Bill Title: Reinserts the provisions of the introduced bill with the following changes. Amends the General Obligation Bond Act. Authorizes an additional $700,000,000 (rather than $1,000,000,000) of State Pension Obligation Acceleration Bonds. Makes a conforming change. Amends the State Employees, State Universities, and Downstate Teachers Articles of the Illinois Pension Code. Extends the option for a participant to receive an accelerated pension benefit payment in lieu of any pension benefit or for a reduction in the increases to his or her annual retirement annuity and survivor's annuity to June 30, 2028 (instead of June 30, 2030). Effective immediately.

Sponsorship: Slight Partisan Bill (Democrat 9-5)

Status: (Passed) 2026-06-16 - Public Act . . . . . . . . . 104-0467 [HB5196 Detail]

Text: Latest bill text (Enrolled) [HTML]

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