Full Text of HB0417 102nd General Assembly
HB0417sam001 102ND GENERAL ASSEMBLY | Sen. Robert F. Martwick Filed: 5/19/2021
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| 1 | | AMENDMENT TO HOUSE BILL 417
| 2 | | AMENDMENT NO. ______. Amend House Bill 417 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Property Tax Code is amended by changing | 5 | | Section 18-185 as follows: | 6 | | (35 ILCS 200/18-185)
| 7 | | Sec. 18-185. Short title; definitions. This Division 5 | 8 | | may be cited as the
Property Tax Extension Limitation Law. As | 9 | | used in this Division 5:
| 10 | | "Consumer Price Index" means the Consumer Price Index for | 11 | | All Urban
Consumers for all items published by the United | 12 | | States Department of Labor.
| 13 | | "Extension limitation" means (a) the lesser of 5% or the | 14 | | percentage increase
in the Consumer Price Index during the | 15 | | 12-month calendar year preceding the
levy year or (b) the rate | 16 | | of increase approved by voters under Section 18-205.
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| 1 | | "Affected county" means a county of 3,000,000 or more | 2 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 3 | | more inhabitants.
| 4 | | "Taxing district" has the same meaning provided in Section | 5 | | 1-150, except as
otherwise provided in this Section. For the | 6 | | 1991 through 1994 levy years only,
"taxing district" includes | 7 | | only each non-home rule taxing district having the
majority of | 8 | | its
1990 equalized assessed value within any county or | 9 | | counties contiguous to a
county with 3,000,000 or more | 10 | | inhabitants. Beginning with the 1995 levy
year, "taxing | 11 | | district" includes only each non-home rule taxing district
| 12 | | subject to this Law before the 1995 levy year and each non-home | 13 | | rule
taxing district not subject to this Law before the 1995 | 14 | | levy year having the
majority of its 1994 equalized assessed | 15 | | value in an affected county or
counties. Beginning with the | 16 | | levy year in
which this Law becomes applicable to a taxing | 17 | | district as
provided in Section 18-213, "taxing district" also | 18 | | includes those taxing
districts made subject to this Law as | 19 | | provided in Section 18-213.
| 20 | | "Aggregate extension" for taxing districts to which this | 21 | | Law applied before
the 1995 levy year means the annual | 22 | | corporate extension for the taxing
district and those special | 23 | | purpose extensions that are made annually for
the taxing | 24 | | district, excluding special purpose extensions: (a) made for | 25 | | the
taxing district to pay interest or principal on general | 26 | | obligation bonds
that were approved by referendum; (b) made |
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| 1 | | for any taxing district to pay
interest or principal on | 2 | | general obligation bonds issued before October 1,
1991; (c) | 3 | | made for any taxing district to pay interest or principal on | 4 | | bonds
issued to refund or continue to refund those bonds | 5 | | issued before October 1,
1991; (d)
made for any taxing | 6 | | district to pay interest or principal on bonds
issued to | 7 | | refund or continue to refund bonds issued after October 1, | 8 | | 1991 that
were approved by referendum; (e)
made for any taxing | 9 | | district to pay interest
or principal on revenue bonds issued | 10 | | before October 1, 1991 for payment of
which a property tax levy | 11 | | or the full faith and credit of the unit of local
government is | 12 | | pledged; however, a tax for the payment of interest or | 13 | | principal
on those bonds shall be made only after the | 14 | | governing body of the unit of local
government finds that all | 15 | | other sources for payment are insufficient to make
those | 16 | | payments; (f) made for payments under a building commission | 17 | | lease when
the lease payments are for the retirement of bonds | 18 | | issued by the commission
before October 1, 1991, to pay for the | 19 | | building project; (g) made for payments
due under installment | 20 | | contracts entered into before October 1, 1991;
(h) made for | 21 | | payments of principal and interest on bonds issued under the
| 22 | | Metropolitan Water Reclamation District Act to finance | 23 | | construction projects
initiated before October 1, 1991; (i) | 24 | | made for payments of principal and
interest on limited bonds, | 25 | | as defined in Section 3 of the Local Government Debt
Reform | 26 | | Act, in an amount not to exceed the debt service extension base |
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| 1 | | less
the amount in items (b), (c), (e), and (h) of this | 2 | | definition for
non-referendum obligations, except obligations | 3 | | initially issued pursuant to
referendum; (j) made for payments | 4 | | of principal and interest on bonds
issued under Section 15 of | 5 | | the Local Government Debt Reform Act; (k)
made
by a school | 6 | | district that participates in the Special Education District | 7 | | of
Lake County, created by special education joint agreement | 8 | | under Section
10-22.31 of the School Code, for payment of the | 9 | | school district's share of the
amounts required to be | 10 | | contributed by the Special Education District of Lake
County | 11 | | to the Illinois Municipal Retirement Fund under Article 7 of | 12 | | the
Illinois Pension Code; the amount of any extension under | 13 | | this item (k) shall be
certified by the school district to the | 14 | | county clerk; (l) made to fund
expenses of providing joint | 15 | | recreational programs for persons with disabilities under
| 16 | | Section 5-8 of
the
Park District Code or Section 11-95-14 of | 17 | | the Illinois Municipal Code; (m) made for temporary relocation | 18 | | loan repayment purposes pursuant to Sections 2-3.77 and | 19 | | 17-2.2d of the School Code; (n) made for payment of principal | 20 | | and interest on any bonds issued under the authority of | 21 | | Section 17-2.2d of the School Code; (o) made for contributions | 22 | | to a firefighter's pension fund created under Article 4 of the | 23 | | Illinois Pension Code, to the extent of the amount certified | 24 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 25 | | and (p) made for road purposes in the first year after a | 26 | | township assumes the rights, powers, duties, assets, property, |
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| 1 | | liabilities, obligations, and
responsibilities of a road | 2 | | district abolished under the provisions of Section 6-133 of | 3 | | the Illinois Highway Code.
