<?xml version='1.0' encoding='UTF-8'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 1672   </title>
<shortdesc>ILLINOIS AUTOMATIC IRA ACT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. William D. Burns-Carol A. Sente-Deborah Mell</sponsors>
</sponsor>
<lastaction>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>New Act</reference><aliasreference></aliasreference><SynopsisText>     Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>2/15/2011</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. William D. Burns</action>
<statusdate>2/16/2011</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/16/2011</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/22/2011</statusdate><chamber>House</chamber><action>Assigned to State Government Administration Committee</action>
<statusdate>3/3/2011</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Carol A. Sente</action>
<statusdate>3/3/2011</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Deborah Mell</action>
<statusdate>3/3/2011</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Jack McGuire</action>
<statusdate>3/9/2011</statusdate><chamber>House</chamber><action>Do Pass / Short Debate State Government Administration Committee;  009-006-000</action>
<statusdate>3/9/2011</statusdate><chamber>House</chamber><action>Placed on Calendar 2nd Reading - Short Debate</action>
<statusdate>4/6/2011</statusdate><chamber>House</chamber><action>Remove Chief Co-Sponsor Rep. Jack McGuire</action>
<statusdate>4/14/2011</statusdate><chamber>House</chamber><action>Second Reading - Short Debate</action>
<statusdate>4/14/2011</statusdate><chamber>House</chamber><action>Held on Calendar Order of Second Reading - Short Debate</action>
<statusdate>4/15/2011</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

