HB1293 Summary

• Urges Illinois pension funds to divest from companies domiciled in Russia or Belarus, and calls on municipalities to reconsider sister-city relationships with Russian cities in response to Russia's invasion of Ukraine.

• Creates a Money Laundering in Real Estate Task Force to identify vulnerabilities in real estate transactions that facilitate money laundering, with particular focus on exposure to illicit Russian money; Task Force dissolves January 1, 2025.

• Prohibits the State Treasurer and public agencies from investing in Russian or Belarusian sovereign debt, government-backed securities, entities domiciled in those countries, or companies subject to Russian sanctions.

• Creates an Illinois Elections and Infrastructure Integrity Task Force to evaluate and recommend measures to prevent foreign interference in elections and cyberattacks on state infrastructure before the 2024 election; Task Force dissolves June 1, 2025.

• Authorizes the Department of Human Services to adopt emergency rules for refugee resettlement programs in response to large-scale resettlement events and requires public universities to disclose donations from Russian, Belarusian, or sanctioned sources.