Illinois General Assembly - Bill Status for SB3424
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 Bill Status of SB3424  100th General Assembly


Senate Sponsors
Sen. William E. Brady

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
40 ILCS 5/4-101from Ch. 108 1/2, par. 4-101
40 ILCS 5/4-101.1 new
40 ILCS 5/4-101.2 new
40 ILCS 5/7-199.5 new
40 ILCS 5/4-102.1 new
40 ILCS 5/4-103from Ch. 108 1/2, par. 4-103
40 ILCS 5/4-104.5 new
40 ILCS 5/4-105from Ch. 108 1/2, par. 4-105
40 ILCS 5/4-105c
40 ILCS 5/4-105d
40 ILCS 5/4-106.5 new
40 ILCS 5/4-108from Ch. 108 1/2, par. 4-108
40 ILCS 5/4-118from Ch. 108 1/2, par. 4-118
40 ILCS 5/4-118.1from Ch. 108 1/2, par. 4-118.1
40 ILCS 5/4-121from Ch. 108 1/2, par. 4-121
40 ILCS 5/4-121.1 new
40 ILCS 5/4-121.2 new
40 ILCS 5/4-124from Ch. 108 1/2, par. 4-124
40 ILCS 5/4-128from Ch. 108 1/2, par. 4-128
40 ILCS 5/4-129.5 new
40 ILCS 5/4-130.1 new
40 ILCS 5/4-130.3 new
40 ILCS 5/4-130.4 new
40 ILCS 5/4-130.5 new
40 ILCS 5/4-134from Ch. 108 1/2, par. 4-134
30 ILCS 805/8.42 new

Synopsis As Introduced
Amends the Illinois Pension Code. Merges all Article 4 firefighters' pension funds into a single Downstate Firefighters Pension Fund on January 1, 2020. Creates a Transition Board, which is responsible for planning, overseeing, and administering the consolidation. Authorizes the Transition Board to undertake numerous activities necessary for the consolidation, including making arrangements for staff, investments, transfer of assets and liabilities, acquisition of property, establishment of municipality accounts, and adopting rules and procedures. Authorizes the Transition Board to enter into contracts and to obligate and expend the assets of the Fund. Creates a new Board of Trustees for the Fund, and provides for administration of the Fund by the Transition Board until the new Board assumes its duties on January 1, 2021. Provides for investment of the Fund's assets by a custodian chosen by the Board of Trustees. Makes conforming and other changes. Amends the Property Tax Extension Limitation Law (PTELL) of the Property Tax Code to exclude from the definition of "aggregate extension" special purpose extensions made for contributions to the Downstate Firefighters Pension Fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately, except that certain changes to the Illinois Pension Code and PTELL of the Property Tax Code take effect January 1, 2020.

DateChamber Action
  2/16/2018SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/16/2018SenateFirst Reading
  2/16/2018SenateReferred to Assignments
  2/27/2018SenateAssigned to Licensed Activities and Pensions
  4/12/2018SenateTo Subcommittee on Pension Consolidation
  4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018
  4/27/2018SenateRule 3-9(a) / Re-referred to Assignments
  9/30/2018SenateChief Sponsor Changed to Sen. William E. Brady
  1/9/2019SenateSession Sine Die

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