90th General Assembly Summary of SB1536    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
TROTTER.

Short description: 
PEN CD-ECON TARGETED INVSTMTS                                              

Synopsis of Bill as introduced:
        Amends the Illinois Pension Code.  Authorizes investment of up to      
   25%  of  certain  pension  fund  assets   in   economically   targeted      
   investments in Illinois, of which an amount up to 10% of the assets of      
   the fund may be invested in economically targeted investments that are      
   targeted specifically to low or moderate income communities.  Declares      
   it  to  be public policy to encourage these investments and sets goals      
   for the major retirement systems.  Requires certain retirement systems      
   to make an annual report of these investments.  Effective immediately.      
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB1536 cannot be calculated as the extent       
          to which funds will actually invest in ETIs is unknown.              
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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