<?xml version='1.0' encoding='UTF-8'?>
<xml>
<title>Illinois General Assembly - Bill Status for HB 4497   </title>
<shortdesc>ILLINOIS AUTOMATIC IRA ACT</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Deborah Mell-Kimberly du Buclet</sponsors>
</sponsor>
<lastaction>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>New Act</reference><aliasreference></aliasreference><SynopsisText>     Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.</SynopsisText></synopsis>
<actions>
<statusdate>1/31/2012</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Carol A. Sente</action>
<statusdate>1/31/2012</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>1/31/2012</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Chief Sponsor Changed to Rep. Deborah Mell</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Carol A. Sente</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Added Chief Co-Sponsor Rep. Kimberly du Buclet</action>
<statusdate>2/8/2012</statusdate><chamber>House</chamber><action>Remove Chief Co-Sponsor Rep. Carol A. Sente</action>
<statusdate>2/27/2012</statusdate><chamber>House</chamber><action>Assigned to State Government Administration Committee</action>
<statusdate>3/9/2012</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/8/2013</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

