Illinois Senate Bill 2429

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 10 2023 - 25% progression
Action: 2023-06-26 - Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Sustainable Investing Act. Provides that, effective January 1, 2024, every investment manager shall comply with annual disclosure requirements that will require the investment manager to provide a description of the process through which the manager will 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, identify and minimize projected risk, and execute its fiduciary duties more effectively. Provides that the investment manager shall provide the annual disclosure to each public agency, pension fund, retirement system, or governmental unit for whom the investment manager is acting as a fiduciary or seeking selection as a fiduciary prior to acting in this capacity and at least annually thereafter. Provides that annual disclosures shall be submitted by January 31st of every year after the effective date of the amendatory Act. Defines "investment manager".

SUSTAINABILITY DISCLOSURES

Sen. Ram Villivalam [D]

Sen. Rachel Ventura [D]

Sen. Laura Murphy [D]

Date	Chamber	Action
2023-06-26	Senate	Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2023-04-21	Senate	Added as Co-Sponsor Sen. Laura M. Murphy
2023-03-31	Senate	Rule 3-9(a) / Re-referred to Assignments
2023-03-24	Senate	Added as Chief Co-Sponsor Sen. Rachel Ventura
2023-03-22	Senate	Placed on Calendar Order of 3rd Reading March 23, 2023
2023-03-22	Senate	Senate Floor Amendment No. 2 Adopted; Villivalam
2023-03-22	Senate	Second Reading
2023-03-22	Senate	Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 005-002-000
2023-03-21	Senate	Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
2023-03-16	Senate	Senate Floor Amendment No. 2 Referred to Assignments
2023-03-16	Senate	Senate Floor Amendment No. 2 Filed with Secretary by Sen. Ram Villivalam
2023-03-08	Senate	Placed on Calendar Order of 2nd Reading March 9, 2023
2023-03-08	Senate	Do Pass Financial Institutions; 005-003-000
2023-03-08	Senate	Senate Committee Amendment No. 1 Postponed - Financial Institutions
2023-03-07	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
2023-03-03	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2023-03-03	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ram Villivalam
2023-02-28	Senate	Assigned to Financial Institutions
2023-02-10	Senate	Referred to Assignments
2023-02-10	Senate	First Reading
2023-02-10	Senate	Filed with Secretary by Sen. Ram Villivalam

Chapter	Article	Section	Citation Type	Statute Text
30	238	10	Amended Code	Citation Text
30	238	20	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2429&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2429.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2429sam001.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2429sam002.htm