IL HB3037 | 2023-2024 | 103rd General Assembly


Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on February 16 2023 - 25% progression
Action: 2024-04-29 - Added Co-Sponsor Rep. Margaret Croke
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]


Amends the General Provisions Article of the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Fossil Fuel Divestment Act. With regard to the pension funds and retirement systems established under the General Assembly, Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, Chicago Laborers', State Employees, State Universities, Downstate Teachers, or Judges Article of the Code, prohibits investment of pension system assets in fossil fuel companies. Requires pension systems to adopt an update to its written investment policies if necessary. Requires pension systems to divest any holdings of stocks, securities, or other obligations of a fossil fuel company. Provides that, beginning one year after the effective date of the amendatory Act, the board of trustees of a pension system shall ensure that the pension system does not invest in any indirect investment vehicle unless the board of trustees is satisfied that the investment vehicle is unlikely to have more than 2% of its assets invested in coal, oil, or gas producers. Requires pension systems to post on its publicly accessible website information detailing all its holdings in the public market and private equity investments. Requires pension systems to annually issue a report reviewing its environmental, social, and governance investment policy. Sets forth definitions and other provisions. 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.





2024-04-29HouseAdded Co-Sponsor Rep. Margaret Croke
2023-12-19HouseAdded Co-Sponsor Rep. Bob Morgan
2023-12-04HouseChief Co-Sponsor Changed to Rep. Carol Ammons
2023-12-04HouseAdded Chief Co-Sponsor Rep. Carol Ammons
2023-11-14HouseAdded Co-Sponsor Rep. Lindsey LaPointe
2023-10-03HouseAdded Co-Sponsor Rep. Hoan Huynh
2023-03-06HouseAdded Co-Sponsor Rep. Kelly M. Cassidy
2023-03-06HouseAdded Co-Sponsor Rep. Joyce Mason
2023-02-16HouseReferred to Rules Committee
2023-02-16HouseFirst Reading
2023-02-16HouseFiled with the Clerk by Rep. Will Guzzardi

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.47New CodeSee Bill Text
4051-110.18New CodeSee Bill Text

Illinois State Sources

Bill Comments