Bill > HB2723

This bill amends the Illinois Pension Code by removing provisions that previously required the Illinois Investment Policy Board to include companies that boycott Israel in its list of restricted companies. The bill eliminates the definition of "Boycott Israel" and removes references to such companies from various sections of the existing law. The legislation maintains other existing restrictions on investments, such as those related to companies doing business in Iran, Sudan, Russia, Belarus, or those contracting to shelter migrant children. The bill continues to require the Illinois Investment Policy Board to identify and list restricted companies, provide notifications, and guide retirement systems in divesting from or engaging with these companies. The changes appear to narrow the scope of investment restrictions while maintaining a framework for the Illinois Investment Policy Board to monitor and manage investments in companies deemed problematic based on specific criteria. The bill becomes effective immediately upon enactment.