Fabio
108 lines
7.3 KiB
Markdown
108 lines
7.3 KiB
Markdown
---
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type: "Bill"
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title: "PEN CD-CHI MUNI-INVESTMENT"
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description: "Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that all contracts for investment services shall be awarded by the board of trustees using a competitive process that is substantially similar to the process required for the procurement of professional and artistic services under the Illinois Procurement Code. Provides that an exception shall be allowed for contracts for investment services with an emerging investment manager provided through a qualified manager of emerging investment managers services. Provides that based upon a written recommendation from an investment adviser providing qualified manager of emerging investment managers services for the selection or appointment of an emerging investment manager that has been providing investment services in the multimanager portfolio for at least 24 months, the board may select or appoint such emerging investment manager. Provides that all exceptions must be published on the Fund's website, which shall name the person authorizing the procurement and shall include a brief explanation of the reason for the exception. Defines terms. Amends the State Mandates Act to require implementation without reimbursement by the State."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "102nd"
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identifier: "SB 460"
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citation: "Illinois SB 460 (102nd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Lamont J. Robinson, Jr.", "Napoleon Harris, III"]
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version_count: 4
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action_count: 39
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vote_count: 1
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first_action: "2021-02-23"
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last_action: "2021-07-09"
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source: "openstates"
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source_identifier: "ocd-bill/c4740503-1582-4520-af87-09ec04d3f9dc"
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source_url: "https://ilga.gov/legislation/BillStatus.asp?DocNum=460&GAID=16&DocTypeID=SB&LegId=132794&SessionID=110&GA=102"
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source_hash: "0c0ae82ae1d41223f19cf4c2f6422843126b8dc0feb2edacba9e25d8380bd74d"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 460 (102nd) — PEN CD-CHI MUNI-INVESTMENT
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Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that all contracts for investment services shall be awarded by the board of trustees using a competitive process that is substantially similar to the process required for the procurement of professional and artistic services under the Illinois Procurement Code. Provides that an exception shall be allowed for contracts for investment services with an emerging investment manager provided through a qualified manager of emerging investment managers services. Provides that based upon a written recommendation from an investment adviser providing qualified manager of emerging investment managers services for the selection or appointment of an emerging investment manager that has been providing investment services in the multimanager portfolio for at least 24 months, the board may select or appoint such emerging investment manager. Provides that all exceptions must be published on the Fund's website, which shall name the person authorizing the procurement and shall include a brief explanation of the reason for the exception. Defines terms. Amends the State Mandates Act to require implementation without reimbursement by the State.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB0460.pdf)
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2. **Engrossed** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB0460eng.pdf)
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3. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB0460sam001.pdf)
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4. **Enrolled** (enrolled) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB0460enr.pdf)
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## Votes
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- Third Reading — **59–0** (pass) · upper
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## Sponsors
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- Lamont J. Robinson, Jr. — primary (person)
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- Napoleon Harris, III — primary (person)
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- Adriane Johnson — cosponsor (person)
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- Carol Ammons — cosponsor (person)
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- Emil Jones, III — cosponsor (person)
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- Jacqueline Y. Collins — cosponsor (person)
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- Karina Villa — cosponsor (person)
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- Patricia Van Pelt — cosponsor (person)
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- Will Guzzardi — cosponsor (person)
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- William Davis — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2021-02-23** Filed with Secretary by Sen. Napoleon Harris, III `filing`
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- **2021-02-23** First Reading `reading-1`
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- **2021-02-23** Referred to Assignments `referral-committee`
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- **2021-03-03** Assigned to Pensions `referral-committee`
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- **2021-04-08** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III `amendment-introduction`
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- **2021-04-08** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
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- **2021-04-08** Added as Chief Co-Sponsor Sen. Karina Villa
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- **2021-04-13** Senate Committee Amendment No. 1 Assignments Refers to Pensions
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- **2021-04-14** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2021-04-14** Do Pass as Amended Pensions; 009-000-000 `committee-passage`
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- **2021-04-14** Placed on Calendar Order of 2nd Reading April 15, 2021
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- **2021-04-20** Second Reading `reading-2`
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- **2021-04-20** Placed on Calendar Order of 3rd Reading April 21, 2021
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- **2021-04-20** Added as Chief Co-Sponsor Sen. Adriane Johnson
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- **2021-04-20** Added as Co-Sponsor Sen. Emil Jones, III
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- **2021-04-21** Third Reading - Passed; 059-000-000 `passage, reading-3`
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- **2021-04-21** Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
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- **2021-04-22** Arrived in House `introduction`
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- **2021-04-22** Chief House Sponsor Rep. Lamont J. Robinson, Jr.
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- **2021-04-23** First Reading `reading-1`
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- **2021-04-23** Referred to Rules Committee `referral-committee`
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- **2021-04-28** Added as Co-Sponsor Sen. Patricia Van Pelt
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- **2021-04-28** Assigned to Personnel & Pensions Committee `referral-committee`
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- **2021-05-06** Do Pass / Consent Calendar Personnel & Pensions Committee; 008-000-000 `committee-passage`
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- **2021-05-06** Placed on Calendar 2nd Reading - Consent Calendar
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- **2021-05-12** Second Reading - Consent Calendar `reading-2`
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- **2021-05-12** Held on Calendar Order of Second Reading - Consent Calendar `reading-2`
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- **2021-05-13** Placed on Calendar Order of 3rd Reading - Consent Calendar
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- **2021-05-14** Third Reading - Consent Calendar - First Day `reading-3`
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- **2021-05-14** Added Alternate Chief Co-Sponsor Rep. William Davis
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- **2021-05-14** Added Alternate Chief Co-Sponsor Rep. Carol Ammons
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- **2021-05-14** Alternate Chief Co-Sponsor Changed to Rep. William Davis
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- **2021-05-17** Added Alternate Chief Co-Sponsor Rep. Will Guzzardi
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- **2021-05-21** Third Reading - Consent Calendar - Passed 111-000-000 `passage, reading-3`
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- **2021-05-21** Passed Both Houses
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- **2021-06-17** Sent to the Governor `executive-receipt`
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- **2021-07-09** Governor Approved `executive-signature`
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- **2021-07-09** Effective Date January 1, 2022
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- **2021-07-09** Public Act . . . . . . . . . 102-0097 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/c4740503-1582-4520-af87-09ec04d3f9dc`. Confidence: reported (aggregated from official Illinois legislature records).
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