Bill Title: Amends the University of Illinois Act. Provides that the Board of Trustees shall direct the University of Illinois Foundation, in accordance with sound investment criteria and consistent with fiduciary obligations, to not invest the assets of any endowment fund in the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Provides that this does not preclude the de minimis exposure of any funds held by the endowment fund to the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Requires the Board of Trustees to direct the University of Illinois Foundation to not invest in any prime commercial paper or corporate bonds issued by a fossil fuel company. Provides that, beginning one year after the effective date of the amendatory Act, the Board of Trustees, subject to an affirmative determination of prudence and in accordance with sound investment criteria and consistent with its fiduciary obligations, shall direct the University of Illinois Foundation to ensure that any endowment fund does not have any indirect investments; defines "indirect investment". Provides that the Board of Trustees shall direct the University of Illinois Foundation to adopt updates to its written investment policies, if necessary, to meet the requirements of these provisions and publish a copy of those updated policies within 90 days after the adoption of the updated policies. Effective immediately.

Spectrum: Partisan Bill (Democrat 8-0)

Status: (Introduced - Dead) 2024-12-17 - Added Co-Sponsor Rep. Laura Faver Dias [HB5268 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Will Guzzardi [D]	Primary	Sponsored Bills	HD-039	FollowTheMoney	Ballotpedia	VoteSmart
Representative Carol Ammons [D]	Cosponsor	Sponsored Bills	HD-103	FollowTheMoney	Ballotpedia	VoteSmart
Representative Joyce Mason [D]	Cosponsor	Sponsored Bills	HD-061	FollowTheMoney	Ballotpedia	VoteSmart
Representative Norma Hernandez [D]	Cosponsor	Sponsored Bills	HD-077	FollowTheMoney	Ballotpedia	VoteSmart
Representative Abdelnasser Rashid [D]	Cosponsor	Sponsored Bills	HD-021	FollowTheMoney	Ballotpedia	VoteSmart
Representative Lindsey LaPointe [D]	Cosponsor	Sponsored Bills	HD-019	FollowTheMoney	Ballotpedia	VoteSmart
Representative Barbara Hernandez [D]	Cosponsor	Sponsored Bills	HD-050	FollowTheMoney	Ballotpedia	VoteSmart
Representative Laura Faver Dias [D]	Cosponsor	Sponsored Bills	HD-062	FollowTheMoney	Ballotpedia	VoteSmart

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