IllinoisHB3961104th General Assembly (2025–2026)House

PEN CD-DIVEST FOSSIL FUELS

Sponsored By: Will Guzzardi

In Committee

Summary

Amends the General Provisions Article of the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Fossil Fuel Divestment Act. With regard to the retirement systems established under the General Assembly, State Employees, State Universities, Downstate Teachers, or Judges Article of the Code and the Illinois State Board of Investment, prohibits direct investment of any additional pension assets in the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of a fossil fuel company. Provides that each board of trustees of a pension system shall ensure the pension system does not make further indirect investments unless, upon exercising due diligence, the board of trustees is satisfied that the investment vehicle is unlikely to have more than 2% of its assets invested in fossil fuel companies. Requires pension system trustees to identify the pension system's holdings, whether directly or indirectly invested, including private investments. Requires pension system trustees to identify holdings that are invested in the stocks, securities, equities, fixed income, corporate bonds, prime commercial paper, or other obligations of fossil fuel companies. Requires pension systems to, in accordance with sound investment criteria and consistent with fiduciary obligations, divest any fossil fuel holdings, which must be completed by January 1, 2030. Requires pension systems to adopt an update to their written investment policies if necessary. Requires each pension system to disclose the analytic methods used, if any, in determining the climate-related financial risks posed by its fossil fuel investments (both publicly traded and private investments) and the results of the analysis. Sets forth provisions concerning definitions, de minimis exposure to fossil fuel securities, and annual reporting. Effective immediately.

appropriations-pensions & personnel

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Will Guzzardi

    Affiliation unavailable

Cosponsors

  • Abdelnasser Rashid

    Affiliation unavailable

  • Anna Moeller

    Affiliation unavailable

  • Anne Stava

    Affiliation unavailable

  • Camille Y. Lilly

    Affiliation unavailable

  • Carol Ammons

    Affiliation unavailable

  • Dagmara Avelar

    Affiliation unavailable

  • Hoan Huynh

    Affiliation unavailable

  • Lilian Jiménez

    Affiliation unavailable

  • Lindsey LaPointe

    Affiliation unavailable

  • Theresa Mah

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

    3/27/2026House
  2. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  3. Added Co-Sponsor Rep. Lindsey LaPointe

    3/27/2026House
  4. House Committee Amendment No. 1 Rules Refers to Appropriations-Pensions & Personnel

    3/24/2026House
  5. House Committee Amendment No. 1 Referred to Rules Committee

    3/19/2026House
  6. House Committee Amendment No. 1 Filed with Clerk by Rep. Will Guzzardi

    3/19/2026House
  7. Assigned to Appropriations-Pensions & Personnel

    2/24/2026House
  8. Added Co-Sponsor Rep. Hoan Huynh

    4/7/2025House
  9. Added Co-Sponsor Rep. Anna Moeller

    3/27/2025House
  10. Added Co-Sponsor Rep. Dagmara Avelar

    3/26/2025House
  11. Added Chief Co-Sponsor Rep. Carol Ammons

    3/7/2025House
  12. Added Co-Sponsor Rep. Abdelnasser Rashid

    3/3/2025House
  13. Added Co-Sponsor Rep. Anne Stava

    3/3/2025House
  14. Added Co-Sponsor Rep. Lilian Jiménez

    3/3/2025House
  15. Added Co-Sponsor Rep. Theresa Mah

    3/3/2025House
  16. Referred to Rules Committee

    2/25/2025House
  17. First Reading

    2/25/2025House
  18. Added Chief Co-Sponsor Rep. Camille Y. Lilly

    2/24/2025House
  19. Filed with the Clerk by Rep. Will Guzzardi

    2/21/2025House

Bill Text

  • House Amendment 1

  • Introduced

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