IL SB3638 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on November 7 2018 - 25% progression
Action: 2018-11-07 - Referred to Assignments
Pending: Senate Assignments Committee
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.

Tracking Information

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Title

PENCD-EMRGING INVSTMNT MANAGER

Sponsors


History

DateChamberAction
2018-11-07SenateReferred to Assignments
2018-11-07SenateFirst Reading
2018-11-07SenateFiled with Secretary by Sen. Iris Y. Martinez

Code Citations

ChapterArticleSectionCitation TypeStatute Text
4051-109.1Amended CodeCitation Text
4051-113.14Amended CodeCitation Text

Illinois State Sources


Bill Comments

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