Illinois House Bill 971 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on February 10 2009 - 25% progression, died in committee
Action: 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Pension Code. Provides that, if a downstate police or fire pension fund has net assets of $10,000,000 or more and if it uses the services of an investment management consultant or an investment manager, then the pension fund's total investment in the specified types of investments shall not exceed 50% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation. Provides that, if a downstate police or fire pension fund has net assets of less than $10,000,000 or if does not use the services of an investment management consultant or an investment manager, then the pension fund's total investment in those types of investment shall not exceed 35% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation.

PEN CD-ART 3 & 4 INVESTMENTS

Rep. Mark Beaubien [R]

Date	Chamber	Action
2009-03-13		Rule 19(a) / Re-referred to Rules Committee
2009-02-18		Assigned to Executive Committee
2009-02-10		Referred to Rules Committee
2009-02-10		First Reading
2009-02-10		Filed with the Clerk by Rep. Mark H. Beaubien, Jr.

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=971&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB0971.htm