Illinois General Assembly - Bill Status for SB3638
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 Bill Status of SB3638  100th General Assembly


Senate Sponsors
Sen. Iris Y. Martinez

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-109.1from Ch. 108 1/2, par. 1-109.1
40 ILCS 5/1-113.14

Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. Provides that "emerging investment manager" means a qualified investment adviser that manages an investment portfolio of at least $10,000,000 but less than $10,000,000,000 at the time of the initial contract with the retirement system, pension fund, or investment board (rather than at least $10,000,000 but less than $10,000,000,000) and is a minority-owned business, women-owned business, or business owned by a person with a disability. In a provision requiring a competitive process for awarding investment contracts, adds an exclusion for contracts for investment services with an emerging investment manager. Effective immediately.

DateChamber Action
  11/7/2018SenateFiled with Secretary by Sen. Iris Y. Martinez
  11/7/2018SenateFirst Reading
  11/7/2018SenateReferred to Assignments
  1/9/2019SenateSession Sine Die

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