HR1012 LRB093 22333 LRD 51489 r

1
HOUSE RESOLUTION

 
2     WHEREAS, It has come to the attention of the members of
3 this body that minority-owned and female-owned financial
4 services firms have not been afforded opportunities to
5 participate in the investment activities of the public pension
6 systems in Illinois; and
 
7     WHEREAS, The time is long overdue for minority-owned and
8 female-owned financial services firms to be given the same
9 consideration as other firms with regard to opportunities to do
10 business with the public pension systems in Illinois; and
 
11     WHEREAS, By State law, all of the public pensions systems
12 created under the Illinois Pension Code are encouraged to
13 recognize and report on an annual basis their utilization of
14 minority-owned and female-owned financial services firms; and
 
15     WHEREAS, The annual reports have revealed abysmal
16 performance by the public pension systems with regard to the
17 utilization of minority-owned and female-owned financial
18 services firms; therefore, be it
 
19     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
20 NINETY-THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
21 the House Task Force on Public Pension Investment is hereby
22 created to investigate the investment practices of the public
23 pension systems in Illinois with regard to each system's
24 policies and utilization of minority-owned and female-owned
25 financial services firms; and be it further
 
26     RESOLVED, That the Task Force shall conduct hearings,
27 request information, and perform all other activities
28 necessary to complete its investigation of the lack of
29 opportunities afforded to minority-owned and female-owned
30 financial services firms by the public pension systems in

 

 

HR1012 - 2 - LRB093 22333 LRD 51489 r

1 Illinois; and be it further
 
2     RESOLVED, That the Task Force shall be comprised of 13
3 members of the House of Representatives; with 7 members
4 appointed by the Speaker of the House of Representatives, one
5 of whom shall be designated as the Chairperson, and 6 members
6 appointed by the Minority Leader of the House of
7 Representatives; and be it further
 
8     RESOLVED, That the members of the Task Force shall serve
9 without compensation, but shall be reimbursed for their
10 reasonable and necessary expenses; and be it further
 
11     RESOLVED, That the Task Force shall make any
12 recommendations it deems appropriate to the House of
13 Representatives on or before January 11, 2005.