DIVEST PRIVATE PRISONS
Sponsored By: Kevin John Olickal (Democratic)
In Committee
Summary
Amends the General Provisions Article of the Illinois Pension Code. Requires the Illinois Investment Policy Board to make its best efforts to identify all for-profit companies that contract to shelter incarcerated or detained persons and to 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. Provides that an exception to divestment requirements for investments that are equal to or less than 0.5% of the market value of all assets under management by the retirement does not apply to investments in for-profit companies that contract to shelter incarcerated or detained persons. Makes conforming changes. Amends the Public Funds Investment Act. Provides that a municipality with a population of 500,000 or more or a county with a population of 3,000,000 or more shall not invest public funds in an investment instrument issued by for-profit companies that contract to shelter incarcerated or detained persons. Requires such a municipality or county to instruct its investment advisors to sell, redeem, divest, or withdraw all holdings of a for-profit company that enters into a contract to shelter incarcerated or detained persons from the local government's assets under management in an orderly and fiduciarily responsible manner within 12 months after the company's most recent appearance on the list of restricted companies published by the Illinois Investment Policy Board. Effective immediately.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Kevin John Olickal
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAssigned to Personnel & Pensions Committee
3/12/2026HouseReferred to Rules Committee
2/6/2026HouseFirst Reading
2/6/2026HouseFiled with the Clerk by Rep. Kevin John Olickal
2/3/2026House
Bill Text
Introduced
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