Illinois Senate Bill 1787 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on August 9 2019 - 100% progression
Action: 2019-08-09 - Public Act . . . . . . . . . 101-0353
Text: Latest bill text (Chaptered) [HTML]

Amends the Illinois Secure Choice Savings Program Act. Provides that an investment option may be a conservative fund rather than a conservative principal protection fund. Provides that the Illinois Secure Choice Savings Board may establish deadlines for payment of payroll deductions to the Fund and enter agreements to permit residents of other states to participate in the program. Includes a traditional IRA within the definition of the term "IRA". Provides for audits on a fiscal year basis rather than a calendar year basis and report by the following January rather than July. Requires the Treasurer to prepare annual reports on benefits provided by the Program and post the report on the Program website. Effective immediately.

SECURE CHOICE SAVINGS OPTION

Sen. Omar Aquino [D]

Sen. Robert Martwick [D]

2019-05-23 - House - Third Reading in House (Y: 115 N: 0 NV: 2 Abs: 0) [PASS]
2019-03-13 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 5 Abs: 0) [PASS]

Date	Chamber	Action
2019-08-09	Senate	Public Act . . . . . . . . . 101-0353
2019-08-09	Senate	Effective Date August 9, 2019
2019-08-09	Senate	Governor Approved
2019-06-21	Senate	Sent to the Governor
2019-05-23	Senate	Passed Both Houses
2019-05-23	House	Third Reading - Short Debate - Passed 115-000-000
2019-05-16	House	Placed on Calendar Order of 3rd Reading - Short Debate
2019-05-16	House	Second Reading - Short Debate
2019-05-02	House	Placed on Calendar 2nd Reading - Short Debate
2019-05-02	House	Do Pass / Short Debate Personnel & Pensions Committee; 009-000-000
2019-04-09	House	Assigned to Personnel & Pensions Committee
2019-03-14	House	Referred to Rules Committee
2019-03-14	House	First Reading
2019-03-14	House	Chief House Sponsor Rep. Robert Martwick
2019-03-13	House	Arrived in House
2019-03-13	Senate	Third Reading - Passed; 054-000-000
2019-03-06	Senate	Placed on Calendar Order of 3rd Reading March 7, 2019
2019-03-06	Senate	Second Reading
2019-03-06	Senate	Placed on Calendar Order of 2nd Reading
2019-03-06	Senate	Do Pass Financial Institutions; 009-000-000
2019-02-27	Senate	Assigned to Financial Institutions
2019-02-15	Senate	Referred to Assignments
2019-02-15	Senate	First Reading
2019-02-15	Senate	Filed with Secretary by Sen. Omar Aquino

Chapter	Article	Section	Citation Type	Statute Text
820	80	30	Amended Code	Citation Text
820	80	45	Amended Code	Citation Text
820	80	5	Amended Code	Citation Text
820	80	65	Amended Code	Citation Text
820	80	80	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1787&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB1787.htm
Text	https://www.ilga.gov/legislation/101/SB/10100SB1787eng.htm
Text	https://www.ilga.gov/legislation/101/SB/10100SB1787enr.htm
Text	https://www.ilga.gov/legislation/publicacts/101/101-0353.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/101/senate/10100SB1787_03132019_012000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/101/house/10100SB1787_05232019_034000T.pdf