HB2723

Illinois HB2723 amends the Illinois Pension Code to modify the list of restricted companies for retirement systems.

HB2723 amends the Illinois Pension Code to remove companies that boycott Israel from the list of restricted companies. It requires the Illinois Investment Policy Board to identify and list companies that boycott Israel, for-profit companies that contract to shelter migrant children, Iran-restricted companies, Sudan-restricted companies, expatriated entities, and companies subject to Russian Harmful Foreign Activities Sanctions. Retirement systems must divest from these companies, using shareholder activism if deemed more impactful.