IL HB1605 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the General Provisions Article of the Illinois Pension Code. By no later than December 31, 2020, requires every pension fund, except for a Downstate Police or Downstate Firefighter fund, to develop a climate change risk minimization policy. Provides that the policy shall consider the financial risk to the investments held by the pension fund in the event of different levels of climate change, as defined by the United Nations Framework Convention on Climate Change. Requires the policy to explain what sources of data, which must include specified sources, were used to make certain projections. Requires the policy to consider the scope of the financial risk of climate-related events. Authorizes the pension fund to determine a policy for all corporate equities held by the pension fund on voting for shareholder resolutions and directors to advance corporate policies that minimize the long-term risk to the pension fund's assets from increased climate change. Requires the policy to be updated annually and published on the pension fund's website. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

PEN CD-CLIMATE CHANGE POLICY

Sponsors


History

DateChamberAction
2020-06-23HouseRule 19(b) / Re-referred to Rules Committee
2020-03-12HouseAssigned to Personnel & Pensions Committee
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-02-21HouseTo Miscellaneous Issues Subcommittee
2019-02-13HouseAssigned to Personnel & Pensions Committee
2019-02-01HouseReferred to Rules Committee
2019-02-01HouseFirst Reading
2019-01-30HouseFiled with the Clerk by Rep. Camille Y. Lilly

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.43New CodeSee Bill Text
4051-113.65New CodeSee Bill Text

Illinois State Sources


Bill Comments

feedback