Illinois House Bill 1605 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions Article of the Illinois Pension Code. By no later than December 31, 2020, requires every pension fund, except for a Downstate Police or Downstate Firefighter fund, to develop a climate change risk minimization policy. Provides that the policy shall consider the financial risk to the investments held by the pension fund in the event of different levels of climate change, as defined by the United Nations Framework Convention on Climate Change. Requires the policy to explain what sources of data, which must include specified sources, were used to make certain projections. Requires the policy to consider the scope of the financial risk of climate-related events. Authorizes the pension fund to determine a policy for all corporate equities held by the pension fund on voting for shareholder resolutions and directors to advance corporate policies that minimize the long-term risk to the pension fund's assets from increased climate change. Requires the policy to be updated annually and published on the pension fund's website. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PEN CD-CLIMATE CHANGE POLICY

Rep. Camille Lilly [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-03-12	House	Assigned to Personnel & Pensions Committee
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-02-21	House	To Miscellaneous Issues Subcommittee
2019-02-13	House	Assigned to Personnel & Pensions Committee
2019-02-01	House	Referred to Rules Committee
2019-02-01	House	First Reading
2019-01-30	House	Filed with the Clerk by Rep. Camille Y. Lilly

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.43	New Code	See Bill Text
40	5	1-113.65	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1605&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB1605.htm