IL HB1571 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Pension Code. Provides that beginning January 1, 2020, the governing body of a municipality with a downstate police pension fund or downstate firefighter pension fund may require the pension fund to transfer its investment authority and assets to the Illinois Municipal Retirement Fund (IMRF) if its nets assets have surpassed a certain threshold. Provides that upon completion of the transfer, the investment authority of the board of trustees of the downstate police pension fund or downstate firefighter pension fund shall terminate. Contains other provisions concerning transfers to IMRF, rulemaking, transfer of investment authority, investments, and auditing. Requires the Commission on Government Forecasting and Accountability to conduct an analysis of the merits and feasibility of transitioning the investment authority of all boards of trustees of downstate police pension funds and downstate firefighter pension funds to IMRF. Makes changes to provisions concerning trustee training. Amends the Property Tax Extension Limitation Law of the Property Tax Code. Beginning January 1, 2021, removes a provision that excludes special purpose extensions made for contributions to a downstate firefighter pension fund from the definition of "aggregate extension". Excludes from the definition of "aggregate extension" special purpose extensions made for contributions to a downstate police or downstate firefighter pension fund that transfers its investment authority to IMRF. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Title
PEN CD-POLICE/FIRE INVESTMENT
Sponsors
Rep. Ryan Spain [R] |
History
Date | Chamber | Action |
---|---|---|
2019-03-29 | House | Rule 19(a) / Re-referred to Rules Committee |
2019-02-21 | House | To Pension Reform Subcommittee |
2019-02-13 | House | Assigned to Personnel & Pensions Committee |
2019-02-01 | House | Chief Sponsor Changed to Rep. Ryan Spain |
2019-02-01 | House | Referred to Rules Committee |
2019-02-01 | House | First Reading |
2019-01-30 | House | Filed with the Clerk by Rep. Jim Durkin |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 805 | 8.43 | New Code | See Bill Text |
35 | 200 | 18-185 | Amended Code | Citation Text |
40 | 5 | 1-101.6 | New Code | See Bill Text |
40 | 5 | 1-101.7 | New Code | See Bill Text |
40 | 5 | 1-109.3 | Amended Code | Citation Text |
40 | 5 | 1-113.05 | New Code | See Bill Text |
40 | 5 | 1-113.1 | Amended Code | Citation Text |
40 | 5 | 1-113.2 | Amended Code | Citation Text |
40 | 5 | 1-113.3 | Amended Code | Citation Text |
40 | 5 | 1-113.4 | Amended Code | Citation Text |
40 | 5 | 1-113.4a | Amended Code | Citation Text |
40 | 5 | 1-113.5 | Amended Code | Citation Text |
40 | 5 | 1-113.6 | Amended Code | Citation Text |
40 | 5 | 1-113.7 | Amended Code | Citation Text |
40 | 5 | 1-167 | New Code | See Bill Text |
40 | 5 | 3-127 | Amended Code | Citation Text |
40 | 5 | 3-132 | Amended Code | Citation Text |
40 | 5 | 3-132.1 | New Code | See Bill Text |
40 | 5 | 3-132.2 | New Code | See Bill Text |
40 | 5 | 3-132.3 | New Code | See Bill Text |
40 | 5 | 3-132.4 | New Code | See Bill Text |
40 | 5 | 3-135 | Amended Code | Citation Text |
40 | 5 | 4-120 | Amended Code | Citation Text |
40 | 5 | 4-123 | Amended Code | Citation Text |
40 | 5 | 4-128 | Amended Code | Citation Text |
40 | 5 | 4-128.1 | New Code | See Bill Text |
40 | 5 | 4-128.2 | New Code | See Bill Text |
40 | 5 | 4-128.3 | New Code | See Bill Text |
40 | 5 | 4-128.4 | New Code | See Bill Text |
40 | 5 | 7-175 | Amended Code | Citation Text |
40 | 5 | 7-175.1 | Amended Code | Citation Text |
40 | 5 | 7-199.5 | New Code | See Bill Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1571&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/HB/10100HB1571.htm |