Illinois General Assembly - Bill Status for HB3437
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 Bill Status of HB3437  97th General Assembly


Short Description:  PEN CD-COOK COUNTY-TAX LEVY

House Sponsors
Rep. Kevin A. McCarthy

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/9-169from Ch. 108 1/2, par. 9-169
40 ILCS 5/10-107from Ch. 108 1/2, par. 10-107
30 ILCS 805/8.35 new


Synopsis As Introduced
Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Provides that the multiplier for the years 2013 through 2015 is 2.25 and for the years 2016 through 2019 is 3.00. Provides that, beginning with the year 2020 and each year thereafter, the county and forest preserve district shall levy a tax annually upon all taxable property within the district at a rate that will produce a sum that, when added to the amounts deducted from the salaries of the employees or otherwise contributed by them and revenues from other sources, will equal a sum sufficient to meet the annual actuarial requirements of the pension fund as determined by a qualified actuary retained by the pension fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/24/2011HouseFiled with the Clerk by Rep. Kevin A. McCarthy
  2/24/2011HouseFirst Reading
  2/24/2011HouseReferred to Rules Committee
  3/1/2011HouseAssigned to Executive Committee
  3/17/2011HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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