Illinois 98th Regular Session Status: Enacted

HB 2620 — PENCD-INVESTMENT SERVICES

Last action — Public Act . . . . . . . . . 98-0433

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 21, 2013. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the General Provisions Article of the Illinois Pension Code. In a Section requiring the use of a competitive selection process for obtaining investment services, creates an additional exception for "contracts for follow-on funds with the same fund sponsor through closed-end funds". Effective immediately.

Bill Text

What changed in the latest version

6 added · 6 removed

Plain-language change summary

The changes to Bill HB 2620 involve replacing "Engrossed" language with "Enrolled" language. This likely indicates that the bill has progressed further in the legislative process and is closer to becoming law. Such a transition is important because it reflects the bill's approval through various stages of scrutiny and amendment, and signifies that lawmakers are taking further steps toward its implementation.

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Latest
HB2620 Engrossed LRB098 07979 EFG 38068 b AN ACT concerning public employee benefits.
HB2620 Enrolled LRB098 07979 EFG 38068 b AN ACT concerning public employee benefits.
Each board of HB2620 Engrossed - 2 - LRB098 07979 EFG 38068 b trustees shall adopt a policy in accordance with this subsection (b) within 60 days after the effective date of this amendatory Act of the 96th General Assembly.
Each board of HB2620 Enrolled - 2 - LRB098 07979 EFG 38068 b trustees shall adopt a policy in accordance with this subsection (b) within 60 days after the effective date of this amendatory Act of the 96th General Assembly.
(c) Investment services provided by an investment adviser or a consultant appointed under this Section shall be rendered HB2620 Engrossed - 3 - LRB098 07979 EFG 38068 b pursuant to a written contract between the investment adviser or consultant and the board.
(c) Investment services provided by an investment adviser or a consultant appointed under this Section shall be rendered HB2620 Enrolled - 3 - LRB098 07979 EFG 38068 b pursuant to a written contract between the investment adviser or consultant and the board.
(ii) any entity that is a parent of, or owns a controlling interest in, the HB2620 Engrossed - 4 - LRB098 07979 EFG 38068 b consultant or investment adviser;
(ii) any entity that is a parent of, or owns a controlling interest in, the HB2620 Enrolled - 4 - LRB098 07979 EFG 38068 b consultant or investment adviser;
HB2620 Engrossed - 5 - LRB098 07979 EFG 38068 b (10) A description of the qualifications necessary.
HB2620 Enrolled - 5 - LRB098 07979 EFG 38068 b (10) A description of the qualifications necessary.
The disclosures required by this HB2620 Engrossed - 6 - LRB098 07979 EFG 38068 b subsection (e) shall be in writing and shall include the date and amount of each payment and the name and address of each recipient of a payment.
The disclosures required by this HB2620 Enrolled - 6 - LRB098 07979 EFG 38068 b subsection (e) shall be in writing and shall include the date and amount of each payment and the name and address of each recipient of a payment.
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Action History

  1. Public Act . . . . . . . . . 98-0433

  2. Effective Date August 16, 2013

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 050-008-000

  7. Placed on Calendar Order of 3rd Reading May 15, 2013

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading May 14, 2013

  10. Do Pass Executive; 013-000-000

  11. Postponed - Executive

  12. Assigned to Executive

  13. Referred to Assignments

  14. First Reading

  15. Chief Senate Sponsor Sen. Daniel Biss

  16. Placed on Calendar Order of First Reading

  17. Arrive in Senate

  18. Third Reading - Short Debate - Passed 074-042-000

  19. Placed on Calendar Order of 3rd Reading - Short Debate

  20. Second Reading - Short Debate

  21. Placed on Calendar 2nd Reading - Short Debate

  22. Do Pass / Short Debate Personnel and Pensions Committee; 007-001-000

  23. Assigned to Personnel and Pensions Committee

  24. Referred to Rules Committee

  25. First Reading

  26. Filed with the Clerk by Rep. Al Riley

Sponsors

  • Al Riley · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

0 sponsors · 1 co-sponsors · 182 not signed on · 14 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • Al Riley

