Illinois Senate Bill 1389 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 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. Removes provisions specifying, based on the net assets of the pension fund, types of investments that a downstate police or downstate firefighter pension fund may make. Removes provisions requiring an investment adviser for investments in certain common and preferred stocks. Removes certain limitations on the percentage of a pension fund's net assets that may be invested in certain types of investments. Makes conforming changes. Effective immediately.

PENCD-ART 3&4-INVSTMENT LIMITS

Sen. Chuck Weaver [R]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2019-02-13	Senate	Referred to Assignments
2019-02-13	Senate	First Reading
2019-02-13	Senate	Filed with Secretary by Sen. Chuck Weaver

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-109.1	Amended Code	Citation Text
40	5	1-110	Amended Code	Citation Text
40	5	1-110.6	Amended Code	Citation Text
40	5	1-113.1	Amended Code	Citation Text
40	5	1-113.14	Amended Code	Citation Text
40	5	1-113.16	Amended Code	Citation Text
40	5	1-113.2	Repealed Code	Citation Text
40	5	1-113.20	Amended Code	Citation Text
40	5	1-113.3	Repealed Code	Citation Text
40	5	1-113.4	Repealed Code	Citation Text
40	5	1-113.4a	Amended Code	Citation Text
40	5	1-113.5	Amended Code	Citation Text
40	5	1-150	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1389&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB1389.htm