IL HB5118 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 15 2018 - 25% progression
Action: 2018-02-16 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Cook County Forest Preserve Article of the Illinois Pension Code. Removes language providing how the Cook County Forest Preserve shall levy and collect a property tax levied to provide revenue for the fund under that Article. Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Specifies the dollar amount of the required employer contributions through 2022. Beginning in the year 2023, provides for the annual required contribution to be the amount determined by the Fund to be equal to the sum of (i) the employer's portion of the projected normal cost for that fiscal year, plus (ii) an amount that is sufficient to bring the total actuarial assets of the Fund up to 100% of the total actuarial liabilities of the Fund by the end of 2052. Provides that the contributions may be taken from any revenue source, including, but not limited to, other tax revenues, proceeds of borrowings, or State or federal funds. Amends the State Mandates Act to require implementation without reimbursement. Makes technical and other changes. Effective immediately.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

PEN CD-COOK-FOREST-FUNDING

Sponsors


History

DateChamberAction
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-15HouseFiled with the Clerk by Rep. Robert Martwick

Code Citations

ChapterArticleSectionCitation TypeStatute Text
308058.42New CodeSee Bill Text
40510-107Amended CodeCitation Text
4059-169Amended CodeCitation Text

Illinois State Sources


Bill Comments

feedback