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 50 Yea · 8 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 36700
Democrat 12001
Republican 2100
Total 50801
% of votes cast 85%14%0%2%
How each member voted (59)
Member Party Vote
Kotowski — Yea
Link — Yea
Althoff — Yea
Martinez — Yea
Barickman — Nay
Bertino-Tarrant — Yea
Biss — Yea
Bivins — Yea
Bush — Yea
Mulroe — Yea
Landek — Yea
Luechtefeld — Yea
Manar — Yea
McConnaughay — Yea
Muñoz — Yea
Noland — Yea
Silverstein — Yea
Steans — Yea
Trotter — Yea
Harris — Yea
Brady — Yea
McGuire — Yea
Sullivan — Yea
Jacobs — Yea
Cullerton, T. — Yea
Cullerton — Yea
Clayborne — Yea
Connelly — Yea
Dillard — Yea
Forby — Yea
Frerichs — Yea
Haine — Yea
Hutchinson — Yea
LaHood — Nay
McCann — Nay
McCarter — Nay
Righter — Nay
Duffy — Nay
Oberweis — Nay
Radogno — Yea
Raoul — Yea
Sandoval — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Emil Jones, III Democrat Yea
Eva-Dina Delgado Democrat Yea
Julie A. Morrison Democrat Not Voting
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Steve Stadelman Democrat Yea
Chapin Rose Republican Nay
Dave Syverson Republican Yea
Sue Rezin Republican Yea

Official roll call →

Third Reading

Passed 74 Yea · 42 Nay · 2 Other
Party YeaNayPresentNot Voting
Democrat 18502
Unaffiliated 553000
Republican 1700
Total 744202
% of votes cast 63%36%0%2%
How each member voted (118)
Member Party Vote
Acevedo — Yea
Arroyo — Yea
Beiser — Yea
Bellock — Yea
Berrios — Yea
Mautino — Yea
Bost — Yea
Brauer — Nay
Brown — Nay
McAsey — Yea
Costello — Nay
Farnham — Nay
Jakobsson — Yea
Jefferson — Yea
Mell — Yea
Lang — Yea
McAuliffe — Yea
McSweeney — Yea
Bradley — Yea
Burke, Daniel — Yea
Durkin — Yea
Flowers — Yea
Golar — Yea
Leitch — Nay
Burke, Kelly — Yea
Madigan — Yea
Sullivan — Yea
Mitchell, Christian — Yea
Harris, Greg — Yea
Moffitt — Yea
Hernandez — Yea
Nekritz — Yea
Pihos — Yea
Sente — Nay
Smiddy — Nay
Williams — Yea
Davis, Monique — Yea
Jones — Yea
Sommer — Nay
Soto — Yea
Tabares — Yea
Thapedi — Nay
Brady — Nay
Tryon — Yea
Turner — Yea
Unes — Nay
Mitchell, Bill — Nay
Verschoore — Yea
Zalewski — Yea
Harris, David — Nay
Cavaletto — Yea
Cloonen — Nay
Conroy — Nay
Cross — Yea
Currie — Yea
D'Amico — Yea
Demmer — Yea
Dunkin — Yea
Fortner — Nay
Franks — Nay
Harms — Nay
Hatcher — Yea
Hays — Nay
Ives — Yea
Jackson — Yea
Wheeler — Nay
Pritchard — Nay
Willis — Nay
Yingling — Nay
Drury — Nay
Hurley — Nay
Kay — Yea
Kosel — Nay
Osmond — Nay
Phelps — Yea
Poe — Yea
Reboletti — Yea
Reis — Yea
Riley — Yea
Roth — Yea
Sacia — Nay
Sandack — Nay
Schmitz — Yea
Senger — Yea
Chapa LaVia — Nay
Anthony DeLuca Democrat Yea
Camille Y. Lilly Democrat Yea
Elgie R. Sims, Jr. Democrat Not Voting
Emanuel "Chris" Welch Democrat Yea
Fred Crespo Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Julie A. Morrison Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Laura Fine Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Martin J. Moylan Democrat Nay
Michelle Mussman Democrat Nay
Natalie A. Manley Democrat Nay
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Not Voting
Robert F. Martwick Democrat Yea
Robyn Gabel Democrat Yea
Sara Feigenholtz Democrat Yea
Stephanie A. Kifowit Democrat Nay
Sue Scherer Democrat Nay
William "Will" Davis Democrat Yea
Brad Halbrook Republican Yea
Charles Meier Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Jil Tracy Republican Nay
Joe C. Sosnowski Republican Nay
John M. Cabello Republican Nay
Norine K. Hammond Republican Nay
Wayne A. Rosenthal Republican Nay

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 2620 do?
Amends the General Provisions Article of the Illinois Pension Code. In a Section requiring the use of a competitive selection process for obtaining investment services, creates an additional exception for "contracts for follow-on funds with the same fund sponsor through closed-end funds". Effective immediately.
Who sponsors HB 2620?
HB 2620 is sponsored by Al Riley.
What is the current status of HB 2620?
This bill has been enacted into law. Introduced February 21, 2013. Enacted.
Where can I track HB 2620?
Track HB 2620 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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