| 4 | | "Aggregate extension" for the taxing districts to which | 5 | | this Law did not
apply before the 1995 levy year (except taxing | 6 | | districts subject to this Law
in
accordance with Section | 7 | | 18-213) means the annual corporate extension for the
taxing | 8 | | district and those special purpose extensions that are made | 9 | | annually for
the taxing district, excluding special purpose | 10 | | extensions: (a) made for the
taxing district to pay interest | 11 | | or principal on general obligation bonds that
were approved by | 12 | | referendum; (b) made for any taxing district to pay interest
| 13 | | or principal on general obligation bonds issued before March | 14 | | 1, 1995; (c) made
for any taxing district to pay interest or | 15 | | principal on bonds issued to refund
or continue to refund | 16 | | those bonds issued before March 1, 1995; (d) made for any
| 17 | | taxing district to pay interest or principal on bonds issued | 18 | | to refund or
continue to refund bonds issued after March 1, | 19 | | 1995 that were approved by
referendum; (e) made for any taxing | 20 | | district to pay interest or principal on
revenue bonds issued | 21 | | before March 1, 1995 for payment of which a property tax
levy | 22 | | or the full faith and credit of the unit of local government is | 23 | | pledged;
however, a tax for the payment of interest or | 24 | | principal on those bonds shall be
made only after the | 25 | | governing body of the unit of local government finds that
all | 26 | | other sources for payment are insufficient to make those |
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| 1 | | payments; (f) made
for payments under a building commission | 2 | | lease when the lease payments are for
the retirement of bonds | 3 | | issued by the commission before March 1, 1995 to
pay for the | 4 | | building project; (g) made for payments due under installment
| 5 | | contracts entered into before March 1, 1995; (h) made for | 6 | | payments of
principal and interest on bonds issued under the | 7 | | Metropolitan Water Reclamation
District Act to finance | 8 | | construction projects initiated before October 1,
1991; (h-4) | 9 | | made for stormwater management purposes by the Metropolitan | 10 | | Water Reclamation District of Greater Chicago under Section 12 | 11 | | of the Metropolitan Water Reclamation District Act; (i) made | 12 | | for payments of principal and interest on limited bonds,
as | 13 | | defined in Section 3 of the Local Government Debt Reform Act, | 14 | | in an amount
not to exceed the debt service extension base less | 15 | | the amount in items (b),
(c), and (e) of this definition for | 16 | | non-referendum obligations, except
obligations initially | 17 | | issued pursuant to referendum and bonds described in
| 18 | | subsection (h) of this definition; (j) made for payments of
| 19 | | principal and interest on bonds issued under Section 15 of the | 20 | | Local Government
Debt Reform Act; (k) made for payments of | 21 | | principal and interest on bonds
authorized by Public Act | 22 | | 88-503 and issued under Section 20a of the Chicago
Park | 23 | | District Act for aquarium or
museum projects and bonds issued | 24 | | under Section 20a of the Chicago Park District Act for the | 25 | | purpose of making contributions to the pension fund | 26 | | established under Article 12 of the Illinois Pension Code ; (l) |
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| 1 | | made for payments of principal and interest on
bonds
| 2 | | authorized by Public Act 87-1191 or 93-601 and (i) issued | 3 | | pursuant to Section 21.2 of the Cook County Forest
Preserve | 4 | | District Act, (ii) issued under Section 42 of the Cook County
| 5 | | Forest Preserve District Act for zoological park projects, or | 6 | | (iii) issued
under Section 44.1 of the Cook County Forest | 7 | | Preserve District Act for
botanical gardens projects; (m) made
| 8 | | pursuant
to Section 34-53.5 of the School Code, whether levied | 9 | | annually or not;
(n) made to fund expenses of providing joint | 10 | | recreational programs for persons with disabilities under | 11 | | Section 5-8 of the Park
District Code or Section 11-95-14 of | 12 | | the Illinois Municipal Code;
(o) made by the
Chicago Park
| 13 | | District for recreational programs for persons with | 14 | | disabilities under subsection (c) of
Section
7.06 of the | 15 | | Chicago Park District Act; (p) made for contributions to a | 16 | | firefighter's pension fund created under Article 4 of the | 17 | | Illinois Pension Code, to the extent of the amount certified | 18 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 19 | | (q) made by Ford Heights School District 169 under Section | 20 | | 17-9.02 of the School Code; and (r) made for the purpose of | 21 | | making employer contributions to the Public School Teachers' | 22 | | Pension and Retirement Fund of Chicago under Section 34-53 of | 23 | | the School Code.
| 24 | | "Aggregate extension" for all taxing districts to which | 25 | | this Law applies in
accordance with Section 18-213, except for | 26 | | those taxing districts subject to
paragraph (2) of subsection |
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| 1 | | (e) of Section 18-213, means the annual corporate
extension | 2 | | for the
taxing district and those special purpose extensions | 3 | | that are made annually for
the taxing district, excluding | 4 | | special purpose extensions: (a) made for the
taxing district | 5 | | to pay interest or principal on general obligation bonds that
| 6 | | were approved by referendum; (b) made for any taxing district | 7 | | to pay interest
or principal on general obligation bonds | 8 | | issued before the date on which the
referendum making this
Law | 9 | | applicable to the taxing district is held; (c) made
for any | 10 | | taxing district to pay interest or principal on bonds issued | 11 | | to refund
or continue to refund those bonds issued before the | 12 | | date on which the
referendum making this Law
applicable to the | 13 | | taxing district is held;
(d) made for any
taxing district to | 14 | | pay interest or principal on bonds issued to refund or
| 15 | | continue to refund bonds issued after the date on which the | 16 | | referendum making
this Law
applicable to the taxing district | 17 | | is held if the bonds were approved by
referendum after the date | 18 | | on which the referendum making this Law
applicable to the | 19 | | taxing district is held; (e) made for any
taxing district to | 20 | | pay interest or principal on
revenue bonds issued before the | 21 | | date on which the referendum making this Law
applicable to the
| 22 | | taxing district is held for payment of which a property tax
| 23 | | levy or the full faith and credit of the unit of local | 24 | | government is pledged;
however, a tax for the payment of | 25 | | interest or principal on those bonds shall be
made only after | 26 | | the governing body of the unit of local government finds that
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| 1 | | all other sources for payment are insufficient to make those | 2 | | payments; (f) made
for payments under a building commission | 3 | | lease when the lease payments are for
the retirement of bonds | 4 | | issued by the commission before the date on which the
| 5 | | referendum making this
Law applicable to the taxing district | 6 | | is held to
pay for the building project; (g) made for payments | 7 | | due under installment
contracts entered into before the date | 8 | | on which the referendum making this Law
applicable to
the | 9 | | taxing district is held;
(h) made for payments
of principal | 10 | | and interest on limited bonds,
as defined in Section 3 of the | 11 | | Local Government Debt Reform Act, in an amount
not to exceed | 12 | | the debt service extension base less the amount in items (b),
| 13 | | (c), and (e) of this definition for non-referendum | 14 | | obligations, except
obligations initially issued pursuant to | 15 | | referendum; (i) made for payments
of
principal and interest on | 16 | | bonds issued under Section 15 of the Local Government
Debt | 17 | | Reform Act;
(j)
made for a qualified airport authority to pay | 18 | | interest or principal on
general obligation bonds issued for | 19 | | the purpose of paying obligations due
under, or financing | 20 | | airport facilities required to be acquired, constructed,
| 21 | | installed or equipped pursuant to, contracts entered into | 22 | | before March
1, 1996 (but not including any amendments to such | 23 | | a contract taking effect on
or after that date); (k) made to | 24 | | fund expenses of providing joint
recreational programs for | 25 | | persons with disabilities under Section 5-8 of
the
Park | 26 | | District Code or Section 11-95-14 of the Illinois Municipal |
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| 1 | | Code; (l) made for contributions to a firefighter's pension | 2 | | fund created under Article 4 of the Illinois Pension Code, to | 3 | | the extent of the amount certified under item (5) of Section | 4 | | 4-134 of the Illinois Pension Code; and (m) made for the taxing | 5 | | district to pay interest or principal on general obligation | 6 | | bonds issued pursuant to Section 19-3.10 of the School Code.
