PEN CD-CHGO POL-TAX MULTIPLIER Senate SponsorsSen. James A. DeLeo-Denny Jacobs 1/11/2005SenateSession Sine Die 40 ILCS 5/5-168from Ch. 108 1/2, par. 5-168Amends the Chicago Police Article of the Illinois Pension Code to increase the multiplier used to calculate the maximum allowable pension tax, from 2.00 to 2.26. Effective immediately.Pension Note (Pension Laws Commission) SB 910 would significantly increase the annual employer contributions to the Fund. In FY 2000, the City of Chicago made employer contributions of approximately $139.4 million, using a property tax multiplier of 2.00. If a property tax multiplier of 2.26 had been in effect that year, the employer contributions generated by the tax levy would have totaled approximately $157.5 million, an increase of $18.1 million. Fiscal Note (Dept of Commerce and Community Affairs) No fiscal impact on DCCA. The extent of fiscal impact on local governments cannot be determined. 2/19/2003SenateFiled with Secretary by Sen. James A. DeLeo 2/19/2003SenateFirst Reading 2/19/2003SenateReferred to Rules 2/26/2003SenateAssigned to Insurance & Pensions 2/28/2003SenatePension Note Filed As Introduced 3/5/2003SenateTo Subcommittee 3/12/2003SenateAdded as Chief Co-Sponsor Sen. Denny Jacobs 3/13/2003SenateDo Pass Insurance & Pensions; 006-004-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/18/2003SenateFiscal Note Requested by Sen. Bill Brady 3/25/2003SenateFiscal Note Filed 4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003. 7/1/2003SenatePursuant to Senate Rule 3-9(b) / Referred to Rules 1/11/2005SenateSession Sine Die