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HB1155 - 104th General Assembly
U OF I-FOSSIL FUEL DIVESTMENT
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
| Date | Chamber | Action |
|---|---|---|
| 01/06/2025 | House | Prefiled with Clerk by Rep. Will Guzzardi |
| 01/09/2025 | House | First Reading |
| 01/09/2025 | House | Referred to Rules Committee |
| 01/27/2025 | House | Added Co-Sponsor Rep. Lindsey LaPointe |
| 02/19/2025 | House | Added Co-Sponsor Rep. Joyce Mason |
| 02/19/2025 | House | Added Co-Sponsor Rep. Abdelnasser Rashid |
| 02/19/2025 | House | Added Co-Sponsor Rep. Barbara Hernandez |
| 02/19/2025 | House | Added Co-Sponsor Rep. Laura Faver Dias |
| 02/24/2025 | House | Added Co-Sponsor Rep. Anne Stava-Murray |
| 02/27/2025 | House | Added Co-Sponsor Rep. Nabeela Syed |
| 02/27/2025 | House | Added Co-Sponsor Rep. Diane Blair-Sherlock |
| 03/18/2025 | House | Added Co-Sponsor Rep. Dagmara Avelar |
| 03/19/2025 | House | Added Co-Sponsor Rep. Maura Hirschauer |
| 03/20/2025 | House | Added Chief Co-Sponsor Rep. Carol Ammons |
| 03/28/2025 | House | Added Co-Sponsor Rep. Edgar González, Jr. |
| 05/01/2025 | House | Added Co-Sponsor Rep. Ann M. Williams |