Bill Title: Amends the Downstate and Chicago Teacher Articles of the Illinois Pension Code to require school districts to pay the employer normal cost of benefits beginning in fiscal year 2021. Amends the State Pension Funds Continuing Appropriation Act to appropriate from the Common School Fund to the State Board of Education, on a continuing annual basis beginning with fiscal year 2021, the amount certified as the employer normal cost, to be distributed by the State Board of Education under the evidence-based funding formula provisions of the School Code. Amends the evidence-based funding formula provisions of the School Code to make changes concerning the employee benefit investments calculation and the Base Funding Minimum calculation. Effective immediately.

Sponsorship: Slight Partisan Bill (Republican 2-1)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4948 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-13	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4948

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4948 currently on file.