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HB2780

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PEN CD-PROHIBITED TRANSACTIONS

What this bill does

Amends the General Provisions Article of the Illinois Pension Code. With regard to the 5 State-funded retirement systems, provides that the following are forbidden entities for purposes of investment and certain other transactions: Hamas; any company or entity that is wholly or partially managed or controlled by Hamas; any company identified by the Office of Foreign Assets Control in the United States Department of the Treasury as sponsoring terrorist activities in conjunction with Hamas or under specified regulations pertaining to terrorism sanctions; any company that has been fined, penalized, or sanctioned by the Office of Foreign Assets Control in the United States Department of the Treasury for any violation of any United States rules and restrictions relating to Hamas that occurred at any time following the effective date of the amendatory Act; or any company that has business operations that involve contracts with or the provision of supplies or services to Hamas, companies in which Hamas has any direct or indirect equity share, or consortiums or projects commissioned by Hamas. Provides that a retirement system shall not transfer or disburse funds to, deposit into, acquire any bonds or commercial paper from, or otherwise loan to or invest in any entity unless a certifying company certifies to the retirement system that: (1) with respect to investments in a publicly traded company, the certifying company has relied on information provided by an independent researching firm that specializes in global security risk; and (2) 100% of the retirement system's assets for which the certifying company provides services or advice are not and have not been invested or reinvested in any forbidden entity at any time after 4 months after the effective date of the amendatory Act. Requires the Illinois Investment Policy Board to make its best efforts to identify all Hamas-restricted companies and include those companies in the list of restricted companies for purposes of investment distributed to each retirement system and the Illinois State Board of Investment. Makes conforming changes.

Sponsor: Martin J. Moylan Chamber: House Introduced: 2025-02-05

Stuck

P(Advance)

0.9%

Chance it ever reaches a milestone (committee, floor, etc.). Not “next step.”

P(Law)

0.0%

Chance it becomes law given where it is now (stage, momentum).

Forecast

2.7%

Low P(law) at intro — sponsor & topic only; no progress or delay.

Confidence: 99%

Calculating prediction drivers...

Pipeline Progress

Current stage: In Committee · Last action 414 days ago · STAGNANT

How does a bill become law in Illinois?

Introduction of Bill
A member of the Senate or the House introduces a bill, which is assigned a unique identifying number (e.g., "H.B. ___" for House bills and "S.B. ___" for Senate bills). If not enacted, it must be reintroduced in the next General Assembly with a new number.
Committee Work — Hearings
The bill goes to the appropriate committee, which holds hearings to gather expert opinions and determine the need for the legislation.
Committee Work — Markup, Amendments, Report
The committee may make amendments to the bill. If approved, a committee report endorsing the bill is issued.
Floor Debate
The bill is debated and can be further amended. The debate transcripts are accessible online for public viewing.
Passage and Consideration in Second Chamber
If the bill passes in the first chamber, it moves to the second chamber for a similar review process. If both chambers approve, it goes to the governor.
Gubernatorial Action
The governor can sign the bill into law, veto it, or take no action (resulting in an automatic law after 60 days). The type of veto can be total or amendatory. Once signed, the bill becomes a Public Act and is assigned a Public Act number.

Hearings

This bill has not been scheduled for a committee hearing.

Action History

11 actions recorded. Last action: 2025-02-19 — Added Co-SponsorRep. Blaine Wilhour. Each action's meaning and outcome signal are classified automatically.

2025-02-05 Introduction & Filing

Filed with the Clerk byRep. Martin J. Moylan House Rule 6(b)

Bill officially submitted to the House Clerk during the session.

2025-02-06 Introduction & Filing

First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38

Formal introduction — title read into the official record. Required procedural step; bill now exists in the system.

2025-02-06 Committee Assignment

Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a)

Sent to a committee (usually Rules in the House, Assignments in the Senate). The gatekeeping step — Rules/Assignments decides which substantive committee hears the bill.