MURPHY-SCHOENBERG-BIGGINS, STROGER, YOUNGE AND JONES,LOU. (MADIGAN,R) 40 ILCS 5/1-116 from Ch. 108 1/2, par. 1-116 40 ILCS 5/1-118 new 40 ILCS 5/15-167 from Ch. 108 1/2, par. 15-167 40 ILCS 5/16-179 from Ch. 108 1/2, par. 16-179 40 ILCS 5/17-146 from Ch. 108 1/2, par. 17-146 40 ILCS 5/17-146.1 from Ch. 108 1/2, par. 17-146.1 40 ILCS 5/22A-112 from Ch. 108 1/2, par. 22A-112 40 ILCS 5/22A-114 from Ch. 108 1/2, par. 22A-114 Amends the Illinois Pension Code. Amends the General Provisions Article to make the provisions relating to federal limitations under Section 415 of the U.S. Internal Revenue Code apply to all retirement systems subject to the Pension Code. Permits each retirement system to define its own Section 415 limitation year. Requires all public employee pension funds to comply with the requirements imposed on them by the federal Uniformed Services Employment and Reemployment Rights Act. Amends the State Board of Investment Article, the State Universities Article, and the Downstate and Chicago Teacher Articles to require that investments be carried at cost or a value determined in accordance with generally accepted accounting principles. Also removes the 50% investment limitation on equity investments by the Chicago Teachers pension fund. Amends the State Board of Investment Article to remove the requirement that a bank or trust company used for the registration of securities be domiciled in Illinois. Effective immediately. PENSION IMPACT NOTE HB366 contains administrative changes that would have no fiscal impact on the retirement systems affected by its provisions. PENSION IMPACT NOTE, ENGROSSED No change from previous note. 97-01-30 H FILED WITH CLERK 97-01-30 H FIRST READING 97-01-30 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-05 H ASSIGNED TO COMMITTEE PERS PENSION 97-02-10 H PENSION NOTE FILED 97-02-10 H COMMITTEE PERS PENSION 97-02-20 H DO PASS/SHORT DEBATE 011-000-000 HPPN 97-02-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-02-20 H SECOND READING-SHORT DEBATE 97-02-20 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-02-26 H ADDED AS A JOINT SPONSOR SCHOENBERG 97-02-26 H ADDED AS A CO-SPONSOR BIGGINS 97-02-26 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 97-02-27 S ARRIVE IN SENATE 97-02-27 S PLACED CALENDAR ORDER OF FIRST READING 97-02-28 97-02-28 H ADDED AS A CO-SPONSOR STROGER 97-02-28 H ADDED AS A CO-SPONSOR YOUNGE 97-02-28 H ADDED AS A CO-SPONSOR JONES,LOU 97-03-04 S SENATE SPONSOR MADIGAN 97-03-05 S FIRST READING 97-03-05 S REFERRED TO SENATE RULES COMMITTEE RULES 97-03-20 S ASSIGNED TO COMMITTEE INS & PENS. 97-04-14 S PENSION NOTE FILED AS ENGROSSED 97-04-29 S DO PASS 009-000-000 SINS 97-04-29 S PLACED ON CALENDAR ORDER OF 2ND READING 97-04-30 97-04-30 S SECOND READING 97-04-30 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-01 97-05-08 S THIRD READING - PASSED 057-000-000 97-05-08 H PASSED BOTH HOUSES 97-06-06 H SENT TO THE GOVERNOR 97-06-20 H GOVERNOR APPROVED 97-06-20 H EFFECTIVE DATE 97-06-20 97-06-20 H PUBLIC ACT.............................. 90-0019 END OF INQUIRY Full Text Bill Summary