| 7 | | "Aggregate extension" for all taxing districts to which | 8 | | this Law applies in
accordance with paragraph (2) of | 9 | | subsection (e) of Section 18-213 means the
annual corporate | 10 | | extension for the
taxing district and those special purpose | 11 | | extensions that are made annually for
the taxing district, | 12 | | excluding special purpose extensions: (a) made for the
taxing | 13 | | district to pay interest or principal on general obligation | 14 | | bonds that
were approved by referendum; (b) made for any | 15 | | taxing district to pay interest
or principal on general | 16 | | obligation bonds issued before March 7, 1997 ( the effective | 17 | | date of Public Act 89-718)
this amendatory Act of 1997 ;
(c) | 18 | | made
for any taxing district to pay interest or principal on | 19 | | bonds issued to refund
or continue to refund those bonds | 20 | | issued before March 7, 1997 ( the effective date
of Public Act | 21 | | 89-718) this amendatory Act of 1997 ;
(d) made for any
taxing | 22 | | district to pay interest or principal on bonds issued to | 23 | | refund or
continue to refund bonds issued after March 7, 1997 | 24 | | ( the effective date of Public Act 89-718) this amendatory Act
| 25 | | of 1997 if the bonds were approved by referendum after March 7, | 26 | | 1997 ( the effective date of Public Act 89-718)
this amendatory |
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| 1 | | Act of 1997 ;
(e) made for any
taxing district to pay interest | 2 | | or principal on
revenue bonds issued before March 7, 1997 ( the | 3 | | effective date of Public Act 89-718) this amendatory Act of | 4 | | 1997
for payment of which a property tax
levy or the full faith | 5 | | and credit of the unit of local government is pledged;
| 6 | | however, a tax for the payment of interest or principal on | 7 | | those bonds shall be
made only after the governing body of the | 8 | | unit of local government finds that
all other sources for | 9 | | payment are insufficient to make those payments; (f) made
for | 10 | | payments under a building commission lease when the lease | 11 | | payments are for
the retirement of bonds issued by the | 12 | | commission before March 7, 1997 ( the effective date
of Public | 13 | | Act 89-718) this amendatory Act of 1997
to
pay for the building | 14 | | project; (g) made for payments due under installment
contracts | 15 | | entered into before March 7, 1997 ( the effective date of | 16 | | Public Act 89-718) this amendatory Act of
1997 ;
(h) made for | 17 | | payments
of principal and interest on limited bonds,
as | 18 | | defined in Section 3 of the Local Government Debt Reform Act, | 19 | | in an amount
not to exceed the debt service extension base less | 20 | | the amount in items (b),
(c), and (e) of this definition for | 21 | | non-referendum obligations, except
obligations initially | 22 | | issued pursuant to referendum; (i) made for payments
of
| 23 | | principal and interest on bonds issued under Section 15 of the | 24 | | Local Government
Debt Reform Act;
(j)
made for a qualified | 25 | | airport authority to pay interest or principal on
general | 26 | | obligation bonds issued for the purpose of paying obligations |
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| 1 | | due
under, or financing airport facilities required to be | 2 | | acquired, constructed,
installed or equipped pursuant to, | 3 | | contracts entered into before March
1, 1996 (but not including | 4 | | any amendments to such a contract taking effect on
or after | 5 | | that date); (k) made to fund expenses of providing joint
| 6 | | recreational programs for persons with disabilities under | 7 | | Section 5-8 of
the
Park District Code or Section 11-95-14 of | 8 | | the Illinois Municipal Code; and (l) made for contributions to | 9 | | a firefighter's pension fund created under Article 4 of the | 10 | | Illinois Pension Code, to the extent of the amount certified | 11 | | under item (5) of Section 4-134 of the Illinois Pension Code.
| 12 | | "Debt service extension base" means an amount equal to | 13 | | that portion of the
extension for a taxing district for the | 14 | | 1994 levy year, or for those taxing
districts subject to this | 15 | | Law in accordance with Section 18-213, except for
those | 16 | | subject to paragraph (2) of subsection (e) of Section 18-213, | 17 | | for the
levy
year in which the referendum making this Law | 18 | | applicable to the taxing district
is held, or for those taxing | 19 | | districts subject to this Law in accordance with
paragraph (2) | 20 | | of subsection (e) of Section 18-213 for the 1996 levy year,
| 21 | | constituting an
extension for payment of principal and | 22 | | interest on bonds issued by the taxing
district without | 23 | | referendum, but not including excluded non-referendum bonds. | 24 | | For park districts (i) that were first
subject to this Law in | 25 | | 1991 or 1995 and (ii) whose extension for the 1994 levy
year | 26 | | for the payment of principal and interest on bonds issued by |
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| 1 | | the park
district without referendum (but not including | 2 | | excluded non-referendum bonds)
was less than 51% of the amount | 3 | | for the 1991 levy year constituting an
extension for payment | 4 | | of principal and interest on bonds issued by the park
district | 5 | | without referendum (but not including excluded non-referendum | 6 | | bonds),
"debt service extension base" means an amount equal to | 7 | | that portion of the
extension for the 1991 levy year | 8 | | constituting an extension for payment of
principal and | 9 | | interest on bonds issued by the park district without | 10 | | referendum
(but not including excluded non-referendum bonds). | 11 | | A debt service extension base established or increased at any | 12 | | time pursuant to any provision of this Law, except Section | 13 | | 18-212, shall be increased each year commencing with the later | 14 | | of (i) the 2009 levy year or (ii) the first levy year in which | 15 | | this Law becomes applicable to the taxing district, by the | 16 | | lesser of 5% or the percentage increase in the Consumer Price | 17 | | Index during the 12-month calendar year preceding the levy | 18 | | year. The debt service extension
base may be established or | 19 | | increased as provided under Section 18-212.
"Excluded | 20 | | non-referendum bonds" means (i) bonds authorized by Public
Act | 21 | | 88-503 and issued under Section 20a of the Chicago Park | 22 | | District Act for
aquarium and museum projects; (ii) bonds | 23 | | issued under Section 15 of the
Local Government Debt Reform | 24 | | Act; or (iii) refunding obligations issued
to refund or to | 25 | | continue to refund obligations initially issued pursuant to
| 26 | | referendum.
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| 1 | | "Special purpose extensions" include, but are not limited | 2 | | to, extensions
for levies made on an annual basis for | 3 | | unemployment and workers'
compensation, self-insurance, | 4 | | contributions to pension plans, and extensions
made pursuant | 5 | | to Section 6-601 of the Illinois Highway Code for a road
| 6 | | district's permanent road fund whether levied annually or not. | 7 | | The
extension for a special service area is not included in the
| 8 | | aggregate extension.
| 9 | | "Aggregate extension base" means the taxing district's | 10 | | last preceding
aggregate extension as adjusted under Sections | 11 | | 18-135, 18-215,
18-230, and 18-206.
An adjustment under | 12 | | Section 18-135 shall be made for the 2007 levy year and all | 13 | | subsequent levy years whenever one or more counties within | 14 | | which a taxing district is located (i) used estimated | 15 | | valuations or rates when extending taxes in the taxing | 16 | | district for the last preceding levy year that resulted in the | 17 | | over or under extension of taxes, or (ii) increased or | 18 | | decreased the tax extension for the last preceding levy year | 19 | | as required by Section 18-135(c). Whenever an adjustment is | 20 | | required under Section 18-135, the aggregate extension base of | 21 | | the taxing district shall be equal to the amount that the | 22 | | aggregate extension of the taxing district would have been for | 23 | | the last preceding levy year if either or both (i) actual, | 24 | | rather than estimated, valuations or rates had been used to | 25 | | calculate the extension of taxes for the last levy year, or | 26 | | (ii) the tax extension for the last preceding levy year had not |
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| 1 | | been adjusted as required by subsection (c) of Section 18-135.
| 2 | | Notwithstanding any other provision of law, for levy year | 3 | | 2012, the aggregate extension base for West Northfield School | 4 | | District No. 31 in Cook County shall be $12,654,592. | 5 | | "Levy year" has the same meaning as "year" under Section
| 6 | | 1-155.
| 7 | | "New property" means (i) the assessed value, after final | 8 | | board of review or
board of appeals action, of new | 9 | | improvements or additions to existing
improvements on any | 10 | | parcel of real property that increase the assessed value of
| 11 | | that real property during the levy year multiplied by the | 12 | | equalization factor
issued by the Department under Section | 13 | | 17-30, (ii) the assessed value, after
final board of review or | 14 | | board of appeals action, of real property not exempt
from real | 15 | | estate taxation, which real property was exempt from real | 16 | | estate
taxation for any portion of the immediately preceding | 17 | | levy year, multiplied by
the equalization factor issued by the | 18 | | Department under Section 17-30, including the assessed value, | 19 | | upon final stabilization of occupancy after new construction | 20 | | is complete, of any real property located within the | 21 | | boundaries of an otherwise or previously exempt military | 22 | | reservation that is intended for residential use and owned by | 23 | | or leased to a private corporation or other entity,
(iii) in | 24 | | counties that classify in accordance with Section 4 of Article
| 25 | | IX of the
Illinois Constitution, an incentive property's | 26 | | additional assessed value
resulting from a
scheduled increase |
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| 1 | | in the level of assessment as applied to the first year
final | 2 | | board of
review market value, and (iv) any increase in | 3 | | assessed value due to oil or gas production from an oil or gas | 4 | | well required to be permitted under the Hydraulic Fracturing | 5 | | Regulatory Act that was not produced in or accounted for | 6 | | during the previous levy year.
