Bill Status of HB1815  94th General Assembly

Short Description:  PENSIONS-TECH

House Sponsors
Rep. Naomi D. Jakobsson - Barbara Flynn Currie - Richard T. Bradley - Robert F. Flider - Mike Boland, Marlow H. Colvin, Dan Reitz, Brandon W. Phelps, John E. Bradley, Daniel V. Beiser, Charles E. Jefferson, Linda Chapa LaVia, Kurt M. Granberg, Lisa M. Dugan, Thomas Holbrook, Jack D. Franks, Jack McGuire, Patrick J Verschoore, Michael K. Smith and Wyvetter H. Younge

Senate Sponsors
(Sen. Jeffrey M. Schoenberg)

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/2-101from Ch. 108 1/2, par. 2-101


Synopsis As Introduced
Amends the Illinois Pension Code. Makes a technical change in a Section concerning the General Assembly.

House Floor Amendment No. 1
Deletes reference to:
40 ILCS 5/2-101
Adds reference to:
30 ILCS 105/5.663 new
30 ILCS 105/8h
30 ILCS 122/10
30 ILCS 122/15
30 ILCS 122/20 new
30 ILCS 122/25 new
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131from Ch. 108 1/2, par. 14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 15/1.7 new

Replaces everything after the enacting clause. Amends the Budget Stabilization Act. Creates the Pension Stabilization Fund, to be used solely for making payments to the 5 State-funded retirement systems to reduce their unfunded liabilities. Provides for transfers of money into that Fund from the General Revenue Fund in the same amounts and in the same manner as transfers are made into the Budget Stabilization Fund. Provides that all money deposited into the Pension Stabilization Fund shall be promptly apportioned and distributed by the State Comptroller to the 5 State-funded retirement systems, in proportion to their respective actuarial reserve deficiencies, as determined by the Governor's Office of Management and Budget. Amends the Illinois Pension Code. Provides that amounts received from the Pension Stabilization Fund do not reduce and do not constitute payment of any portion of the required minimum State contribution, and shall not be used in computing required State contributions in future years until the system becomes at least 90% funded. Amends the State Pension Funds Continuing Appropriation Act to provide for the continuing appropriation of the amounts to be distributed from the Fund. Amends the State Finance Act. Adds the new Fund to the list of special funds and exempts it from transfers under Section 8h. Effective July 1, 2006.

 Pension Note (H-AM 1,2)(Comm on Gov't Forecasting & Account)
 According to the Commission's FY 2007 Revenue Forecast, general funds revenues are expected to grow by 2.7% over estimated FY 2006 receipts. Therefore, no transfer of funds to the Pension Stabilization Fund would occur in FY 2007. The changes in funding provisions would require an additional $600-$900 million pension contribution for FY 2007 over the current statutorily-defined funding requirement.

 State Debt Impact Note (H-AM 1,2)(Comm on Gov't Forecasting & Account)
 HB 1815 (H-AM 1,2) would not change the amount of authorization for any type of State-issued or State-supported bond, and therefore, would not affect the level of indebtedness

 State Mandates Fiscal Note (H-AM 1 & 2)(Dept of Commerce & Econ Opportunity)
 This legislation does not create a State mandate under the State Mandates Act.

 Fiscal Note (H-AM ) (Gov. Office of Management & Budget)
 The Governor's Office of Management and Budget estimates that this bill, if enacted into law, will not have a fiscal impact to the State. In the event that estimated general fund revenues exceed expenditures by the value set forth in the Budget Stabilization Act, a transfer would be required that would impact the fiscal condition of the State. However, the Governor's Office of Management and Budget does not estimate that revenue conditions will impact this Act in fiscal year 2007.

 Fiscal Note (H-AM 2) (Gov. Office of Management & Budget)
 Approximately $1 Billion in additional costs to the State in fiscal year 2007, and increasing amounts in future fiscal years.

