Illinois General Assembly - Bill Status for HB1576
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 Bill Status of HB1576  101.th General Assembly


Short Description:  PEN CD-POLICE/FIRE INVESTMENT

House Sponsors
Rep. Ryan Spain - Steven Reick - David McSweeney

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-101.6 new
40 ILCS 5/1-101.7 new
40 ILCS 5/1-109.3
40 ILCS 5/1-113.05 new
40 ILCS 5/1-113.1
40 ILCS 5/1-113.2
40 ILCS 5/1-113.3
40 ILCS 5/1-113.4
40 ILCS 5/1-113.4a
40 ILCS 5/1-113.5
40 ILCS 5/1-113.6
40 ILCS 5/1-113.7
40 ILCS 5/1-136 new
40 ILCS 5/1A-112
40 ILCS 5/1A-113
40 ILCS 5/3-125from Ch. 108 1/2, par. 3-125
40 ILCS 5/3-127from Ch. 108 1/2, par. 3-127
40 ILCS 5/3-132from Ch. 108 1/2, par. 3-132
40 ILCS 5/3-135from Ch. 108 1/2, par. 3-135
40 ILCS 5/3-135.1 new
40 ILCS 5/3-135.2 new
40 ILCS 5/4-118from Ch. 108 1/2, par. 4-118
40 ILCS 5/4-120from Ch. 108 1/2, par. 4-120
40 ILCS 5/4-123from Ch. 108 1/2, par. 4-123
40 ILCS 5/4-128from Ch. 108 1/2, par. 4-128
40 ILCS 5/4-128.1 new
40 ILCS 5/4-128.2 new
40 ILCS 5/Art. 22B heading new
40 ILCS 5/22B-101 new
40 ILCS 5/22B-102 new
40 ILCS 5/22B-103 new
40 ILCS 5/22B-105 new
40 ILCS 5/22B-106 new
40 ILCS 5/22B-107 new
40 ILCS 5/22B-108 new
40 ILCS 5/22B-108.1 new
40 ILCS 5/22B-109 new
40 ILCS 5/22B-110 new
40 ILCS 5/22B-111 new
40 ILCS 5/22B-112 new
40 ILCS 5/22B-113 new
40 ILCS 5/22B-113.1 new
40 ILCS 5/22B-113.2 new
40 ILCS 5/22B-113.3 new
40 ILCS 5/22B-114 new
40 ILCS 5/22B-115 new
40 ILCS 5/22B-115.5 new
40 ILCS 5/Art. 22C heading new
40 ILCS 5/22C-101 new
40 ILCS 5/22C-102 new
40 ILCS 5/22C-103 new
40 ILCS 5/22C-105 new
40 ILCS 5/22C-106 new
40 ILCS 5/22C-107 new
40 ILCS 5/22C-108 new
40 ILCS 5/22C-108.1 new
40 ILCS 5/22C-109 new
40 ILCS 5/22C-110 new
40 ILCS 5/22C-111 new
40 ILCS 5/22C-112 new
40 ILCS 5/22C-113 new
40 ILCS 5/22C-113.1 new
40 ILCS 5/22C-113.2 new
40 ILCS 5/22C-113.3 new
40 ILCS 5/22C-114 new
40 ILCS 5/22C-115 new
40 ILCS 5/22C-115.5 new
30 ILCS 805/8.43 new


Synopsis As Introduced
Amends the Illinois Pension Code. Creates the Downstate Police Pension Investment Board and the Downstate Firefighter Pension Investment Board. Moves the investment authority of downstate police and firefighter pension funds to those Investment Boards. Includes provisions relating to the transfer and investment of the affected assets, auditing and reporting requirements, and the operation and administration of the Investment Boards. Reduces the amount of training required for trustees of those pension funds. Changes all downstate police and firefighter pension funds to a fiscal year beginning May 1. Doubles the annual compliance fee paid by the funds to the Department of Insurance. Requires the Department of Insurance to impose penalties of up to $2,000 per day for noncompliance with certain provisions relating to the transfer of investment assets. Makes conforming and other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/30/2019HouseFiled with the Clerk by Rep. Ryan Spain
  2/1/2019HouseFirst Reading
  2/1/2019HouseReferred to Rules Committee
  2/6/2019HouseAdded Chief Co-Sponsor Rep. Steven Reick
  2/7/2019HouseAdded Chief Co-Sponsor Rep. David McSweeney
  2/13/2019HouseAssigned to Personnel & Pensions Committee
  2/21/2019HouseTo Pension Reform Subcommittee
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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