State lawmakers pass measure limiting state investment in Russian assets
By PETER HANCOCK
Capitol News Illinois
phancock@capitolnewsillinois.com
SPRINGFIELD – The Illinois House gave final passage Wednesday to a bill aimed at prohibiting state investment in assets tied to Russia and Belarus in retaliation for their participation in the war in Ukraine.
House Bill 1293, by Rep. Lindsey LaPointe, D-Chicago, urges the state’s five retirement systems to divest their holdings in companies domiciled in either of those countries as well as their sovereign debt, and prohibits them from making new investments there.
“We can’t sit back and just wait for the war in Ukraine to be over,” LaPointe said during debate on the House floor. “We in Illinois have to do everything we can … to make sure we’re doing our part to call out Russia and to end this war.”
Russia invaded Ukraine on Feb. 24 and at times has used Belarus, with that government’s permission, as a staging ground for incursions from the north.
As of Nov. 7, the war had resulted in an estimated 6,490 civilian deaths, with another 9,972 civilians injured, according to the United Nations High Commissioner for Human Rights. Millions more have been displaced from their homes or fled the country.
The bill urges, but does not explicitly require, all state pension funds and retirement systems “to divest their holdings in any companies that are domiciled in Russia or Belarus” while also urging all Illinois municipalities to reconsider any sister-city relationships they may have with cities in Russia.
A spokesman for the Illinois Teachers Retirement System, the state’s largest pension fund, said in an email that the system’s total exposure in Russian assets is only about $4.27 million, or 0.007 percent of the fund’s total portfolio. It has no investments in Belarus.
Public colleges and universities would also be required to disclose to the Board of Higher Education any endowment or other donation they receive from a source associated with any individual or entity listed on the U.S. Treasury Department’s list of sanctioned entities or from any company that is domiciled in or has its principal place of business in Russia or Belarus.
The bill also urges the U.S. State Department to resettle Ukrainian refugees in Illinois while giving the Illinois Department of Human Services authority to adopt emergency rules to ensure availability of refugee resettlement services.
Additionally, the bill seeks to prevent Russian meddling in Illinois elections ahead of the 2024 races by creating an Elections and Infrastructure Integrity Task Force to prepare for and prevent foreign interference in elections.
Finally, the bill seeks to stem the flow of illicit money from Russian and other sources into the Illinois real estate market by creating a Money Laundering in Real Estate Task Force to identify vulnerabilities in the real estate sector that facilitate money laundering.
The bill initially passed the House by a unanimous vote in April, just weeks after the Russian invasion of Ukraine, but it did not pass out of the Senate due to the General Assembly’s abbreviated schedule last spring.
The Senate did take up the bill during the first week of the veto session and made some minor amendments before passing it 50-0 and sending it back to the House. The House on Wednesday accepted the Senate changes and passed it, 109-0.
Although no one spoke against the bill, Rep. Blaine Wilhour, R-Beecher City, said he would like to see similar legislation calling for divestment from companies tied to the Chinese Communist Party.
“Russia is a bad actor, nobody’s arguing that, but China’s worse,” Wilhour said. “I just ask that we hold China, who has, along with many in our government and many in our corporations, taken advantages of American workers for decades. And they’re a far more powerful adversary. We need to hold them to the same standards that we’re doing here with Russia.”
Capitol News Illinois is a nonprofit, nonpartisan news service covering state government. It is distributed to more than 400 newspapers statewide, as well as hundreds of radio and TV stations. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.
Local News
Lions Club District 1A Helen Keller race draws big field
Spread the loveBy Kelly White The damp weather from overnight rain did not deter more than 100 people on Sunday morning from getting some exercise. The 14th annual District 1A Helen Keller 5k Fun Run/Walk proudly took place along at Harold L. Richard’s High School, 10601 Central Ave., Oak Lawn. “This is a really great…
EPCHS students collect shoes for Christmas Without Cancer Sneaker Drive
Spread the loveFrom staff reports Students in Evergreen Park Community High School’s junior physical education leadership class teamed up with the non-profit organization Christmas Without Cancer to help local families battling the devastation of cancer. The class – taught by EPCHS physical education teacher Ree McDonald – helped gather donations for Christmas Without Cancer’s second…
Swallow Cliff Chapter, NSDAR, honors JROTC cadets
Spread the loveFrom staff reports Swallow Cliff Chapter, National Society Daughters of the American Revolution, participated in recent JROTC awards ceremonies held at Shepard High School in Palos Heights and Richards High School in Oak Lawn. The DAR JROTC award, consisting of a medal and certificate, was presented to Navy Cadet Emily Schrode at Richards…
Man charged with child abduction in Stickney Township
Spread the loveFrom staff reports A Chicago man was charged last week with child abduction and luring of a minor after Cook County Sheriff’s Police detectives found he attempted to lure a minor into his vehicle, said Cook County Sheriff Thomas J. Dart. According to police, about 4:43 p.m. on Monday, April 22, officers responded…