In addition, the county clerk | 7 | | in a county containing a population of
3,000,000 or more shall | 8 | | include in the 1997
recovered tax increment value for any | 9 | | school district, any recovered tax
increment value that was | 10 | | applicable to the 1995 tax year calculations.
| 11 | | "Qualified airport authority" means an airport authority | 12 | | organized under
the Airport Authorities Act and located in a | 13 | | county bordering on the State of
Wisconsin and having a | 14 | | population in excess of 200,000 and not greater than
500,000.
| 15 | | "Recovered tax increment value" means, except as otherwise | 16 | | provided in this
paragraph, the amount of the current year's | 17 | | equalized assessed value, in the
first year after a | 18 | | municipality terminates
the designation of an area as a | 19 | | redevelopment project area previously
established under the | 20 | | Tax Increment Allocation Redevelopment Development Act in the | 21 | | Illinois
Municipal Code, previously established under the | 22 | | Industrial Jobs Recovery Law
in the Illinois Municipal Code, | 23 | | previously established under the Economic Development Project | 24 | | Area Tax Increment Act of 1995, or previously established | 25 | | under the Economic
Development Area Tax Increment Allocation | 26 | | Act, of each taxable lot, block,
tract, or parcel of real |
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| 1 | | property in the redevelopment project area over and
above the | 2 | | initial equalized assessed value of each property in the
| 3 | | redevelopment project area.
For the taxes which are extended | 4 | | for the 1997 levy year, the recovered tax
increment value for a | 5 | | non-home rule taxing district that first became subject
to | 6 | | this Law for the 1995 levy year because a majority of its 1994 | 7 | | equalized
assessed value was in an affected county or counties | 8 | | shall be increased if a
municipality terminated the | 9 | | designation of an area in 1993 as a redevelopment
project area | 10 | | previously established under the Tax Increment Allocation | 11 | | Redevelopment
Development Act in the Illinois Municipal Code, | 12 | | previously established under
the Industrial Jobs Recovery Law | 13 | | in the Illinois Municipal Code, or previously
established | 14 | | under the Economic Development Area Tax Increment Allocation | 15 | | Act,
by an amount equal to the 1994 equalized assessed value of | 16 | | each taxable lot,
block, tract, or parcel of real property in | 17 | | the redevelopment project area over
and above the initial | 18 | | equalized assessed value of each property in the
redevelopment | 19 | | project area.
In the first year after a municipality
removes a | 20 | | taxable lot, block, tract, or parcel of real property from a
| 21 | | redevelopment project area established under the Tax Increment | 22 | | Allocation Redevelopment
Development Act in the Illinois
| 23 | | Municipal Code, the Industrial Jobs Recovery Law
in the | 24 | | Illinois Municipal Code, or the Economic
Development Area Tax | 25 | | Increment Allocation Act, "recovered tax increment value"
| 26 | | means the amount of the current year's equalized assessed |
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| 1 | | value of each taxable
lot, block, tract, or parcel of real | 2 | | property removed from the redevelopment
project area over and | 3 | | above the initial equalized assessed value of that real
| 4 | | property before removal from the redevelopment project area.
| 5 | | Except as otherwise provided in this Section, "limiting | 6 | | rate" means a
fraction the numerator of which is the last
| 7 | | preceding aggregate extension base times an amount equal to | 8 | | one plus the
extension limitation defined in this Section and | 9 | | the denominator of which
is the current year's equalized | 10 | | assessed value of all real property in the
territory under the | 11 | | jurisdiction of the taxing district during the prior
levy | 12 | | year. For those taxing districts that reduced their aggregate
| 13 | | extension for the last preceding levy year, except for school | 14 | | districts that reduced their extension for educational | 15 | | purposes pursuant to Section 18-206, the highest aggregate | 16 | | extension
in any of the last 3 preceding levy years shall be | 17 | | used for the purpose of
computing the limiting rate. The | 18 | | denominator shall not include new
property or the recovered | 19 | | tax increment
value.
If a new rate, a rate decrease, or a | 20 | | limiting rate increase has been approved at an election held | 21 | | after March 21, 2006, then (i) the otherwise applicable | 22 | | limiting rate shall be increased by the amount of the new rate | 23 | | or shall be reduced by the amount of the rate decrease, as the | 24 | | case may be, or (ii) in the case of a limiting rate increase, | 25 | | the limiting rate shall be equal to the rate set forth
in the | 26 | | proposition approved by the voters for each of the years |
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| 1 | | specified in the proposition, after
which the limiting rate of | 2 | | the taxing district shall be calculated as otherwise provided. | 3 | | In the case of a taxing district that obtained referendum | 4 | | approval for an increased limiting rate on March 20, 2012, the | 5 | | limiting rate for tax year 2012 shall be the rate that | 6 | | generates the approximate total amount of taxes extendable for | 7 | | that tax year, as set forth in the proposition approved by the | 8 | | voters; this rate shall be the final rate applied by the county | 9 | | clerk for the aggregate of all capped funds of the district for | 10 | | tax year 2012.
| 11 | | (Source: P.A. 99-143, eff. 7-27-15; 99-521, eff. 6-1-17; | 12 | | 100-465, eff. 8-31-17; revised 8-12-19.)
| 13 | | Section 10. The Chicago Park District Act is amended by | 14 | | changing Section 20a as follows:
| 15 | | (70 ILCS 1505/20a) (from Ch. 105, par. 333.20a)
| 16 | | Sec. 20a. Bonds; issuance; interest. Notwithstanding | 17 | | anything to the
contrary in Section 20 of this Act, the Chicago | 18 | | Park District is authorized to
issue from time to time bonds of | 19 | | such district in the principal amount of
$84,000,000 for the | 20 | | purpose of paying the cost of erecting, enlarging,
| 21 | | ornamenting, building, rebuilding, rehabilitating and | 22 | | improving any aquarium or
any museum or museums of art, | 23 | | industry, science or natural or other history
located within | 24 | | any public park or parks under the control of the Chicago Park
|
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| 1 | | District, without submitting the question of issuing such | 2 | | bonds to the voters
of the District.
| 3 | | Notwithstanding anything to the contrary in Section 20 of | 4 | | this Act, and in
addition to any other amount of bonds | 5 | | authorized to be issued under this Act,
the Chicago Park | 6 | | District is authorized to issue from time to time, before
| 7 | | January 1, 2004, bonds of the district in the principal amount | 8 | | of $128,000,000
for the purpose of paying the cost of | 9 | | erecting, enlarging, ornamenting,
building, rebuilding, | 10 | | rehabilitating, and improving any aquarium or any museum
or | 11 | | museums of art, industry, science, or natural or other history | 12 | | located
within any public park or parks under the control of | 13 | | the Chicago Park District,
without submitting the question of | 14 | | issuing the bonds to the voters of the
District.
