IL SB2062 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 15 2019 - 25% progression
Action: 2019-03-19 - Senate Committee Amendment No. 1 Assignments Refers to State Government
Pending: Senate State Government Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the Illinois Sustainable Investing Act. Provides that any public agency or governmental unit shall develop, publish, and implement sustainable investment policies applicable to the management of all public funds under its control. Provides that the sustainable investment policy may be incorporated in existing investment policies developed, published, and implemented by a public agency or governmental unit. Provides that the sustainable investment policy shall include material, relevant, and decision-useful sustainability factors to be applied by the public agency or governmental unit in evaluating investment decisions. Provides that a public agency shall prudently integrate sustainability factors into its investment decision-making, investment analysis, portfolio construction, due diligence, and investment ownership in order to maximize anticipated financial returns, minimize projected risk, and more effectively execute its fiduciary duty. Specifies sustainability factors, and the ways in which such factors may be analyzed. Amends the Deposit of State Moneys Act, the Public Funds Investment Act, and the Illinois Pension Code to make changes concerning investment policy and the Illinois Sustainable Investing Act. Provides findings and purpose provisions. Defines terms.

Tracking Information

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Title

SUSTAINABILITY INVESTING ACT

Sponsors


History

DateChamberAction
2019-03-19SenateSenate Committee Amendment No. 1 Assignments Refers to State Government
2019-03-15SenateSenate Committee Amendment No. 1 Referred to Assignments
2019-03-15SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez
2019-03-14SenateAdded as Co-Sponsor Sen. Scott M. Bennett
2019-03-13SenatePostponed - State Government
2019-03-05SenateAssigned to State Government
2019-02-15SenateReferred to Assignments
2019-02-15SenateFirst Reading
2019-02-15SenateFiled with Secretary by Sen. Iris Y. Martinez

Code Citations

ChapterArticleSectionCitation TypeStatute Text
1552022.8Amended CodeCitation Text
302352.5Amended CodeCitation Text
4051-113.17New CodeSee Bill Text
4051-113.6Amended CodeCitation Text

Illinois State Sources


Bill Comments

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