Illinois General Assembly - Bill Status for HB5297

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Bill Status of HB5297 96th General Assembly

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Short Description: PEN CD-ART 3&4-FINANCING-LEVY

House Sponsors
Rep. Karen May

Last Action

Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/3-125

from Ch. 108 1/2, par. 3-125

40 ILCS 5/4-118

from Ch. 108 1/2, par. 4-118

Synopsis As Introduced
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that, for the 2-year period consisting of taxable years 2010 and 2011, the city council or the board of trustees of the municipality shall annually levy a tax upon all the taxable property of the municipality at the rate on the dollar that will produce an amount for that 2-year period that is the lesser of: (i) the amount levied for taxable year 2009 multiplied by 1.1 or (ii) an amount that, when added to the deductions from the salaries or wages of police officers and firefighters and revenues available from other sources, will equal a sum sufficient to meet the annual actuarial requirements of the pension funds. Effective immediately.

Actions

Date	Chamber	Action
2/3/2010	House	Filed with the Clerk by Rep. Karen May
2/3/2010	House	First Reading
2/3/2010	House	Referred to Rules Committee
2/22/2010	House	Assigned to Personnel and Pensions Committee
3/15/2010	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2011	House	Session Sine Die

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