| 15 | | Notwithstanding anything to the contrary in Section 20 of | 16 | | this Act, and in
addition to any other amount of bonds | 17 | | authorized to be issued under this Act,
the Chicago Park | 18 | | District is authorized to issue from time to time bonds of the | 19 | | district in the principal amount of $250,000,000
for the | 20 | | purpose of making contributions to the pension fund | 21 | | established under Article 12 of the Illinois Pension Code
| 22 | | without submitting the question of issuing the bonds to the | 23 | | voters of the
District; except that in any one year, the | 24 | | Chicago Park District may not issue bonds in excess of | 25 | | $75,000,000. Any bond issuances under this subsection are | 26 | | intended to decrease the unfunded liability of the pension |
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| 1 | | fund and shall not decrease the amount of the employer | 2 | | contributions required in any given year under Section 12-149 | 3 | | of the Illinois Pension Code. | 4 | | The bonds authorized under this Section shall be of such | 5 | | denomination
or denominations, may be registerable as to | 6 | | principal only, and shall
mature serially within a period of | 7 | | not to exceed 20 years
or, for bonds issued after the effective | 8 | | date of this amendatory Act of the
93rd General Assembly, | 9 | | within a period
of not
to exceed 30 years, may be
redeemable | 10 | | prior to maturity with or without premium at the option of the
| 11 | | commissioners on such terms and conditions as the | 12 | | commissioners of the Chicago
Park District shall fix by the | 13 | | ordinance authorizing the issuance of such
bonds. The bonds | 14 | | shall bear interest at the rate of not to exceed that
permitted | 15 | | in "An Act to authorize public corporations to issue bonds, | 16 | | other
evidences of indebtedness and tax anticipation warrants | 17 | | subject to interest
rate limitations set forth therein", | 18 | | approved May 26, 1970, as now or hereafter
amended.
| 19 | | Such bonds shall be executed for and on behalf of the Park | 20 | | District
by such officers as shall be specified in the bond | 21 | | ordinance, and one of
such officers may be authorized to | 22 | | execute the bonds by his facsimile
signature, which officer | 23 | | shall adopt as and for his official manual
signature the | 24 | | facsimile signature as it appears upon the bonds.
| 25 | | The ordinance authorizing the issuance of the bonds shall | 26 | | provide for
the levy and collection, in each of the years any |
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| 1 | | of such bonds shall be
outstanding, a tax without limitation | 2 | | as to rate or amount and in
addition to all other taxes upon | 3 | | all the taxable property within the
corporate boundaries of | 4 | | the Chicago Park District, sufficient to pay the
principal of | 5 | | and the interest upon such bonds as the same matures and
| 6 | | becomes due.
| 7 | | A certified copy of the ordinance providing for the | 8 | | issuance of the
bonds and the levying and collecting of the tax | 9 | | to pay the same shall be
filed with the County Clerk of the | 10 | | county in which the Chicago Park
District is located or with | 11 | | the respective County Clerks of each county
in which the | 12 | | Chicago Park District is located. Such ordinance shall be
| 13 | | irrevocable and upon receipt of the certified copy thereof the | 14 | | County
Clerk or County Clerks, as the case may be, shall | 15 | | provide for, assess
and extend the tax as therein provided | 16 | | upon all the taxable property
located within the corporate | 17 | | boundaries of the Chicago Park District, in
the same manner as | 18 | | other park taxes by law shall be provided for,
assessed and | 19 | | extended, and such taxes shall be collected and paid out in
the | 20 | | same manner as other park taxes by law shall be collected and | 21 | | paid.
| 22 | | The interest on any unexpended proceeds of bonds issued | 23 | | under this Section
shall be credited to the Chicago Park | 24 | | District and shall be paid into the
District's general | 25 | | corporate fund. The Chicago Park District may transfer
such | 26 | | amount of interest from the general corporate fund to the |
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| 1 | | aquarium
and museum bond fund.
| 2 | | The amount of the outstanding bonded indebtedness of the | 3 | | Chicago Park
District issued under this Section shall not be | 4 | | included in the bonded
indebtedness of the District in | 5 | | determining whether or not the District
has exceeded its | 6 | | limitation of 1/2 of 1% of the assessed valuation of
all | 7 | | taxable property in the District as last equalized and | 8 | | determined by
the Department of Revenue for the issuance of | 9 | | any bonds authorized under the
provisions of Section 20 of | 10 | | this Act without submitting the question to the
legal voters | 11 | | for approval.
| 12 | | (Source: P.A. 93-338, eff. 7-24-03.)
| 13 | | Section 15. The Illinois Pension Code is amended by | 14 | | changing Sections 1-160, 12-130, 12-133.1, 12-133.2, 12-140, | 15 | | 12-149, and 12-150 as follows:
| 16 | | (40 ILCS 5/1-160)
| 17 | | Sec. 1-160. Provisions applicable to new hires. | 18 | | (a) The provisions of this Section apply to a person who, | 19 | | on or after January 1, 2011, first becomes a member or a | 20 | | participant under any reciprocal retirement system or pension | 21 | | fund established under this Code, other than a retirement | 22 | | system or pension fund established under Article 2, 3, 4, 5, 6, | 23 | | 15 or 18 of this Code, notwithstanding any other provision of | 24 | | this Code to the contrary, but do not apply to any self-managed |
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| 1 | | plan established under this Code, to any person with respect | 2 | | to service as a sheriff's law enforcement employee under | 3 | | Article 7, or to any participant of the retirement plan | 4 | | established under Section 22-101. Notwithstanding anything to | 5 | | the contrary in this Section, for purposes of this Section, a | 6 | | person who participated in a retirement system under Article | 7 | | 15 prior to January 1, 2011 shall be deemed a person who first | 8 | | became a member or participant prior to January 1, 2011 under | 9 | | any retirement system or pension fund subject to this Section. | 10 | | The changes made to this Section by Public Act 98-596 are a | 11 | | clarification of existing law and are intended to be | 12 | | retroactive to January 1, 2011 (the effective date of Public | 13 | | Act 96-889), notwithstanding the provisions of Section 1-103.1 | 14 | | of this Code. | 15 | | This Section does not apply to a person who first becomes a | 16 | | noncovered employee under Article 14 on or after the | 17 | | implementation date of the plan created under Section 1-161 | 18 | | for that Article, unless that person elects under subsection | 19 | | (b) of Section 1-161 to instead receive the benefits provided | 20 | | under this Section and the applicable provisions of that | 21 | | Article. | 22 | | This Section does not apply to a person who first becomes a | 23 | | member or participant under Article 16 on or after the | 24 | | implementation date of the plan created under Section 1-161 | 25 | | for that Article, unless that person elects under subsection | 26 | | (b) of Section 1-161 to instead receive the benefits provided |
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| 1 | | under this Section and the applicable provisions of that | 2 | | Article. | 3 | | This Section does not apply to a person who elects under | 4 | | subsection (c-5) of Section 1-161 to receive the benefits | 5 | | under Section 1-161. | 6 | | This Section does not apply to a person who first becomes a | 7 | | member or participant of an affected pension fund on or after 6 | 8 | | months after the resolution or ordinance date, as defined in | 9 | | Section 1-162, unless that person elects under subsection (c) | 10 | | of Section 1-162 to receive the benefits provided under this | 11 | | Section and the applicable provisions of the Article under | 12 | | which he or she is a member or participant. | 13 | | (b) "Final average salary" means the average monthly (or | 14 | | annual) salary obtained by dividing the total salary or | 15 | | earnings calculated under the Article applicable to the member | 16 | | or participant during the 96 consecutive months (or 8 | 17 | | consecutive years) of service within the last 120 months (or | 18 | | 10 years) of service in which the total salary or earnings | 19 | | calculated under the applicable Article was the highest by the | 20 | | number of months (or years) of service in that period. For the | 21 | | purposes of a person who first becomes a member or participant | 22 | | of any retirement system or pension fund to which this Section | 23 | | applies on or after January 1, 2011, in this Code, "final | 24 | | average salary" shall be substituted for the following: | 25 | | (1) In Article 7 (except for service as sheriff's law | 26 | | enforcement employees), "final rate of earnings". |
