Illinois House Bill 145 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Amends the Illinois Pension Code. Provides that no assets of any retirement system shall be invested in any foreign company that has an equity tie to the government of Iran or its instrumentalities and that is engaged in specified business activities. Exempts any foreign company providing humanitarian aid to the Iranian people through either a governmental or non-governmental organization. Requires the retirement system to sell, redeem, divest, or withdraw any investment held in violation of these requirements. Provides that these provisions shall not be construed to require the premature or otherwise imprudent sale, redemption, divestment, or withdrawal of an investment but requires such sale, redemption, divestment, or withdrawal to be completed no later than 3 years after the effective date of the amendatory Act. Requires, within 60 days after the effective date of the amendatory Act and annually thereafter, each retirement system to file with the Public Pension Division and the General Assembly a report of all investments that violate these provisions. Provides that these provisions shall be of no effect if (i) the Congress or the President of the United States declares that the government of Iran has ceased to acquire or develop weapons of mass destruction and to support international terrorism or (ii) the United States revokes all sanctions imposed against the government of Iran. Indemnifies trustees and employees of the retirement systems from all claims, demands, suits, actions, damages, judgments, costs, charges, and expenses and against all liability, losses, and damages of any nature resulting from any decision to restrict, reduce, or eliminate investments. Effective immediately.

PEN CD-ASSET INVESTMENT-IRAN

Rep. Jack Franks [D]

Rep. Sidney Mathias [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2011-05-31	House	Rule 19(a) / Re-referred to Rules Committee
2011-05-27	House	Final Action Deadline Extended-9(b) May 31, 2011
2011-05-20	House	Final Action Deadline Extended-9(b) May 27, 2011
2011-05-06	House	Final Action Deadline Extended-9(b) May 20, 2011
2011-04-15	House	Final Action Deadline Extended-9(b) May 6, 2011
2011-04-14	House	House Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 003-000-000
2011-04-14	House	Held on Calendar Order of Second Reading - Short Debate
2011-04-14	House	Second Reading - Short Debate
2011-04-14	House	House Floor Amendment No. 3 Referred to Rules Committee
2011-04-14	House	House Floor Amendment No. 3 Filed with Clerk by Rep. Jack D. Franks
2011-04-13	House	House Floor Amendment No. 2 Referred to Rules Committee
2011-04-13	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Jack D. Franks
2011-03-17	House	House Committee Amendment No. 1 Tabled Pursuant to Rule 40
2011-03-17	House	Placed on Calendar 2nd Reading - Short Debate
2011-03-17	House	Do Pass / Short Debate Personnel and Pensions Committee; 006-001-002
2011-03-15	House	House Committee Amendment No. 1 Referred to Rules Committee
2011-03-15	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Jack D. Franks
2011-03-07	House	Re-assigned to Personnel and Pensions Committee
2011-02-08	House	Assigned to Executive Committee
2011-02-08	House	Added Chief Co-Sponsor Rep. Sidney H. Mathias
2011-01-18	House	Referred to Rules Committee
2011-01-18	House	First Reading
2011-01-13	House	Filed with the Clerk by Rep. Jack D. Franks

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-110.15	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=145&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB0145.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB0145ham003.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB0145ham001.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB0145ham002.htm