Worth Library celebrates 60th anniversary
Spread the loveBy Kelly White The Worth Public Library has been around for decades. Resting in the heart of the village at 6917 W. 111th St., the library held an event focusing on its rich background story on April 23 with a historical photo exhibit. “It’s amazing because this library is still so important to…
Rose Zubik, Woman’s Club veteran, installed as 3rd District president
Spread the love Rose Zubik, of Palos Heights, the new president of the 3rd District General Federation of Women’s Clubs-Illinois, lights a candle during the installation ceremony held April 27 at Fox’s Restaurant in Orland Park. Heather Linehan, the outgoing president, is beside her.By Dermot Connolly A longtime member of the Palos Heights Woman’s Club…
Shots fired in Chicago Ridge Commons parking lot
Spread the loveFrom staff reports Shots were fired Wednesday night in the parking lot at Chicago Ridge Commons mall. Police said they received reports of the shooting about 9:45 p.m. No injuries were reported. Multiple witnesses told police four men were walking through the parking lot from the XSport Fitness area. They approached two vehicles…
Hair salon with a ‘flair’ marks first year in Chicago Ridge
Spread the loveBy Joe Boyle Melissa Kowalski wanted to do something meaningful to mark the first-year anniversary of her Flair With Hair Salon in Chicago Ridge. “We did not have a grand opening last year so I wanted to do something really special,” Kowalski said. “We wanted to say thank you to our clients.” Kowalski,…
Palos East fifth-grader wins Scholastic Storyworks writing contest
Spread the loveGabriel Chowaniec, a fifth-grader at Palos East Elementary School, has been named a winner of the Scholastic Storyworks Magazine writing contest. Gabriel, who is a student in Cathy Casey’s fifth-grade classroom, was named one of only five winners nationally for the December 2023/January 2024 competition. Garbriel’s submission for the nonfiction story “The Shattered Land,” “showed a strong understanding of the text along with the ability to author a well-organized…
Shepard celebrates Autism Week
Spread the loveBy Kelly White World Autism Acceptance Week is organized by the National Autistic Society in the first week of April and aims to raise awareness about the challenges autistic people face across all areas of society. Not missing out the opportunity to celebrate all-inclusion was Shepard High School, 13049 S. Ridgeland Ave., Palos…
Neighbors
Palos Heights recognizes volunteers
Spread the loveBy Nuha Abdessalam Palos Heights handed out awards last week recognizing the services provided by volunteers through the years. The proclamations, which were read aloud during the city council meeting April 16, were a testament to the city’s volunteers and were handed out as part of Volunteer Recognition Week. Volunteers were cited for…
Boys Volleyball | Richards weathering struggles after run of success
Spread the loveBy Xavier Sanchez Correspondent After a tough weekend at the Smack Attack tournament, Richards got back into the win column with a two-set victory over Eisenhower in a South Suburban Red match. The Bulldogs made quick work of the Cardinals, winning 25-16, 25-15 on April 23 in Oak Lawn to snap a five-match…
SD218 puts on annual Arts Extravaganza
Spread the loveBy Kelly White The arts have become a major portion of the curriculum Community High School District 218. Showcasing those many talents, the Friends of CHSD 218’s Education Foundation proudly hosted its 15th annual Arts Extravaganza on April 5 at Eisenhower High School in Blue Island. “The Arts Extravaganza is a great event…
Gaming licenses to be tougher to get in Orland Park
Spread the loveBy Jeff Vorva It’s going to take longer to receive gaming licenses in Orland Park. The village board passed an ordinance April 15 that would allow table service businesses open at least 36 consecutive months to apply rather than the previous 18 months, and extended the probationary period to 18 months instead of…
Palos Park passes $16 million budget
Spread the loveBy Jeff Vorva The Palos Park Village Council approved the 2024-25 budget, which totals a little more than $16.3 million at the April 22 village council meeting. According to village documents, it represented an increase of a shade over $603,000 from last year. The village is expecting $13.4 million in revenue and $1.86…
Fire damages Al Bahaar Restaurant in Orland Park
Spread the loveFrom staff reports Orland Fire Protection District firefighters responded to a fire Monday evening at the Al Bahaar Restaurant, 39 Orland Square Dr. At first, restaurant owners suspected the fire alarm was triggered by a malfunction, but as firefighters inspected the restaurant to reset the fire alarm, they detected a burning smell. “What…
Year of growth | Evergreen Park enjoying inaugural boys volleyball season
Spread the loveBy Xavier Sanchez Correspondent After almost 70 years of existence as a high school, Evergreen Park finally has a boys volleyball team. The Mustangs are playing their inaugural season with a junior varsity squad, with some matches being played at the varsity level. Head coach Brian Zofkie is leading this group with assistant…
‘Brazen and cowardly’: Police, community outraged by officer’s slaying
Spread the love. By Tim Hadac Police and others across the Southwest Side reacted with outrage this week over the slaying of a Chicago Police officer in the early morning hours on Sunday. Officer Luis M. Huesca was shot to death on the street in the 3100 block of West 56th Street at 2:53 a.m.…