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| 1 | | (2) In Articles 8, 9, 10, 11, and 12, "highest average | 2 | | annual salary for any 4 consecutive years within the last | 3 | | 10 years of service immediately preceding the date of | 4 | | withdrawal". | 5 | | (3) In Article 13, "average final salary". | 6 | | (4) In Article 14, "final average compensation". | 7 | | (5) In Article 17, "average salary". | 8 | | (6) In Section 22-207, "wages or salary received by | 9 | | him at the date of retirement or discharge". | 10 | | (b-5) Beginning on January 1, 2011, for all purposes under | 11 | | this Code (including without limitation the calculation of | 12 | | benefits and employee contributions), the annual earnings, | 13 | | salary, or wages (based on the plan year) of a member or | 14 | | participant to whom this Section applies shall not exceed | 15 | | $106,800; however, that amount shall annually thereafter be | 16 | | increased by the lesser of (i) 3% of that amount, including all | 17 | | previous adjustments, or (ii) one-half the annual unadjusted | 18 | | percentage increase (but not less than zero) in the consumer | 19 | | price index-u
for the 12 months ending with the September | 20 | | preceding each November 1, including all previous adjustments. | 21 | | For the purposes of this Section, "consumer price index-u" | 22 | | means
the index published by the Bureau of Labor Statistics of | 23 | | the United States
Department of Labor that measures the | 24 | | average change in prices of goods and
services purchased by | 25 | | all urban consumers, United States city average, all
items, | 26 | | 1982-84 = 100. The new amount resulting from each annual |
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| 1 | | adjustment
shall be determined by the Public Pension Division | 2 | | of the Department of Insurance and made available to the | 3 | | boards of the retirement systems and pension funds by November | 4 | | 1 of each year. | 5 | | (c) A member or participant is entitled to a retirement
| 6 | | annuity upon written application if he or she has attained age | 7 | | 67 (age 65, with respect to service under Article 12 that is | 8 | | subject to this Section, for a member or participant under | 9 | | Article 12 who first becomes a member or participant under | 10 | | Article 12 on or after January 1, 2022 or who makes the | 11 | | election under item (i) of subsection (d-15) of this Section) | 12 | | (beginning January 1, 2015, age 65 with respect to service | 13 | | under Article 12 of this Code that is subject to this Section) | 14 | | and has at least 10 years of service credit and is otherwise | 15 | | eligible under the requirements of the applicable Article. | 16 | | A member or participant who has attained age 62 (age 60, | 17 | | with respect to service under Article 12 that is subject to | 18 | | this Section, for a member or participant under Article 12 who | 19 | | first becomes a member or participant under Article 12 on or | 20 | | after January 1, 2022 or who makes the election under item (i) | 21 | | of subsection (d-15) of this Section) (beginning January 1, | 22 | | 2015, age 60 with respect to service under Article 12 of this | 23 | | Code that is subject to this Section) and has at least 10 years | 24 | | of service credit and is otherwise eligible under the | 25 | | requirements of the applicable Article may elect to receive | 26 | | the lower retirement annuity provided
in subsection (d) of |
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| 1 | | this Section. | 2 | | (c-5) A person who first becomes a member or a participant | 3 | | subject to this Section on or after July 6, 2017 (the effective | 4 | | date of Public Act 100-23), notwithstanding any other | 5 | | provision of this Code to the contrary, is entitled to a | 6 | | retirement annuity under Article 8 or Article 11 upon written | 7 | | application if he or she has attained age 65 and has at least | 8 | | 10 years of service credit and is otherwise eligible under the | 9 | | requirements of Article 8 or Article 11 of this Code, | 10 | | whichever is applicable. | 11 | | (d) The retirement annuity of a member or participant who | 12 | | is retiring after attaining age 62 (age 60, with respect to | 13 | | service under Article 12 that is subject to this Section, for a | 14 | | member or participant under Article 12 who first becomes a | 15 | | member or participant under Article 12 on or after January 1, | 16 | | 2022 or who makes the election under item (i) of subsection | 17 | | (d-15) of this Section) (beginning January 1, 2015, age 60 | 18 | | with respect to service under Article 12 of this Code that is | 19 | | subject to this Section) with at least 10 years of service | 20 | | credit shall be reduced by one-half
of 1% for each full month | 21 | | that the member's age is under age 67 (age 65, with respect to | 22 | | service under Article 12 that is subject to this Section, for a | 23 | | member or participant under Article 12 who first becomes a | 24 | | member or participant under Article 12 on or after January 1, | 25 | | 2022 or who makes the election under item (i) of subsection | 26 | | (d-15) of this Section) (beginning January 1, 2015, age 65 |
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| 1 | | with respect to service under Article 12 of this Code that is | 2 | | subject to this Section) . | 3 | | (d-5) The retirement annuity payable under Article 8 or | 4 | | Article 11 to an eligible person subject to subsection (c-5) | 5 | | of this Section who is retiring at age 60 with at least 10 | 6 | | years of service credit shall be reduced by one-half of 1% for | 7 | | each full month that the member's age is under age 65. | 8 | | (d-10) Each person who first became a member or | 9 | | participant under Article 8 or Article 11 of this Code on or | 10 | | after January 1, 2011 and prior to the effective date of this | 11 | | amendatory Act of the 100th General Assembly shall make an | 12 | | irrevocable election either: | 13 | | (i) to be eligible for the reduced retirement age | 14 | | provided in subsections (c-5)
and (d-5) of this Section, | 15 | | the eligibility for which is conditioned upon the member | 16 | | or participant agreeing to the increases in employee | 17 | | contributions for age and service annuities provided in | 18 | | subsection (a-5) of Section 8-174 of this Code (for | 19 | | service under Article 8) or subsection (a-5) of Section | 20 | | 11-170 of this Code (for service under Article 11); or | 21 | | (ii) to not agree to item (i) of this subsection | 22 | | (d-10), in which case the member or participant shall | 23 | | continue to be subject to the retirement age provisions in | 24 | | subsections (c) and (d) of this Section and the employee | 25 | | contributions for age and service annuity as provided in | 26 | | subsection (a) of Section 8-174 of this Code (for service |
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| 1 | | under Article 8) or subsection (a) of Section 11-170 of | 2 | | this Code (for service under Article 11). | 3 | | The election provided for in this subsection shall be made | 4 | | between October 1, 2017 and November 15, 2017. A person | 5 | | subject to this subsection who makes the required election | 6 | | shall remain bound by that election. A person subject to this | 7 | | subsection who fails for any reason to make the required | 8 | | election within the time specified in this subsection shall be | 9 | | deemed to have made the election under item (ii). | 10 | | (d-15) Each person who first becomes a member or | 11 | | participant under Article 12 on or after January 1, 2011 and | 12 | | prior to January 1, 2022 shall make an irrevocable election | 13 | | either: | 14 | | (i) to be eligible for the reduced retirement age | 15 | | specified in subsections (c) and (d) of this Section, the | 16 | | eligibility for which is conditioned upon the member or | 17 | | participant agreeing to the increase in employee | 18 | | contributions for service annuities specified in | 19 | | subsection (b) of Section 12-150; or | 20 | | (ii) to not agree to item (i) of this subsection | 21 | | (d-15), in which case the member or participant shall not | 22 | | be eligible for the reduced retirement age specified in | 23 | | subsections (c) and (d) of this Section and shall not be | 24 | | subject to the increase in employee contributions for | 25 | | service annuities specified in subsection (b) of Section | 26 | | 12-150. |
