HB 2460

  • Illinois House Bill
  • 101st Regular Session
  • Introduced in House May 23, 2019
  • Passed House Apr 04, 2019
  • Passed Senate May 23, 2019
  • Signed by Governor Aug 23, 2019

Sustainable Investing Act

Abstract

Creates the Illinois Sustainable Investing Act. Provides that any public agency or governmental unit shall develop, publish, and implement sustainable investment policies applicable to the management of all public funds under its control. Provides that the sustainable investment policy may be incorporated in existing investment policies developed, published, and implemented by a public agency or governmental unit. Provides that the sustainable investment policy shall include material, relevant, and decision-useful sustainability factors to be applied by the public agency or governmental unit in evaluating investment decisions. Provides that a public agency shall prudently integrate sustainability factors into its investment decision-making, investment analysis, portfolio construction, due diligence, and investment ownership in order to maximize anticipated financial returns, minimize projected risk, and more effectively execute its fiduciary duty. Specifies sustainability factors, and the ways in which such factors may be analyzed. Amends the Deposit of State Moneys Act, the Public Funds Investment Act, and the Illinois Pension Code to make changes concerning investment policy and the Illinois Sustainable Investing Act. Provides findings and purpose provisions. Defines terms. State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity) This bill does not create a State mandate. Fiscal Note (Office of the Treasurer) HB 2460 will have no fiscal impact on the State Treasurer's Office as the Treasurer's office already has a published investment policy that includes material, relevant and decision-useful sustainability factors in accordance with this legislation. HB 2460 is likely to have a positive economic impact to the State of Illinois because evaluating sustainability factors in investment decision-making minimizes risks and maximizes returns on the state's investments. House Floor Amendment No. 1 Provides that the sustainable investment policy developed under the Illinois Sustainable Investing Act shall include material, relevant, and decision-useful sustainability factors to be considered (currently, applied) by the public agency or governmental unit as one component of its overall evaluation of investment decisions. Provides that nothing in the Act prohibits a public agency or governmental unit from integrating additional factors into its investment decision-making, investment analysis, portfolio construction, due diligence, and investment ownership of public funds. Provides that the Act shall not apply to bank time deposits or bank processing services. Makes conforming changes. House Floor Amendment No. 2 Provides that sustainability factors include, among other factors, human capital factors that recognize that the workforce is an important asset to delivering long-term value, including factors such as labor practices, responsible contractor and responsible bidder policies, employee health and safety, employee engagement, diversity and inclusion, and incentives and compensation (currently, responsible contractor and responsible bidder policies are not included as human capital factors). Senate Committee Amendment No. 1 Provides that any public agency or governmental unit should (currently, shall) develop, publish, and implement sustainable investment policies applicable to the management of all public funds under its control. Provides that the sustainable investment policy should (currently, shall) include material, relevant, and decision-useful sustainability factors to be considered by the public agency or governmental unit as one component of its overall evaluation of investment decisions, which may (currently, shall) include specified items. Makes other changes concerning specified investment policies. Defines "financial institution". Makes conforming changes.

Bill Sponsors (16)

Votes


Actions


Aug 23, 2019

House

Governor Approved

House

Effective Date January 1, 2020

House

Public Act . . . . . . . . . 101-0473

Jun 27, 2019

House

Sent to the Governor

May 29, 2019

House

Passed Both Houses

House

House Concurs

House

Senate Committee Amendment No. 1 House Concurs 073-042-000

House

Added Co-Sponsor Rep. Jawaharial Williams

May 28, 2019

House

Added Co-Sponsor Rep. Elizabeth Hernandez

House

Added Chief Co-Sponsor Rep. Stephanie A. Kifowit

House

Added Co-Sponsor Rep. Natalie A. Manley

May 27, 2019

House

Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted State Government Administration Committee; 006-004-000

May 24, 2019

House

Senate Committee Amendment No. 1 Motion Filed Concur Rep. William Davis

House

Senate Committee Amendment No. 1 Motion to Concur Rules Referred to State Government Administration Committee

House

Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee

May 23, 2019

Senate

Third Reading - Passed; 037-019-000

House

Placed on Calendar Order of Concurrence Senate Amendment(s) 1

House

Arrived in House

May 20, 2019

Senate

Added as Alternate Co-Sponsor Sen. Martin A. Sandoval

May 17, 2019

Senate

Placed on Calendar Order of 3rd Reading May 20, 2019

Senate

Second Reading

May 16, 2019

Senate

Added as Alternate Co-Sponsor Sen. Cristina Castro

May 09, 2019

Senate

Added as Alternate Co-Sponsor Sen. Mattie Hunter

May 01, 2019

Senate

Senate Committee Amendment No. 1 Adopted

Senate

Added as Alternate Co-Sponsor Sen. Jacqueline Y. Collins

Senate

Placed on Calendar Order of 2nd Reading May 2, 2019

Senate

Do Pass as Amended Financial Institutions; 006-003-000

Apr 30, 2019

Senate

Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions

Apr 29, 2019

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Apr 24, 2019

Senate

Assigned to Financial Institutions

Apr 04, 2019

Senate

Chief Senate Sponsor Sen. Iris Y. Martinez

House

Recalled to Second Reading - Short Debate

House

House Floor Amendment No. 1 Adopted

House

Held on Calendar Order of Second Reading - Short Debate

House

House Floor Amendment No. 2 Adopted

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Third Reading - Short Debate - Passed 066-046-000

Senate

Arrive in Senate

Senate

Placed on Calendar Order of First Reading

Senate

First Reading

Senate

Referred to Assignments

Apr 03, 2019

House

House Floor Amendment No. 2 Recommends Be Adopted State Government Administration Committee; 007-003-000

Apr 02, 2019

House

House Floor Amendment No. 2 Rules Refers to State Government Administration Committee

Mar 29, 2019

House

House Floor Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 007-003-000

House

House Floor Amendment No. 2 Referred to Rules Committee

House

House Floor Amendment No. 2 Filed with Clerk by Rep. William Davis

Mar 28, 2019

House

Added Co-Sponsor Rep. Kelly M. Cassidy

House

Added Co-Sponsor Rep. Celina Villanueva

House

Added Co-Sponsor Rep. Theresa Mah

Mar 21, 2019

House

House Floor Amendment No. 1 Rules Refers to State Government Administration Committee

Mar 20, 2019

House

Added Co-Sponsor Rep. Jonathan Carroll

House

Added Co-Sponsor Rep. Bob Morgan

House

House Floor Amendment No. 1 Referred to Rules Committee

House

House Floor Amendment No. 1 Filed with Clerk by Rep. William Davis

House

Added Chief Co-Sponsor Rep. Debbie Meyers-Martin

Mar 19, 2019

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Second Reading - Short Debate

Mar 15, 2019

House

Fiscal Note Filed

Mar 14, 2019

House

State Mandates Fiscal Note Filed

Mar 11, 2019

House

Fiscal Note Requested by Rep. Tom Demmer

House

State Mandates Fiscal Note Requested by Rep. Tom Demmer

Mar 07, 2019

House

Placed on Calendar 2nd Reading - Short Debate

Mar 06, 2019

House

Do Pass / Short Debate State Government Administration Committee; 006-004-000

Feb 26, 2019

House

Assigned to State Government Administration Committee

Feb 13, 2019

House

First Reading

House

Referred to Rules Committee

House

Filed with the Clerk by Rep. William Davis

Bill Text

Bill Text Versions Format
Introduced HTML
Engrossed HTML
Enrolled HTML

Related Documents

Document Format
Public Act
Senate Amendment 001
House Amendment 002
House Amendment 001

Sources

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