Bill Sponsor
Illinois House Bill 2782
Session 103rd
Sustainability Disclosures
Became Law
Became Law
Became Law on Jul 28, 2023
Sponsors
Democrat
Ann M. Williams
Democrat
Ram Villivalam
First Action
Feb 16, 2023
Latest Action
Jul 28, 2023
Origin Chamber
House
Type
Bill
Bill Number
2782
State
Illinois
Session
103rd
Sponsorship by Party
House Votes (1)
Senate Votes (1)
checkPassed on March 23, 2023
Motion Text
Third Reading
House Roll Call Votes
Summary
Amends the Illinois Sustainable Investing Act. Provides that, effective January 1, 2024, every investment manager shall comply with annual disclosure requirements that will require the investment manager to provide a description of the process through which the manager prudently integrates sustainability factors into its investment decision-making, investment analysis, portfolio construction, due diligence, and investment ownership in order to maximize anticipated financial returns, identify and minimize projected risk, and execute its fiduciary duties more effectively. Provides that the investment manager shall provide the annual disclosure to each public agency, pension fund, retirement system, or governmental unit for whom the investment manager is acting as a fiduciary or seeking selection as a fiduciary prior to acting in this capacity and at least annually thereafter. Provides that annual disclosures shall be submitted by January 31st of every year after the effective date of the amendatory Act. Defines "investment manager". House Floor Amendment No. 1 Removes the requirement that annual disclosures shall be submitted by January 31st of every year. Makes technical changes in the provision concerning annual disclosures.
Sources
Record Created
Feb 17, 2023 8:21:27 AM
Record Updated
Apr 12, 2024 4:17:09 AM