Bill Title: Amends the Chicago Police and Firefighter Articles of the Illinois Pension Code. Provides that the city shall deposit with the city treasurer, for the benefit of each of those funds, a minimum of 20% of all proceeds collected by the city from newly established gaming revenue sources arising out of legislation enacted in 2013 or thereafter. These deposits shall continue until the stabilization of the fund has been deemed to have occurred by an independent actuarial organization mutually agreed upon by the city and employee representatives. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB1518 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Brandon Phelps [D]	Primary	Sponsored Bills	HD-118	FollowTheMoney	Ballotpedia	VoteSmart
Representative Frances Hurley [D]	Cosponsor	Sponsored Bills	HD-035	FollowTheMoney	Ballotpedia	VoteSmart
Representative Patrick Verschoore [D]	Cosponsor	Sponsored Bills	HD-072	FollowTheMoney	Ballotpedia	VoteSmart
Representative Daniel Beiser [D]	Cosponsor	Sponsored Bills	HD-111	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kelly Burke [D]	Cosponsor	Sponsored Bills	HD-036	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Smiddy [D]	Cosponsor	Sponsored Bills	HD-071	FollowTheMoney	Ballotpedia	VoteSmart

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