Bill Title: Amends the Illinois Pension Code. Moves the investment power for eligible downstate police and downstate firefighter pension funds to the Illinois State Board of Investment. Reduces the amount of training required for trustees of those pension funds. Makes conforming changes. Changes all downstate police and firefighter pension funds to a fiscal year beginning May 1. Doubles the annual compliance fee paid by the funds to the Department of Insurance. Requires the Department of Insurance to impose penalties of up to $2,000 per day for noncompliance with certain provisions relating to the transfer of investment assets. Authorizes emergency rulemaking and amends the Illinois Administrative Procedure Act to add a conforming provision. Amends the State Mandates Act to require implementation without reimbursement.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-04-22 - Rule 3-9(a) / Re-referred to Assignments [SB3317 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-02-19	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3317

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3317 currently on file.

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