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| 1 | | The election provided for in this subsection shall be made | 2 | | between January 1, 2022 and April 1, 2022. A person subject to | 3 | | this subsection who makes the required election shall remain | 4 | | bound by that election. A person subject to this subsection | 5 | | who fails for any reason to make the required election within | 6 | | the time specified in this subsection shall be deemed to have | 7 | | made the election under item (ii). | 8 | | (e) Any retirement annuity or supplemental annuity shall | 9 | | be subject to annual increases on the January 1 occurring | 10 | | either on or after the attainment of age 67 ( age 65, with | 11 | | respect to service under Article 12 that is subject to this | 12 | | Section, for a member or participant under Article 12 who | 13 | | first becomes a member or participant under Article 12 on or | 14 | | after January 1, 2022 or who makes the election under item (i) | 15 | | of subsection (d-15); beginning January 1, 2015, age 65 with | 16 | | respect to service under Article 12 of this Code that is | 17 | | subject to this Section and beginning on the effective date of | 18 | | this amendatory Act of the 100th General Assembly, age 65 with | 19 | | respect to service under Article 8 or Article 11 for eligible | 20 | | persons who: (i) are subject to subsection (c-5) of this | 21 | | Section; or (ii) made the election under item (i) of | 22 | | subsection (d-10) of this Section) or the first anniversary of | 23 | | the annuity start date, whichever is later. Each annual | 24 | | increase shall be calculated at 3% or one-half the annual | 25 | | unadjusted percentage increase (but not less than zero) in the | 26 | | consumer price index-u for the 12 months ending with the |
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| 1 | | September preceding each November 1, whichever is less, of the | 2 | | originally granted retirement annuity. If the annual | 3 | | unadjusted percentage change in the consumer price index-u for | 4 | | the 12 months ending with the September preceding each | 5 | | November 1 is zero or there is a decrease, then the annuity | 6 | | shall not be increased. | 7 | | For the purposes of Section 1-103.1 of this Code, the | 8 | | changes made to this Section by this amendatory Act of the | 9 | | 102nd General Assembly are applicable without regard to | 10 | | whether the employee was in active service on or after the | 11 | | effective date of this amendatory Act of the 102nd General | 12 | | Assembly. | 13 | | For the purposes of Section 1-103.1 of this Code, the | 14 | | changes made to this Section by this amendatory Act of the | 15 | | 100th General Assembly are applicable without regard to | 16 | | whether the employee was in active service on or after the | 17 | | effective date of this amendatory Act of the 100th General | 18 | | Assembly. | 19 | | (f) The initial survivor's or widow's annuity of an | 20 | | otherwise eligible survivor or widow of a retired member or | 21 | | participant who first became a member or participant on or | 22 | | after January 1, 2011 shall be in the amount of 66 2/3% of the | 23 | | retired member's or participant's retirement annuity at the | 24 | | date of death. In the case of the death of a member or | 25 | | participant who has not retired and who first became a member | 26 | | or participant on or after January 1, 2011, eligibility for a |
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| 1 | | survivor's or widow's annuity shall be determined by the | 2 | | applicable Article of this Code. The initial benefit shall be | 3 | | 66 2/3% of the earned annuity without a reduction due to age. A | 4 | | child's annuity of an otherwise eligible child shall be in the | 5 | | amount prescribed under each Article if applicable. Any | 6 | | survivor's or widow's annuity shall be increased (1) on each | 7 | | January 1 occurring on or after the commencement of the | 8 | | annuity if
the deceased member died while receiving a | 9 | | retirement annuity or (2) in
other cases, on each January 1 | 10 | | occurring after the first anniversary
of the commencement of | 11 | | the annuity. Each annual increase shall be calculated at 3% or | 12 | | one-half the annual unadjusted percentage increase (but not | 13 | | less than zero) in the consumer price index-u for the 12 months | 14 | | ending with the September preceding each November 1, whichever | 15 | | is less, of the originally granted survivor's annuity. If the | 16 | | annual unadjusted percentage change in the consumer price | 17 | | index-u for the 12 months ending with the September preceding | 18 | | each November 1 is zero or there is a decrease, then the | 19 | | annuity shall not be increased. | 20 | | (g) The benefits in Section 14-110 apply only if the | 21 | | person is a State policeman, a fire fighter in the fire | 22 | | protection service of a department, a conservation police | 23 | | officer, an investigator for the Secretary of State, an arson | 24 | | investigator, a Commerce Commission police officer, | 25 | | investigator for the Department of Revenue or the
Illinois | 26 | | Gaming Board, a security employee of the Department of |
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| 1 | | Corrections or the Department of Juvenile Justice, or a | 2 | | security employee of the Department of Innovation and | 3 | | Technology, as those terms are defined in subsection (b) and | 4 | | subsection (c) of Section 14-110. A person who meets the | 5 | | requirements of this Section is entitled to an annuity | 6 | | calculated under the provisions of Section 14-110, in lieu of | 7 | | the regular or minimum retirement annuity, only if the person | 8 | | has withdrawn from service with not less than 20
years of | 9 | | eligible creditable service and has attained age 60, | 10 | | regardless of whether
the attainment of age 60 occurs while | 11 | | the person is
still in service. | 12 | | (h) If a person who first becomes a member or a participant | 13 | | of a retirement system or pension fund subject to this Section | 14 | | on or after January 1, 2011 is receiving a retirement annuity | 15 | | or retirement pension under that system or fund and becomes a | 16 | | member or participant under any other system or fund created | 17 | | by this Code and is employed on a full-time basis, except for | 18 | | those members or participants exempted from the provisions of | 19 | | this Section under subsection (a) of this Section, then the | 20 | | person's retirement annuity or retirement pension under that | 21 | | system or fund shall be suspended during that employment. Upon | 22 | | termination of that employment, the person's retirement | 23 | | annuity or retirement pension payments shall resume and be | 24 | | recalculated if recalculation is provided for under the | 25 | | applicable Article of this Code. | 26 | | If a person who first becomes a member of a retirement |
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| 1 | | system or pension fund subject to this Section on or after | 2 | | January 1, 2012 and is receiving a retirement annuity or | 3 | | retirement pension under that system or fund and accepts on a | 4 | | contractual basis a position to provide services to a | 5 | | governmental entity from which he or she has retired, then | 6 | | that person's annuity or retirement pension earned as an | 7 | | active employee of the employer shall be suspended during that | 8 | | contractual service. A person receiving an annuity or | 9 | | retirement pension under this Code shall notify the pension | 10 | | fund or retirement system from which he or she is receiving an | 11 | | annuity or retirement pension, as well as his or her | 12 | | contractual employer, of his or her retirement status before | 13 | | accepting contractual employment. A person who fails to submit | 14 | | such notification shall be guilty of a Class A misdemeanor and | 15 | | required to pay a fine of $1,000. Upon termination of that | 16 | | contractual employment, the person's retirement annuity or | 17 | | retirement pension payments shall resume and, if appropriate, | 18 | | be recalculated under the applicable provisions of this Code. | 19 | | (i) (Blank). | 20 | | (j) In the case of a conflict between the provisions of | 21 | | this Section and any other provision of this Code, the | 22 | | provisions of this Section shall control.
| 23 | | (Source: P.A. 100-23, eff. 7-6-17; 100-201, eff. 8-18-17; | 24 | | 100-563, eff. 12-8-17; 100-611, eff. 7-20-18; 100-1166, eff. | 25 | | 1-4-19; 101-610, eff. 1-1-20.)
