40 ILCS 5/1-110.17

Current through Public Act 103-1052

Section 40 ILCS 5/1-110.17 - Expiration of prohibited transactions

If, at least 4 years after the effective date of an amendatory Act that initially establishes a prohibited transaction under this Article, the Illinois Investment Policy Board concludes that divestment is no longer necessary due to achievement of the underlying goals of the amendatory Act establishing the prohibited transaction, changes in status surrounding the prohibited transactions, or other verifiable reasons, the Illinois Investment Policy Board may cease actions to require divestment, identify restricted companies, or prohibit transactions by a majority vote of the Illinois Investment Policy Board if:

(1) no less than one year prior to the change in policy, the Illinois Investment Policy Board notifies, in writing, the General Assembly of the change in policy and lists the reasons for changing the policy; and

(2) the General Assembly does not, before the change in policy, adopt a House Resolution or a Senate Resolution instructing the Illinois Investment Policy Board to not change the policy.

40 ILCS 5/1-110.17

Added by P.A. 102-0118,§ 5, eff. 7/23/2021.