Illinois General Assembly - Bill Status for SB0460
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 Bill Status of SB0460  103rd General Assembly

Short Description:  PEN CD-CHI MUNI-INVESTMENT

Senate Sponsors
Sen. Napoleon Harris, III - Karina Villa - Adriane Johnson - Jacqueline Y. Collins, Emil Jones, III and Patricia Van Pelt

House Sponsors
(Rep. Lamont J. Robinson, Jr. - Carol Ammons - William Davis - Will Guzzardi)

Last Action
DateChamber Action
  7/9/2021SenatePublic Act . . . . . . . . . 102-0097

Statutes Amended In Order of Appearance
40 ILCS 5/8-201.2 new
30 ILCS 805/8.45 new


Synopsis As Introduced
Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that all contracts for investment services shall be awarded by the board of trustees using a competitive process that is substantially similar to the process required for the procurement of professional and artistic services under the Illinois Procurement Code. Provides that an exception shall be allowed for contracts for investment services with an emerging investment manager provided through a qualified manager of emerging investment managers services. Provides that based upon a written recommendation from an investment adviser providing qualified manager of emerging investment managers services for the selection or appointment of an emerging investment manager that has been providing investment services in the multimanager portfolio for at least 24 months, the board may select or appoint such emerging investment manager. Provides that all exceptions must be published on the Fund's website, which shall name the person authorizing the procurement and shall include a brief explanation of the reason for the exception. Defines terms. Amends the State Mandates Act to require implementation without reimbursement by the State.

Senate Committee Amendment No. 1
Deletes reference to:
40 ILCS 5/8-201.2 new
Adds reference to:
40 ILCS 5/1-113.24 new

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Moves and changes the applicability of the provisions from the Chicago Municipal Article to the General Provisions Article. Makes conforming changes.

Actions 
DateChamber Action
  2/23/2021SenateFiled with Secretary by Sen. Napoleon Harris, III
  2/23/2021SenateFirst Reading
  2/23/2021SenateReferred to Assignments
  3/3/2021SenateAssigned to Pensions
  4/8/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
  4/8/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/8/2021SenateAdded as Chief Co-Sponsor Sen. Karina Villa
  4/13/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Pensions
  4/14/2021SenateSenate Committee Amendment No. 1 Adopted
  4/14/2021SenateDo Pass as Amended Pensions; 009-000-000
  4/14/2021SenatePlaced on Calendar Order of 2nd Reading April 15, 2021
  4/20/2021SenateSecond Reading
  4/20/2021SenatePlaced on Calendar Order of 3rd Reading April 21, 2021
  4/20/2021SenateAdded as Chief Co-Sponsor Sen. Adriane Johnson
  4/20/2021SenateAdded as Co-Sponsor Sen. Emil Jones, III
  4/21/2021SenateThird Reading - Passed; 059-000-000
  4/21/2021SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  4/22/2021HouseArrived in House
  4/22/2021HouseChief House Sponsor Rep. Lamont J. Robinson, Jr.
  4/23/2021HouseFirst Reading
  4/23/2021HouseReferred to Rules Committee
  4/28/2021SenateAdded as Co-Sponsor Sen. Patricia Van Pelt
  4/28/2021HouseAssigned to Personnel & Pensions Committee
  5/6/2021HouseDo Pass / Consent Calendar Personnel & Pensions Committee; 008-000-000
  5/6/2021HousePlaced on Calendar 2nd Reading - Consent Calendar
  5/12/2021HouseSecond Reading - Consent Calendar
  5/12/2021HouseHeld on Calendar Order of Second Reading - Consent Calendar
  5/13/2021HousePlaced on Calendar Order of 3rd Reading - Consent Calendar
  5/14/2021HouseThird Reading - Consent Calendar - First Day
  5/14/2021HouseAdded Alternate Chief Co-Sponsor Rep. William Davis
  5/14/2021HouseAdded Alternate Chief Co-Sponsor Rep. Carol Ammons
  5/14/2021HouseAlternate Chief Co-Sponsor Changed to Rep. William Davis
  5/17/2021HouseAdded Alternate Chief Co-Sponsor Rep. Will Guzzardi
  5/21/2021HouseThird Reading - Consent Calendar - Passed 111-000-000
  5/21/2021SenatePassed Both Houses
  6/17/2021SenateSent to the Governor
  7/9/2021SenateGovernor Approved
  7/9/2021SenateEffective Date January 1, 2022
  7/9/2021SenatePublic Act . . . . . . . . . 102-0097

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