Bill Status of SB 1292   96th General Assembly

Short Description:  PEN CD-FIDUCIARY DIVERSITY

Senate Sponsors
Sen. Donne E. Trotter-Jacqueline Y. Collins-Kwame Raoul-Mattie Hunter

House Sponsors
(Rep. Kevin A. McCarthy)


Last Action  View All Actions

DateChamber Action
  7/15/2009SenatePublic Act . . . . . . . . . 96-0043

Statutes Amended In Order of Appearance
40 ILCS 5/1-109.1from Ch. 108 1/2, par. 1-109.1

Synopsis As Introduced
Amends the Illinois Pension Code. Requires each retirement system to establish a policy with the goal of increasing the racial, ethnic, and gender diversity of its fiduciaries, update the goals annually, and submit a report to the Governor and General Assembly by September 1 of each year.

House Floor Amendment No. 5
Deletes reference to:
40 ILCS 5/1-109.1
Adds reference to:
30 ILCS 330/2from Ch. 127, par. 652
30 ILCS 330/2.5
30 ILCS 330/7.2
30 ILCS 330/9from Ch. 127, par. 659
30 ILCS 330/11from Ch. 127, par. 661
30 ILCS 330/15from Ch. 127, par. 665
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131from Ch. 108 1/2, par. 14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 15/1.1
40 ILCS 15/1.2

Replaces everything after the enacting clause. Provides that it is the intention of the General Assembly in enacting this legislation that, by applying $2,230,000,000 of the net proceeds of the sale of general obligation bonds to fund pension obligations of the State, an equivalent amount will be appropriated from the General Revenue Fund to the Office of the Governor to be directed to State agencies, in the discretion of and as determined by the Governor and upon written direction of the Governor to the Comptroller, to be expended for operational expenses, awards, grants, and permanent improvements to fund programs and services provided by community-based human service providers and for State-funded human service programs to ensure that we continue assisting the most vulnerable of our citizens. Amends the General Obligation Bond Act. Authorizes an additional $3,466,000,000 in Bonds to be used for the purpose of making the State's Fiscal Year 2010 required contributions to designated retirement systems. Provides that the terms of the Bonds may not exceed 5 years from issuance, and the Bonds must be issued with principal or mandatory redemption amounts in equal amounts, with payment of principal beginning in the first State fiscal year following the fiscal year of issuance. Makes other changes. Amends the Illinois Pension Code. In provisions of each of the 5 State-funded retirement systems concerning the State contribution, (i) provides that for purposes of determining the required State contribution to the System, the value of the System's assets shall be equal to the actuarial value of the System's assets and provides guidelines for calculating the actuarial value of the System's assets and (ii) makes changes concerning the required State contribution to the systems for State fiscal year 2010. Amends the State Pension Funds Continuing Appropriation Act. Limits the continuing appropriations for the State-funded retirement systems for fiscal year 2010 to the amounts certified by the systems, less the gross proceeds of the general obligation bonds sold in fiscal year 2010. Effective immediately.

