Amendment of Municipal Code Chapter 2-32 by adding new Section 2-32-535 prohibiting City funds from being invested in certain investment instruments, entities or funds
Legislation tracker › Finance › 15th Ward: Raymond A. Lopez
- Record number: O2025-0021049
- Type: Ordinance; category: Municipal Code Amendments
- Status: In Committee (Re-Referred)
- Sponsor: Raymond A. Lopez (15th Ward)
- Co-sponsors (2): Anthony V. Napolitano (41st Ward), Brendan Reilly (42nd Ward)
- Committee: Committee on Finance
- Submitted Date: Nov 14, 2025
- Introduction Date: Nov 14, 2025
- Official record: Office of the City Clerk
Impact report
Written by AI from the official document. AI can make mistakes; the official document always wins.
This is a procedural report recommending that a proposed ordinance, which would add a new section to the City Code barring City funds from being invested in certain investment instruments, entities or funds, be sent to the Committee on Finance.
Who it affects
- City of Chicago taxpayers and residents: The proposed ordinance would limit where City funds can be invested, but the document does not say which investments would be banned.
- Investment firms, entities and funds: Certain investment instruments, entities or funds could be blocked from receiving City money, though the document does not name them.
What changes
- The Committee on Committees and Rules recommended sending this proposed ordinance to the Committee on Finance for review.
- If later passed, a new Section 2-32-535 would be added to Chapter 2-32 of the Municipal Code.
- The new section would prohibit City funds from being invested in certain investment instruments, entities or funds.
- The motion to re-refer the item received a Do Pass recommendation by voice vote on July 9, 2026.
Timeline
- Nov 14, 2025: Referred, City Council. Two committees having been called, the Committee on Finance and the Committee on the Budget and Government Operations, the matter was Referred to the Committee on Committees and Rules (Pursuant to Council Rule 42).
- Jul 9, 2026: Recommended for Re-Referral, Committee on Committees and Rules. The matter was recommended for Re-Referral by controlling legislative body.
- Jul 15, 2026: Referred, City Council. The matter was Referred to Committee.
Documents
- 7.15.26 CCR Report to Council - Item 4.pdf (Committee Letter)
- w15,41,42 - o21049.pdf (Legislation)
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