Illinois Senate Bill 3421 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Pension Code. In the Cook County and Cook County Forest Preserve Articles, increases the multiplier used to calculate the maximum tax levy for the years 2014 through 2020. Beginning in 2021, provides for an annual tax levy based on (1) the employer's normal cost of the pension fund, plus (2) the annual amount necessary to amortize the fund's unfunded accrued liabilities over a period of 30 years from the effective date of the evaluation. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PEN CD-COOK CO-TAX LEVY

Sen. Mike Jacobs [D]

Date	Chamber	Action
2013-01-08	Senate	Session Sine Die
2012-03-30	Senate	Rule 3-9(a) / Re-referred to Assignments
2012-03-09	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
2012-02-24	Senate	To Pensions & Investments Subcommittee on Pension Reforms
2012-02-17	Senate	Assigned to Pensions and Investments
2012-02-07	Senate	Referred to Assignments
2012-02-07	Senate	First Reading
2012-02-07	Senate	Filed with Secretary by Sen. Mike Jacobs

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.36	New Code	See Bill Text
40	5	10-107	Amended Code	Citation Text
40	5	9-169	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3421&GAID=11&DocTypeID=SB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/SB/09700SB3421.htm