---
type: "Bill"
title: "PEN CD-EMERGING INVESTMENT MGR"
description: "Amends the Illinois Pension Code. Provides that the maximum value of the investment portfolio that an emerging investment manager manages is $2,000,000,000 (was, $400,000,000). Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "94th"
identifier: "SB 253"
citation: "Illinois SB 253 (94th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 27
vote_count: 2
first_action: "2005-02-03"
last_action: "2005-08-04"
source: "openstates"
source_identifier: "ocd-bill/e46a2b62-ee97-4e23-b9ed-8023c69c942e"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=253&GAID=8&DocTypeID=SB&LegId=15538&SessionID=50&GA=94"
source_hash: "d77f1583817e52c283ac650fa184d9918d5871bfd51182121397e881572284bc"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 253 (94th) — PEN CD-EMERGING INVESTMENT MGR

Amends the Illinois Pension Code. Provides that the maximum value of the investment portfolio that an emerging investment manager manages is $2,000,000,000 (was, $400,000,000). Effective immediately.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400SB0253&GA=94&SessionId=50&DocTypeId=SB&LegID=15538&DocNum=253&GAID=8&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400SB0253eng&GA=94&SessionId=50&DocTypeId=SB&LegID=15538&DocNum=253&GAID=8&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09400SB0253enr&GA=94&SessionId=50&DocTypeId=SB&LegID=15538&DocNum=253&GAID=8&Session=&print=true)

## Votes

- Third Reading — **56–0** (pass) · upper
- Third Reading — **116–0** (pass) · lower

## Sponsors

- Emil Jones, Jr. — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2005-02-03** Filed with Secretary by Sen. Emil Jones, Jr. `filing`
- **2005-02-03** First Reading `reading-1`
- **2005-02-03** Referred to Rules `referral-committee`
- **2005-02-17** Assigned to Pensions & Investments `referral-committee`
- **2005-03-02** Do Pass Pensions & Investments; 010-000-000 `committee-passage`
- **2005-03-02** Placed on Calendar Order of 2nd Reading March 3, 2005
- **2005-03-11** Pension Note Filed from the Commission on Government Forecasting and Accountability.
- **2005-04-11** Second Reading `reading-2`
- **2005-04-11** Placed on Calendar Order of 3rd Reading April 12, 2005
- **2005-04-14** Added as Chief Co-Sponsor Sen. Martin A. Sandoval
- **2005-04-14** Third Reading - Passed; 056-000-000 `reading-3, passage`
- **2005-04-14** Arrived in House `introduction`
- **2005-04-14** Placed on Calendar Order of First Reading `reading-1`
- **2005-04-25** Chief House Sponsor Rep. Robert Rita
- **2005-04-26** First Reading `reading-1`
- **2005-04-26** Referred to Rules Committee `referral-committee`
- **2005-04-27** Assigned to Personnel and Pensions Committee `referral-committee`
- **2005-05-05** Do Pass / Short Debate Personnel and Pensions Committee; 004-000-000 `committee-passage`
- **2005-05-05** Placed on Calendar 2nd Reading - Short Debate
- **2005-05-10** Second Reading - Short Debate `reading-2`
- **2005-05-10** Placed on Calendar Order of 3rd Reading - Short Debate
- **2005-05-17** Third Reading - Short Debate - Passed 116-000-000 `reading-3, passage`
- **2005-05-17** Passed Both Houses
- **2005-06-15** Sent to the Governor `executive-receipt`
- **2005-08-04** Governor Approved `executive-signature`
- **2005-08-04** Effective Date August 4, 2005
- **2005-08-04** Public Act . . . . . . . . . 94-0471 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e46a2b62-ee97-4e23-b9ed-8023c69c942e`. Confidence: reported (aggregated from official Illinois legislature records).