PENCD-IMRF-AMORTIZING LIABLTY Senate SponsorsSen. James F. Clayborne, Jr. 1/9/2007SenateSession Sine Die 40 ILCS 5/7-172from Ch. 108 1/2, par. 7-172Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Provides that specified unfunded liabilities of participating municipalities shall be spread over the remainder of the period that is allowable under generally accepted accounting principles, except that the employer may provide for a longer period by adopting a resolution or ordinance specifying a 40-year period and submitting a certified copy of the ordinance or resolution to the fund. Effective immediately. 1/20/2006SenateFiled with Secretary by Sen. James F. Clayborne, Jr. 1/20/2006SenateFirst Reading 1/20/2006SenateReferred to Rules 1/9/2007SenateSession Sine Die