Bill Status of HB 1155   104th General Assembly

Short Description:  U OF I-FOSSIL FUEL DIVESTMENT

House Sponsors
Rep. Will Guzzardi-Carol Ammons, Lindsey LaPointe, Joyce Mason, Abdelnasser Rashid, Barbara Hernandez, Laura Faver Dias, Anne Stava-Murray, Nabeela Syed, Diane Blair-Sherlock, Dagmara Avelar, Maura Hirschauer, Edgar González, Jr. and Ann M. Williams

Last Action  View All Actions

DateChamber Action
  1/9/2025HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
110 ILCS 305/195 new

Synopsis As Introduced
Amends the University of Illinois Act. Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest the assets of any endowment fund in the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Provides that this does not preclude the de minimis exposure of any funds held by the endowment fund to the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Requires the Board of Trustees to direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest in any prime commercial paper or corporate bonds issued by a fossil fuel company. Provides that, beginning one year after the effective date of the amendatory Act, the Board of Trustees, subject to an affirmative determination of prudence and in accordance with sound investment criteria and consistent with its fiduciary obligations, shall direct the University of Illinois System to ensure that any endowment fund does not have any indirect investments; defines "indirect investment". Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to adopt updates to its written investment policies, if necessary, to meet the requirements of these provisions and publish a copy of those updated policies within 90 days after the adoption of the updated policies. Effective immediately.

Actions 
DateChamber Action
  1/6/2025HousePrefiled with Clerk by Rep. Will Guzzardi
  1/9/2025HouseFirst Reading
  1/9/2025HouseReferred to Rules Committee
  1/27/2025HouseAdded Co-Sponsor Rep. Lindsey LaPointe
  2/19/2025HouseAdded Co-Sponsor Rep. Joyce Mason
  2/19/2025HouseAdded Co-Sponsor Rep. Abdelnasser Rashid
  2/19/2025HouseAdded Co-Sponsor Rep. Barbara Hernandez
  2/19/2025HouseAdded Co-Sponsor Rep. Laura Faver Dias
  2/24/2025HouseAdded Co-Sponsor Rep. Anne Stava-Murray
  2/27/2025HouseAdded Co-Sponsor Rep. Nabeela Syed
  2/27/2025HouseAdded Co-Sponsor Rep. Diane Blair-Sherlock
  3/18/2025HouseAdded Co-Sponsor Rep. Dagmara Avelar
  3/19/2025HouseAdded Co-Sponsor Rep. Maura Hirschauer
  3/20/2025HouseAdded Chief Co-Sponsor Rep. Carol Ammons
  3/28/2025HouseAdded Co-Sponsor Rep. Edgar González, Jr.
  5/1/2025HouseAdded Co-Sponsor Rep. Ann M. Williams

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