HB 5495

  • Illinois House Bill
  • 97th Regular Session
  • Introduced in House Jan 04, 2013
  • Passed House Mar 29, 2012
  • Passed Senate Jan 03, 2013
  • Became Law Jan 25, 2013

Defined Contrib Plans-Prudence

Abstract

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.

Bill Sponsors (1)

Votes


Actions


Jan 25, 2013

House

Public Act . . . . . . . . . 97-1154

House

Effective Date January 25, 2013

House

Governor Approved

Jan 11, 2013

House

Sent to the Governor

Jan 08, 2013

House

Senate Floor Amendment No. 5 House Concurs 080-030-001

House

Passed Both Houses

House

House Concurs

House

Senate Committee Amendment No. 1 House Concurs 080-030-001

Jan 06, 2013

House

Senate Committee Amendment No. 1 Motion Filed Concur Rep. Elaine Nekritz

House

Senate Floor Amendment No. 5 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000

House

Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000

House

Senate Floor Amendment No. 5 Motion to Concur Referred to Rules Committee

House

Senate Floor Amendment No. 5 Motion Filed Concur Rep. Elaine Nekritz

House

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

House

Chief Sponsor Changed to Rep. Elaine Nekritz

Jan 04, 2013

House

Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 5

House

Chief Sponsor Changed to Rep. John E. Bradley

House

Arrived in House

Jan 03, 2013

Senate

Third Reading - Passed; 037-015-000

Senate

Placed on Calendar Order of 3rd Reading

Senate

Senate Floor Amendment No. 5 Adopted; Garrett

Senate

Senate Floor Amendment No. 4 Withdrawn by Sen. Don Harmon

Senate

Senate Floor Amendment No. 3 Withdrawn by Sen. Don Harmon

Senate

Senate Floor Amendment No. 2 Withdrawn by Sen. Don Harmon

Senate

Recalled to Second Reading

Senate

Alternate Chief Sponsor Changed to Sen. Susan Garrett

Senate

Senate Floor Amendment No. 5 Recommend Do Adopt Revenue; 006-003-000

Jan 02, 2013

Senate

Rule 2-10 Third Reading Deadline Established As January 8, 2013

Senate

Senate Floor Amendment No. 4 Be Approved for Consideration Assignments

Senate

Senate Floor Amendment No. 3 Be Approved for Consideration Assignments

Senate

Senate Floor Amendment No. 2 Be Approved for Consideration Assignments

Senate

Senate Floor Amendment No. 5 Assignments Refers to Revenue

Senate

Senate Floor Amendment No. 5 Referred to Assignments

Senate

Senate Floor Amendment No. 5 Filed with Secretary by Sen. Susan Garrett

Senate

Placed on Calendar Order of 3rd Reading January 3, 2013

Senate

Approved for Consideration Assignments

Jul 01, 2012

Senate

Senate Floor Amendment No. 2 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).

Senate

Pursuant to Senate Rule 3-9(b) / Referred to Assignments

Senate

Senate Floor Amendment No. 4 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).

Senate

Senate Floor Amendment No. 3 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).

