Illinois Senate Bill 3749 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions Article of the Illinois Pension Code. In a provision requiring a retirement system, pension fund, or investment board to adopt a policy setting forth goals for the utilization of emerging investment managers, provides that the goals established shall be based on the total dollar amount of fees paid under (instead of the total dollar amount of) investment contracts let to minority-owned businesses, women-owned businesses, and businesses owned by a person with a disability. Makes related changes. Requires the goals to be established on or before January 1, 2021. Provides that it shall be the aspirational goal for a retirement system, pension fund, or investment board subject to the Code to use emerging investment managers for not less than 20% of the fees paid in each asset class (instead of 20% of the total funds under management). Effective immediately.

PEN CD-INVESTMENT GOALS

Sen. Don Harmon [D]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2020-12-01	Senate	Chief Sponsor Changed to Sen. Don Harmon
2020-02-14	Senate	Referred to Assignments
2020-02-14	Senate	First Reading
2020-02-14	Senate	Filed with Secretary by Sen. Iris Y. Martinez

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-109.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3749&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB3749.htm