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IL SB2462

IL SB2462
PEN CD-PROHIBITED TRANSACTIONS


summary

Introduced
02/07/2025
In Committee
02/07/2025
Crossed Over
Passed
Dead

Introduced Session

104th General Assembly

Bill Summary

Amends the General Provisions Article of the Illinois Pension Code. Removes provisions requiring the Illinois Investment Policy Board to include companies that boycott Israel in its list of restricted companies. Makes conforming changes. Effective immediately.

AI Summary

This bill amends the Illinois Pension Code to remove references to companies that boycott Israel from the state's investment restrictions. Specifically, the bill eliminates language defining "Boycott Israel" and removes provisions requiring the Illinois Investment Policy Board to identify and list companies that boycott Israel as restricted companies. The bill maintains other existing investment restrictions, including those targeting companies doing business with Iran, Sudan, Russia, Belarus, and companies that contract to shelter migrant children. The Illinois Investment Policy Board will continue to maintain a list of restricted companies based on these remaining criteria, and retirement systems will still be required to divest from or engage with companies on this list. The bill appears to be focused on narrowing the scope of investment restrictions by removing the specific prohibition on companies that boycott Israel while keeping other existing geographic and business-related investment limitations in place. The changes are effective immediately upon passage.

Sponsors (12)

Last Action

Added as Co-Sponsor Sen. Mike Simmons (on 10/03/2025)

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