Actions 
DateChamber Action
  2/10/2009SenateFiled with Secretary by Sen. Iris Y. Martinez
  2/10/2009SenateFirst Reading
  2/10/2009SenateReferred to Assignments
  2/18/2009SenateAssigned to Pensions and Investments
  2/26/2009SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  2/27/2009SenateDo Pass Pensions and Investments; 009-000-000
  2/27/2009SenatePlaced on Calendar Order of 2nd Reading March 4, 2009
  2/27/2009SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter
  2/27/2009SenateSponsor Removed Sen. Donne E. Trotter
  3/5/2009SenateSecond Reading
  3/5/2009SenatePlaced on Calendar Order of 3rd Reading March 6, 2009
  3/13/2009SenateAdded as Chief Co-Sponsor Sen. Kwame Raoul
  3/25/2009SenateAdded as Co-Sponsor Sen. Toi W. Hutchinson
  3/26/2009SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
  3/26/2009SenateThird Reading - Passed; 054-000-000
  3/26/2009HouseArrived in House
  3/26/2009HousePlaced on Calendar Order of First Reading
  3/26/2009HouseChief House Sponsor Rep. Lou Lang
  3/26/2009HouseFirst Reading
  3/26/2009HouseReferred to Rules Committee
  4/14/2009HouseAssigned to Executive Committee
  4/24/2009HouseAdded Alternate Co-Sponsor Rep. William D. Burns
  5/4/2009HouseRe-Referred to Personnel and Pensions Committee
  5/4/2009HouseAlternate Chief Sponsor Removed Rep. Lou Lang
  5/4/2009HouseChief House Sponsor Rep. Kevin A. McCarthy
  5/4/2009HouseMotion Filed to Suspend Rule 25 Personnel and Pensions Committee; Rep. Kevin A. McCarthy
  5/5/2009HouseAlternate Co-Sponsor Removed Rep. William D. Burns
  5/8/2009HouseCommittee/Final Action Deadline Extended-9(b) May 22, 2009
  5/12/2009SenateSponsor Removed Sen. Toi W. Hutchinson
  5/12/2009HouseHouse Committee Amendment No. 1 Filed with Clerk by Personnel and Pensions Committee
  5/12/2009HouseHouse Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote
  5/12/2009HouseRemains in Personnel and Pensions Committee
  5/14/2009HouseHouse Committee Amendment No. 2 Filed with Clerk by Personnel and Pensions Committee
  5/14/2009HouseHouse Committee Amendment No. 2 Adopted in Personnel and Pensions Committee; by Voice Vote
  5/14/2009HouseDo Pass as Amended / Short Debate Personnel and Pensions Committee; 006-004-000
  5/14/2009HousePlaced on Calendar 2nd Reading - Short Debate
  5/19/2009HouseSecond Reading - Short Debate
  5/19/2009HouseHeld on Calendar Order of Second Reading - Short Debate
  5/22/2009HouseFinal Action Deadline Extended-9(b) May 29, 2009
  5/29/2009HouseFinal Action Deadline Extended-9(b) May 31, 2009
  5/31/2009HouseRule 19(a) / Re-referred to Rules Committee
  7/14/2009HouseFinal Action Deadline Extended-9(b) November 30, 2009
  7/14/2009HouseLegislation Considered in Special Session No. 2
  7/14/2009HouseApproved for Consideration Rules Committee; 005-000-000
  7/14/2009HousePlaced on Calendar 2nd Reading - Short Debate
  7/15/2009HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Kevin A. McCarthy
  7/15/2009HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  7/15/2009HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Kevin A. McCarthy
  7/15/2009HouseHouse Floor Amendment No. 4 Referred to Rules Committee
  7/15/2009HouseHouse Floor Amendment No. 5 Filed with Clerk by Rep. Kevin A. McCarthy
  7/15/2009HouseHouse Floor Amendment No. 5 Referred to Rules Committee
  7/15/2009SenateChief Sponsor Changed to Sen. Donne E. Trotter
  7/15/2009HouseHouse Committee Amendment No. 1 Motion Filed to Table Rep. Kevin A. McCarthy
  7/15/2009HouseHouse Committee Amendment No. 1 Motion to Table Referred to Rules Committee
  7/15/2009HouseHouse Committee Amendment No. 2 Motion Filed to Table Rep. Kevin A. McCarthy
  7/15/2009HouseHouse Committee Amendment No. 2 Motion to Table Referred to Rules Committee
  7/15/2009HouseHouse Committee Amendment No. 1 Motion to Table Recommends Be Adopted Rules Committee; 004-000-000
  7/15/2009HouseHouse Committee Amendment No. 2 Motion to Table Recommends Be Adopted Rules Committee; 004-000-000
  7/15/2009HouseHouse Floor Amendment No. 5 Recommends Be Adopted Rules Committee; 004-000-000
  7/15/2009HouseHouse Committee Amendment No. 1 Motion to Table Amendment - Prevailed 113-000-000
  7/15/2009HouseHouse Committee Amendment No. 1 Tabled
  7/15/2009HouseHouse Committee Amendment No. 2 Motion to Table Amendment - Prevailed 112-000-000
  7/15/2009HouseHouse Committee Amendment No. 2 Tabled
  7/15/2009HouseHouse Floor Amendment No. 5 Adopted by Voice Vote
  7/15/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  7/15/2009House3/5 Vote Required
  7/15/2009HouseThird Reading - Short Debate - Passed 088-024-002
  7/15/2009HouseHouse Floor Amendment No. 3 Tabled Pursuant to Rule 40(a)
  7/15/2009HouseHouse Floor Amendment No. 4 Tabled Pursuant to Rule 40(a)
  7/15/2009SenateLegislation Considered in Special Session No. 2
  7/15/2009SenateSecretary's Desk - Concurrence House Amendment(s) 5
  7/15/2009SenatePlaced on Calendar Order of Concurrence House Amendment(s) 5 - July 15, 2009
  7/15/2009SenateHouse Floor Amendment No. 5 Motion to Concur Filed with Secretary Sen. Donne E. Trotter
  7/15/2009SenateHouse Floor Amendment No. 5 Motion to Concur Referred to Assignments
  7/15/2009SenateHouse Floor Amendment No. 5 Motion to Concur Be Approved for Consideration Assignments
  7/15/2009Senate3/5 Vote Required
  7/15/2009SenateHouse Floor Amendment No. 5 Senate Concurs 043-012-001
  7/15/2009SenatePassed Both Houses
  7/15/2009SenateSent to the Governor
  7/15/2009SenateGovernor Approved
  7/15/2009SenateEffective Date July 15, 2009
  7/15/2009SenatePublic Act . . . . . . . . . 96-0043

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