HB0199 Summary

• Amends the Illinois Pension Code to designate Ford Motor Company and its subsidiaries as "restricted companies" alongside companies that boycott Israel, Iran-restricted companies, Sudan-restricted companies, and expatriated entities.

• Requires the Illinois Investment Policy Board to identify all Ford Motor Company subsidiaries by July 1, 2020, and include them in the restricted companies list distributed to retirement systems.

• Mandates retirement systems divest from direct holdings in Ford Motor Company within 12 months of the company appearing on the restricted list and prohibits future acquisitions of Ford securities.

• Exempts retirement systems from fiduciary duties and conflicting statutory obligations when implementing divestment actions under this Section.

• Establishes that retirement systems may cease divestment efforts if restricted company investments fall below 0.5% of total assets under management, with advance written notice to the Illinois Investment Policy Board.