Bill Title: Amends the State Mandates Act. Provides that nothing in the amendatory Act shall override the process established under the provision of the School Code concerning the prohibition against unfunded mandates. Amends the Counties Code and Illinois Municipal Code to provide that beginning January 1, 2015, if a county or municipality offers a 457(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then that county or municipality, and the persons acting under its authority, must act in accordance with the prudent investor rule when making plan-related decisions. Limits the concurrent exercise of home rule powers. Amends the School Code to provide that beginning January 1, 2015, if a school board other than the Chicago Board of Education offers a 403(b) or 457(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then that school board, and the persons acting under its authority, must act in accordance with the prudent investor rule when making plan-related decisions.

Spectrum: Moderate Partisan Bill (Democrat 4-1)

Status: (Passed) 2013-01-25 - Public Act . . . . . . . . . 97-1154 [HB5495 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2013-01-25	HTML/Text	Link	View
Enrolled	2013-01-08	HTML/Text	Link	View
Amended	2013-01-02	HTML/Text	Link	View
Amended	2012-05-31	HTML/Text	Link	View
Amended	2012-05-30	HTML/Text	Link	View
Amended	2012-05-22	HTML/Text	Link	View
Amended	2012-05-10	HTML/Text	Link	View
Engrossed	2012-03-29	HTML/Text	Link	View
Introduced	2012-02-10	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5495

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5495 currently on file.

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