IL SB3638 | 2017-2018 | 100th General Assembly
Status
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]
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]
Summary
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.
Title
PENCD-EMRGING INVSTMNT MANAGER
Sponsors
History
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 |
Code Citations
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 |
Illinois State Sources
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 |