Bill Status of SB3457  102nd General Assembly


Senate Sponsors
Sen. Martin A. Sandoval

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1-113.65 new
30 ILCS 805/8.40 new

Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. By no later than December 31, 2017, requires every pension fund, except for a Downstate Police or Downstate Firefighter fund, to develop a climate change risk minimization policy. Provides that the policy shall consider the financial risk to the investments held by the pension fund in the event of different levels of climate change, as defined by the United Nations Framework Convention on Climate Change. Requires the policy to explain what sources of data, which must include specified sources, were used to make certain projections. Requires the policy to consider the scope of the financial risk of climate-related events. Authorizes the pension fund to determine a policy for all corporate equities held by the pension fund on voting for shareholder resolutions and directors to advance corporate policies that minimize the long-term risk to the pension fund's assets from increased climate change. Requires the policy to be updated annually and published on the pension fund's website. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

DateChamber Action
  11/29/2016SenateFiled with Secretary by Sen. Martin A. Sandoval
  11/29/2016SenateFirst Reading
  11/29/2016SenateReferred to Assignments
  1/10/2017SenateSession Sine Die