May 31, 2012

Senate

Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 011-002-000

Senate

Senate Floor Amendment No. 2 Recommend Do Adopt Executive; 011-002-000

Senate

Senate Floor Amendment No. 4 Recommend Do Adopt Executive; 011-002-000

Senate

Senate Floor Amendment No. 4 Assignments Refers to Executive

May 30, 2012

Senate

Senate Floor Amendment No. 4 Filed with Secretary by Sen. Don Harmon

Senate

Senate Floor Amendment No. 3 Filed with Secretary by Sen. Don Harmon

Senate

Senate Floor Amendment No. 2 Assignments Refers to Executive

Senate

Senate Floor Amendment No. 2 Assignments Refers to Assignments

Senate

Senate Floor Amendment No. 3 Assignments Refers to Executive

Senate

Senate Floor Amendment No. 4 Referred to Assignments

Senate

Senate Floor Amendment No. 3 Referred to Assignments

May 25, 2012

Senate

Rule 2-10 Third Reading Deadline Established As May 31, 2012

May 23, 2012

Senate

Senate Floor Amendment No. 2 Postponed - Pensions and Investments

May 22, 2012

Senate

Senate Floor Amendment No. 2 Assignments Refers to Pensions and Investments

Senate

Senate Floor Amendment No. 2 Referred to Assignments

Senate

Senate Floor Amendment No. 2 Filed with Secretary by Sen. Don Harmon

May 18, 2012

Senate

Second Reading

Senate

Placed on Calendar Order of 3rd Reading May 21, 2012

May 16, 2012

Senate

Senate Committee Amendment No. 1 Adopted

Senate

Placed on Calendar Order of 2nd Reading May 17, 2012

Senate

Do Pass as Amended Pensions and Investments; 007-002-000

May 15, 2012

Senate

Senate Committee Amendment No. 1 Assignments Refers to Pensions and Investments

May 10, 2012

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon

May 09, 2012

Senate

Held in Pensions and Investments

May 07, 2012

Senate

Alternate Chief Sponsor Changed to Sen. Don Harmon

May 04, 2012

Senate

Rule 2-10 Committee Deadline Established As May 25, 2012

May 02, 2012

Senate

Postponed - Pensions and Investments

Apr 18, 2012

Senate

Held in Pensions and Investments

Apr 11, 2012

Senate

Assigned to Pensions and Investments

Mar 30, 2012

Senate

Placed on Calendar Order of First Reading

Senate

Referred to Assignments

Senate

First Reading

Senate

Chief Senate Sponsor Sen. Susan Garrett

Senate

Arrive in Senate

Mar 29, 2012

House

Added Co-Sponsor Rep. Sidney H. Mathias

House

Third Reading - Short Debate - Passed 109-000-000

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Fiscal Note Filed

Mar 28, 2012

House

State Mandates Fiscal Note Filed

House

Fiscal Note Filed

House

Home Rule Note Filed

Mar 27, 2012

House

Added Co-Sponsor Rep. Karen May

House

Home Rule Note Requested by Rep. Ed Sullivan, Jr.

House

State Mandates Fiscal Note Requested by Rep. Ed Sullivan, Jr.

House

Fiscal Note Requested by Rep. Ed Sullivan, Jr.

House

Held on Calendar Order of Second Reading - Short Debate

House

Second Reading - Short Debate

Mar 26, 2012

House

Added Co-Sponsor Rep. Lou Lang

Mar 22, 2012

House

Added Chief Co-Sponsor Rep. Jack D. Franks

House

Remove Chief Co-Sponsor Rep. Linda Chapa LaVia

House

Remove Chief Co-Sponsor Rep. Carol A. Sente

House

Remove Chief Co-Sponsor Rep. Keith Farnham

House

Remove Chief Co-Sponsor Rep. Jack D. Franks

House

Added Chief Co-Sponsor Rep. Linda Chapa LaVia

House

Added Chief Co-Sponsor Rep. Carol A. Sente

House

Added Chief Co-Sponsor Rep. Keith Farnham

Mar 09, 2012

House

Placed on Calendar 2nd Reading - Short Debate

Mar 08, 2012

House

Do Pass / Short Debate Personnel and Pensions Committee; 008-000-000

Feb 27, 2012

House

Assigned to Personnel and Pensions Committee

Feb 15, 2012

House

Referred to Rules Committee

House

First Reading

Feb 10, 2012

House

Filed with the Clerk by Rep. Elaine Nekritz

Bill Text

Bill Text Versions Format
Introduced HTML
Engrossed HTML
Enrolled HTML

Related Documents

Document Format
Public Act
Senate Amendment 005
Senate Amendment 004
Senate Amendment 003
Senate Amendment 002
Senate Amendment 001

Sources

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