Actions 
DateChamber Action
  2/14/2005HouseFiled with the Clerk by Rep. Michael J. Madigan
  2/14/2005HouseChief Co-Sponsor Rep. Barbara Flynn Currie
  2/14/2005HouseChief Co-Sponsor Rep. Richard T. Bradley
  2/16/2005HouseFirst Reading
  2/16/2005HouseReferred to Rules Committee
  2/17/2005HouseAssigned to Executive Committee
  3/9/2005HouseDo Pass / Short Debate Executive Committee; 013-000-000
  3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate **
  4/7/2005HouseSecond Reading - Short Debate
  4/7/2005HouseHeld on Calendar Order of Second Reading - Short Debate **
  4/15/2005HouseRule 19(a) / Re-referred to Rules Committee
  2/28/2006HouseFinal Action Deadline Extended-9(b) March 3, 2006
  2/28/2006HouseApproved for Consideration Rules Committee; 003-002-000
  2/28/2006HousePlaced on Calendar 2nd Reading - Short Debate
  3/3/2006HouseRule 19(a) / Re-referred to Rules Committee
  4/17/2006HouseFinal Action Deadline Extended-9(b) April 30, 2006
  4/17/2006HouseApproved for Consideration Rules Committee; 003-001-000
  4/17/2006HousePlaced on Calendar 2nd Reading - Short Debate
  4/18/2006HouseChief Sponsor Changed to Rep. Naomi D. Jakobsson
  4/18/2006HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Naomi D. Jakobsson
  4/18/2006HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/18/2006HouseHouse Floor Amendment No. 1 Rules Refers to Personnel and Pensions Committee
  4/19/2006HouseHouse Floor Amendment No. 1 Recommends Be Adopted Personnel and Pensions Committee; 005-000-000
  4/19/2006HouseAdded Co-Sponsor Rep. Marlow H. Colvin
  4/19/2006HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. James H. Meyer
  4/19/2006HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  4/19/2006HouseAdded Co-Sponsor Rep. Mike Boland
  4/19/2006HouseAdded Co-Sponsor Rep. Dan Reitz
  4/19/2006HouseAdded Co-Sponsor Rep. Brandon W. Phelps
  4/19/2006HouseAdded Co-Sponsor Rep. Robert F. Flider
  4/24/2006HouseAdded Co-Sponsor Rep. John E. Bradley
  4/24/2006HouseAdded Co-Sponsor Rep. Daniel V. Beiser
  4/24/2006HouseAdded Co-Sponsor Rep. Charles E. Jefferson
  4/24/2006HouseAdded Co-Sponsor Rep. Kathleen A. Ryg
  4/24/2006HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  4/24/2006HouseAdded Co-Sponsor Rep. Kurt M. Granberg
  4/24/2006HouseAdded Co-Sponsor Rep. Careen M Gordon
  4/24/2006HouseAdded Co-Sponsor Rep. Lisa M. Dugan
  4/24/2006HouseRemoved Co-Sponsor Rep. Kathleen A. Ryg
  4/25/2006HouseAdded Chief Co-Sponsor Rep. Robert F. Flider
  4/25/2006HouseRemoved Co-Sponsor Rep. Robert F. Flider
  4/25/2006HouseAdded Chief Co-Sponsor Rep. Careen M Gordon
  4/25/2006HouseRemoved Co-Sponsor Rep. Careen M Gordon
  4/25/2006HouseAdded Co-Sponsor Rep. Thomas Holbrook
  4/25/2006HouseAdded Co-Sponsor Rep. Jack D. Franks
  4/25/2006HouseAdded Co-Sponsor Rep. Jack McGuire
  4/25/2006HouseAdded Co-Sponsor Rep. Patrick J Verschoore
  4/25/2006HouseAdded Co-Sponsor Rep. Michael K. Smith
  4/25/2006HouseSecond Reading - Short Debate
  4/25/2006HouseHouse Floor Amendment No. 1 Adopted by Voice Vote
  4/25/2006HouseHeld on Calendar Order of Second Reading - Short Debate
  4/25/2006HouseFiscal Note Requested by Rep. William B. Black; As Amended
  4/25/2006HouseState Mandates Fiscal Note Requested by Rep. William B. Black; As Amended
  4/25/2006HousePension Note Requested by Rep. William B. Black; As Amended
  4/25/2006HouseState Debt Impact Note Requested by Rep. William B. Black; As Amended
  4/26/2006HousePension Note Filed As Amended by HA 1,2
  4/26/2006HouseState Debt Impact Note Filed As Amended by HA 1,2
  4/30/2006HouseFinal Action Deadline Extended-9(b) May 5, 2006
  5/1/2006HouseState Mandates Fiscal Note Filed As Amended by HA 1,2
  5/2/2006HouseFiscal Note Filed As Amended by HA 2
  5/2/2006HouseFiscal Note Filed As Amended by HA 1
  5/2/2006HouseHouse Floor Amendment No. 2 Rep. Barbara Flynn Currie Objects to the Motion to Discharge Committee
  5/2/2006HouseHouse Floor Amendment No. 2 Chair Ruled the Motion to Discharge Committee is Out of Order
  5/2/2006HouseAppeal Ruling of Chair Rep. James H. Meyer
  5/2/2006HouseShall the Chair be Sustained
  5/2/2006HouseMotion to Sustain the Chair - Prevailed 062-049-000
  5/2/2006HouseRemove Chief Co-Sponsor Rep. Careen M Gordon
  5/2/2006HouseAdded Chief Co-Sponsor Rep. Mike Boland
  5/2/2006HouseRemoved Co-Sponsor Rep. Mike Boland
  5/2/2006HouseAdded Co-Sponsor Rep. Wyvetter H. Younge
  5/2/2006HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/2/2006HouseChair Rules Bill be Placed on Unlimited Debate Status
  5/2/2006HousePlaced on Calendar Order of 3rd Reading - Unlimited Debate
  5/2/2006HouseThird Reading - Unlimited Debate - Passed 063-048-000
  5/2/2006HouseHouse Floor Amendment No. 2 Tabled Pursuant to Rule 40(a)
  5/2/2006SenateArrive in Senate
  5/2/2006SenatePlaced on Calendar Order of First Reading
  5/2/2006SenateChief Senate Sponsor Sen. Jeffrey M. Schoenberg
  5/2/2006SenateFirst Reading
  5/2/2006SenateReferred to Rules
  1/9/2007HouseSession Sine Die