendment No. 1 Motion Filed Concur Rep. John E. Bradley
  5/27/2009HouseSenate Floor Amendment No. 3 Motion Filed Concur Rep. John E. Bradley
  5/27/2009HouseSenate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/27/2009HouseSenate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
  5/28/2009HouseSenate Committee Amendment No. 1 Motion to Concur Rules Referred to Personnel and Pensions Committee
  5/28/2009HouseSenate Floor Amendment No. 3 Motion to Concur Rules Referred to Personnel and Pensions Committee
  5/28/2009HouseSenate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Personnel and Pensions Committee; 010-000-000
  5/28/2009HouseSenate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Personnel and Pensions Committee; 010-000-000
  5/30/2009HouseSenate Committee Amendment No. 1 House Concurs 117-000-000
  5/30/2009HouseSenate Floor Amendment No. 3 House Concurs 117-000-000
  5/30/2009HousePassed Both Houses
  6/26/2009HouseSent to the Governor
  8/25/2009HouseGovernor Approved
  8/25/2009HouseEffective Date August 25, 2009
  8/25/2009HousePublic Act . . . . . . . . . 96-0753

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