Illinois General Assembly - Bill Status for SB2420
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 Bill Status of SB2420  99th General Assembly

Short Description:  SECURE CHOICE INVEST POLICY

Senate Sponsors
Sen. Daniel Biss

House Sponsors
(Rep. Barbara Flynn Currie)

Last Action
DateChamber Action
  7/15/2016SenatePublic Act . . . . . . . . . 99-0571

Statutes Amended In Order of Appearance
820 ILCS 80/30
820 ILCS 80/35
820 ILCS 80/60


Synopsis As Introduced
Amends the Illinois Secure Choice Savings Program Act. Provides that the total annual expenses, rather than the annual administrative expenses, shall not exceed 0.75% of the total trust balance. Removes a requirement that the Board prepare a statement of investment policy annually. Provides that the investment policy shall be published on the Board's or State Treasurer's website. Provides that small employers' use of automatic enrollment is subject to federal rules. Makes other changes. Effective immediately.

Senate Floor Amendment No. 1
Adds reference to:
35 ILCS 5/917from Ch. 120, par. 9-917
820 ILCS 405/1900from Ch. 48, par. 640

Adds provisions amending the Illinois Income Tax Act and the Unemployment Insurance Act. Provides that information may be shared among the State Treasurer's Office, the Department of Revenue, and the Department of Employment Security for purposes of facilitating compliance with and administering the Illinois Secure Choice Savings Program Act.

Actions 
DateChamber Action
  2/9/2016SenateFiled with Secretary by Sen. Daniel Biss
  2/9/2016SenateFirst Reading
  2/9/2016SenateReferred to Assignments
  2/17/2016SenateAssigned to Executive
  3/2/2016SenateDo Pass Executive; 012-003-000
  3/2/2016SenatePlaced on Calendar Order of 2nd Reading March 3, 2016
  3/3/2016SenateSecond Reading
  3/3/2016SenatePlaced on Calendar Order of 3rd Reading March 8, 2016
  4/12/2016SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Daniel Biss
  4/12/2016SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/13/2016SenateSenate Floor Amendment No. 1 Assignments Refers to Executive
  4/14/2016SenateSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 012-000-000
  4/19/2016SenateRecalled to Second Reading
  4/19/2016SenateSenate Floor Amendment No. 1 Adopted; Biss
  4/19/2016SenatePlaced on Calendar Order of 3rd Reading
  4/19/2016SenateThird Reading - Passed; 052-000-000
  4/20/2016HouseArrived in House
  4/20/2016HouseChief House Sponsor Rep. Barbara Flynn Currie
  4/20/2016HouseFirst Reading
  4/20/2016HouseReferred to Rules Committee
  4/26/2016HouseAssigned to Revenue & Finance Committee
  4/27/2016HouseTo Income Tax Subcommittee
  5/5/2016HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
  5/5/2016HouseRemains in Revenue & Finance Committee
  5/5/2016HouseDo Pass / Short Debate Revenue & Finance Committee; 010-000-000
  5/5/2016HousePlaced on Calendar 2nd Reading - Short Debate
  5/10/2016HouseSecond Reading - Short Debate
  5/10/2016HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/11/2016HouseThird Reading - Short Debate - Passed 113-000-000
  5/11/2016SenatePassed Both Houses
  6/9/2016SenateSent to the Governor
  7/15/2016SenateGovernor Approved
  7/15/2016SenateEffective Date July 15, 2016
  7/15/2016SenatePublic Act . . . . . . . . . 99-0571

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