Illinois Senate Bill 2820 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on August 12 2016 - 100% progression
Action: 2016-08-12 - Public Act . . . . . . . . . 99-0793
Text: Latest bill text (Chaptered) [HTML]

Amends the Chicago Firefighter Article of the Illinois Pension Code. Authorizes the Board of Trustees of the Fund to lend securities owned by the Fund to a borrower upon such terms and conditions as may be mutually agreed upon. Requires the agreement to provide that during the period of the loan the Fund shall retain the right to receive, or collect from the borrower, all dividends, interest rights, or any distributions to which the Fund would have otherwise been entitled. Provides that the borrower shall deposit with the Fund, as collateral, cash equal to the market value of the securities at the time the loan is made and shall increase the amount of collateral if and when the Fund requests an additional amount because of subsequent increased market value of the securities. Provides that the period for which the securities may be loaned shall not exceed one year, and the loan agreement may specify earlier termination by either party upon mutually agreed conditions. Effective immediately.

PENCD-CHI FIRE-LEND SECURITIES

Sen. John Mulroe [D]

Rep. Elaine Nekritz [D]

Rep. Carol Sente [D]

2016-05-31 - Senate - Concurrence in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]
2016-05-27 - House - Third Reading in House (Y: 109 N: 0 NV: 1 Abs: 0) [PASS]
2016-04-21 - Senate - Third Reading in Senate (Y: 53 N: 0 NV: 6 Abs: 0) [PASS]

Date	Chamber	Action
2016-08-12	Senate	Public Act . . . . . . . . . 99-0793
2016-08-12	Senate	Effective Date August 12, 2016
2016-08-12	Senate	Governor Approved
2016-06-29	Senate	Sent to the Governor
2016-05-31	Senate	Passed Both Houses
2016-05-31	Senate	Senate Concurs
2016-05-31	Senate	House Floor Amendment No. 1 Senate Concurs 057-000-000
2016-05-30	Senate	House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 011-000-000
2016-05-29	Senate	House Floor Amendment No. 1 Motion to Concur Assignments Referred to Licensed Activities and Pensions
2016-05-27	Senate	House Floor Amendment No. 1 Motion to Concur Referred to Assignments
2016-05-27	Senate	House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. John G. Mulroe
2016-05-27	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 29, 2016
2016-05-27	Senate	Secretary's Desk - Concurrence House Amendment(s) 1
2016-05-27	House	Third Reading - Short Debate - Passed 109-000-000
2016-05-23	House	Placed on Calendar Order of 3rd Reading - Short Debate
2016-05-23	House	House Floor Amendment No. 1 Adopted
2016-05-19	House	Held on Calendar Order of Second Reading - Short Debate
2016-05-19	House	Second Reading - Short Debate
2016-05-19	House	House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 003-001-000
2016-05-18	House	Added Alternate Chief Co-Sponsor Rep. Carol Sente
2016-05-18	House	House Floor Amendment No. 1 Referred to Rules Committee
2016-05-18	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Elaine Nekritz
2016-05-18	House	Placed on Calendar 2nd Reading - Short Debate
2016-05-18	House	Do Pass / Short Debate Personnel and Pensions Committee; 008-000-000
2016-05-13	House	Final Action Deadline Extended-9(b) May 27, 2016
2016-05-09	House	Assigned to Personnel and Pensions Committee
2016-04-22	House	Referred to Rules Committee
2016-04-22	House	First Reading
2016-04-22	House	Chief House Sponsor Rep. Elaine Nekritz
2016-04-22	House	Arrived in House
2016-04-21	Senate	Third Reading - Passed; 053-000-001
2016-04-18	Senate	Placed on Calendar Order of 3rd Reading April 19, 2016
2016-04-18	Senate	Second Reading
2016-03-17	Senate	Placed on Calendar Order of 2nd Reading April 5, 2016
2016-03-17	Senate	Do Pass Licensed Activities and Pensions; 012-000-000
2016-03-01	Senate	Assigned to Licensed Activities and Pensions
2016-02-17	Senate	Referred to Assignments
2016-02-17	Senate	First Reading
2016-02-17	Senate	Filed with Secretary by Sen. John G. Mulroe

Chapter	Article	Section	Citation Type	Statute Text
40	5	6-183.1	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2820&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB2820.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB2820eng.htm
Text	https://www.ilga.gov/legislation/99/SB/09900SB2820enr.htm
Text	https://www.ilga.gov/legislation/publicacts/99/099-0793.htm
Amendment	https://www.ilga.gov/legislation/99/SB/09900SB2820ham001.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB2820_04212016_028000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/house/09900SB2820_05272016_006000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/99/senate/09900SB2820_05312016_032000C.pdf