Will Guzzardi, State Representative for 39th District (D) | https://www.facebook.com/RepGuzzardi39/
Will Guzzardi, State Representative for 39th District (D) | https://www.facebook.com/RepGuzzardi39/
According to the Illinois General Assembly site, the legislature summarized the bill's official text as follows: "Amends the University of Illinois Act. Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest the assets of any endowment fund in the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Provides that this does not preclude the de minimis exposure of any funds held by the endowment fund to the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Requires the Board of Trustees to direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest in any prime commercial paper or corporate bonds issued by a fossil fuel company. Provides that, beginning one year after the effective date of the amendatory Act, the Board of Trustees, subject to an affirmative determination of prudence and in accordance with sound investment criteria and consistent with its fiduciary obligations, shall direct the University of Illinois System to ensure that any endowment fund does not have any indirect investments; defines "indirect investment". Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to adopt updates to its written investment policies, if necessary, to meet the requirements of these provisions and publish a copy of those updated policies within 90 days after the adoption of the updated policies. Effective immediately."
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, this bill mandates the University of Illinois System to divest from fossil fuel companies by prohibiting investments in stocks, securities, or obligations of fossil fuel companies and their related entities. The Board of Trustees is required to ensure that no endowment funds possess direct or indirect holdings in fossil fuel companies, with an allowance for de minimis exposure. Within one year of enactment, the university must confirm endowment funds do not have any indirect investments, subject to prudence and investment criteria. Investment policies will be revised and published within 90 days if necessary to comply with these stipulations. The act aims to align university investments with its mission and addresses the threat posed by climate change. The bill becomes effective immediately upon becoming law.
Will Guzzardi has proposed one other bill since the beginning of the 104th session.
Guzzardi graduated from Brown University in 2009 with a BA.
Will Guzzardi is currently serving in the Illinois State House, representing the state's 39th House District. He replaced previous state representative Maria Antonia Berrios in 2015.
Bills in Illinois follow a multi-step legislative process, beginning with introduction in either the House or Senate, followed by committee review, floor debates, and votes in both chambers before reaching the governor for approval or veto. The General Assembly operates on a biennial schedule, and while typically thousands of bills are introduced each session, only a fraction successfully pass through the process to become law.
You can read more about bills and other measures here.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| HB1155 | 01/09/2025 | Amends the University of Illinois Act. Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest the assets of any endowment fund in the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Provides that this does not preclude the de minimis exposure of any funds held by the endowment fund to the stocks, securities, or other obligations of any fossil fuel company or any subsidiary, affiliate, or parent of any fossil fuel company. Requires the Board of Trustees to direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to not invest in any prime commercial paper or corporate bonds issued by a fossil fuel company. Provides that, beginning one year after the effective date of the amendatory Act, the Board of Trustees, subject to an affirmative determination of prudence and in accordance with sound investment criteria and consistent with its fiduciary obligations, shall direct the University of Illinois System to ensure that any endowment fund does not have any indirect investments; defines "indirect investment". Provides that the Board of Trustees shall direct the University of Illinois System, in addition to the Office of Investments and external investment managers, to adopt updates to its written investment policies, if necessary, to meet the requirements of these provisions and publish a copy of those updated policies within 90 days after the adoption of the updated policies. Effective immediately. |
| HB1154 | 01/09/2025 | Amends the Illinois Human Rights Act. Provides that a plaintiff may be awarded all forms of relief available in tort actions, including but not be limited to, emotional distress, pain and suffering, and loss of a normal life. Provides that a plaintiff may also be awarded punitive damages. |
| HB1156 | 01/09/2025 | Amends the Illinois Pesticide Act. Provides that, notwithstanding any other provision of law, no person shall produce ethanol using seeds that have been treated with a pesticide. |
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