Illinois Senate Bill 3638 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions Article of the Illinois Pension Code. Provides that "emerging investment manager" means a qualified investment adviser that manages an investment portfolio of at least $10,000,000 but less than $10,000,000,000 at the time of the initial contract with the retirement system, pension fund, or investment board (rather than at least $10,000,000 but less than $10,000,000,000) and is a minority-owned business, women-owned business, or business owned by a person with a disability. In a provision requiring a competitive process for awarding investment contracts, adds an exclusion for contracts for investment services with an emerging investment manager. Effective immediately.

PENCD-EMRGING INVSTMNT MANAGER

Sen. Iris Martinez [D]

Date	Chamber	Action
2019-01-09	Senate	Session Sine Die
2018-11-07	Senate	Referred to Assignments
2018-11-07	Senate	First Reading
2018-11-07	Senate	Filed with Secretary by Sen. Iris Y. Martinez

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-109.1	Amended Code	Citation Text
40	5	1-113.14	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3638&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/SB/10000SB3638.htm