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| 1 | | (40 ILCS 5/12-130) (from Ch. 108 1/2, par. 12-130)
| 2 | | Sec. 12-130. Retirement prior to age 60. An employee | 3 | | withdrawing prior
to January 1, 1990 with at least 10 years of | 4 | | service and before attainment
of age 55 shall be entitled at | 5 | | his option to a retirement annuity beginning at age 55.
| 6 | | An employee withdrawing prior to January 1, 1990 with at | 7 | | least 10 years
of service upon or after attainment of age 55, | 8 | | and before age 60, shall be
entitled to a retirement annuity | 9 | | beginning at any time thereafter.
| 10 | | An employee who withdraws on or after January 1, 1990 and | 11 | | has attained age 45 before January 1, 2015 with at least 10
| 12 | | years of service and prior to age 60 shall be entitled, at his | 13 | | option, to a
retirement annuity beginning at any time after | 14 | | withdrawal or attainment of
age 50, whichever occurs later. An | 15 | | employee who has not attained age 45 before January 1, 2015 and | 16 | | withdraws on or after that date with at least 10
years of | 17 | | service and prior to age 60 shall be entitled, at his option, | 18 | | to a
retirement annuity beginning at any time after withdrawal | 19 | | or attainment of
age 58, whichever occurs later.
| 20 | | Notwithstanding Section 1-103.1, the changes to this | 21 | | Section made by this amendatory Act of the 98th General | 22 | | Assembly apply regardless of whether the employee was in | 23 | | active service on or after the effective date of this | 24 | | amendatory Act, but do not apply to a person whose service | 25 | | under this Article is subject to Section 1-160. | 26 | | Any employee upon withdrawal after at least 15 years of |
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| 1 | | service, upon
or after attainment of age 50, and before | 2 | | attainment of age 55, who
received ordinary disability benefit | 3 | | for the maximum period of time
provided herein, and who | 4 | | continues to be disabled, shall be entitled to
a retirement | 5 | | annuity.
| 6 | | The amount of retirement annuity for any employee who | 7 | | entered service
prior to July 1, 1971 shall be provided from | 8 | | the total of the
accumulations as stated in this Section, at | 9 | | the employee's attained age
on the date of retirement:
| 10 | | (a) the accumulation from employee contributions for | 11 | | service annuity
on the date of withdrawal, improved by
| 12 | | regular interest from the date the employee withdraws to | 13 | | the date he
enters upon annuity;
| 14 | | (b) 1/10 of the accumulation, on the date of | 15 | | withdrawal, from
employer contributions for service | 16 | | annuity, for each complete year of
service above 10 years | 17 | | up to 100% of such accumulation, improved by
regular | 18 | | interest from the date the employee withdraws to the date | 19 | | he
enters upon annuity.
| 20 | | (Source: P.A. 86-272; 86-1028.)
| 21 | | (40 ILCS 5/12-133.1) (from Ch. 108 1/2, par. 12-133.1)
| 22 | | Sec. 12-133.1. Annual increase in basic retirement | 23 | | annuity.
| 24 | | (a) Any employee upon withdrawal from service on or after | 25 | | July 1,
1965, and retiring on a retirement annuity, shall be |
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| 1 | | entitled to an annual
increase in his basic retirement annuity | 2 | | as defined herein while he is
in receipt of such annuity.
| 3 | | The term "basic retirement annuity" shall mean the | 4 | | retirement
annuity of the amount fixed and payable at date of | 5 | | retirement of the
employee.
| 6 | | (b) The annual increase in annuity shall be 1 1/2% of the | 7 | | basic retirement
annuity. The increase shall first occur in | 8 | | the month of January or the month
of July, whichever first | 9 | | occurs next following or coincidental with the first
| 10 | | anniversary of retirement. Effective January 1, 1972, the | 11 | | annual rate of
increase in annuity thereafter shall be 2% of | 12 | | the basic retirement annuity,
provided that beginning as of | 13 | | January 1, 1976, the annual rate of increase
shall be 3% of the | 14 | | basic retirement annuity.
| 15 | | (b-1) Notwithstanding subsection (b), all automatic annual | 16 | | increases payable under this Section on or after January 1, | 17 | | 2015 shall be calculated at 3% or one-half the annual | 18 | | unadjusted percentage increase (but not less than 0) in the | 19 | | Consumer Price Index-U for the 12 months ending with the | 20 | | September preceding each November 1, whichever is less, of the | 21 | | originally granted retirement annuity. | 22 | | For the purposes of this Article, "Consumer Price Index-U" | 23 | | means
the index published by the Bureau of Labor Statistics of | 24 | | the United States
Department of Labor that measures the | 25 | | average change in prices of goods and
services purchased by | 26 | | all urban consumers, United States city average, all
items, |
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| 1 | | 1982-84 = 100. The new amount resulting from each annual | 2 | | adjustment shall be determined by the Public Pension Division | 3 | | of the Department of Insurance. | 4 | | Notwithstanding Section 1-103.1, this subsection (b-1) is | 5 | | applicable without regard to whether the employee was in | 6 | | active service on or after the effective date of this | 7 | | amendatory Act of the 98th General Assembly. This subsection | 8 | | (b-1) is also applicable to any former employee who on or after | 9 | | the effective date of this amendatory Act of the 98th General | 10 | | Assembly is receiving a retirement annuity pursuant to the | 11 | | provisions of this Section. | 12 | | (b-2) Notwithstanding any other provision of this Article, | 13 | | no automatic annual increase in retirement annuity payable | 14 | | under this Section shall be granted to any person by the Fund | 15 | | in 2015, 2017, and 2019 under this Article or under Section | 16 | | 1-160 of this Code as it applies to this Article. In the years | 17 | | 2016, 2018, 2020, and thereafter, the Fund shall continue to | 18 | | pay amounts accruing from automatic annual increases in the | 19 | | manner provided by this Code. | 20 | | Notwithstanding Section 1-103.1, this subsection (b-2) is | 21 | | applicable without regard to whether the employee was in | 22 | | active service on or after the effective date of this | 23 | | amendatory Act of the 98th General Assembly. This subsection | 24 | | (b-2) is also applicable to any former employee who on or after | 25 | | the effective date of this amendatory Act of the 98th General | 26 | | Assembly is receiving a retirement annuity pursuant to the |
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| 1 | | provisions of this Article. | 2 | | (c) For an employee who retires with less than 30 years of | 3 | | service, the increase in the basic retirement annuity shall | 4 | | begin
not earlier than in the month of January or the month of | 5 | | July, whichever occurs
first, following or coincidental with | 6 | | the employee's attainment of age 60.
| 7 | | For Subject to the provisions of subsection (b-2), for an | 8 | | employee who retires with at least 30 years of service, the
| 9 | | annual increase under this Section shall begin in the month of | 10 | | January or the
month of July, whichever first occurs next | 11 | | following or coincidental with the
later of (1) the first | 12 | | anniversary of retirement or (2) July 1, 1998, without
regard | 13 | | to the attainment of age 60 and without regard to whether or | 14 | | not the
employee was in service on or after the effective date | 15 | | of this amendatory Act
of 1998.
| 16 | | (d) The increase in the basic retirement annuity shall not | 17 | | be applicable
unless the employee otherwise qualified has made | 18 | | contributions to the fund as
provided herein for an equivalent | 19 | | period of one full year. If such
contributions were not made, | 20 | | the employee may make the required payment to the
fund at the | 21 | | time of retirement, in a single sum, without interest.
| 22 | | (e) The additional contributions by an employee towards | 23 | | the annual
increase in basic retirement annuity shall not be | 24 | | refundable, except to
an employee who withdraws and applies | 25 | | for a refund under this Article,
or dies while in service, and | 26 | | also in cases where a temporary annuity
becomes payable. In |
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| 1 | | such cases his contributions shall be refunded
without | 2 | | interest.
| 3 | | (Source: P.A. 90-766, eff. 8-14-98.)
| 4 | | (40 ILCS 5/12-133.2) (from Ch. 108 1/2, par. 12-133.2)
| 5 | | Sec. 12-133.2. Increases to employee annuitants. The | 6 | | provisions of subsections (b-1) and (b-2) of Section 12-133.1 | 7 | | also apply to the benefits provided under this Section. | 8 | | Employees who
retired on service retirement annuity prior | 9 | | to July 1, 1965 who were at
least 55 years of age at date of | 10 | | retirement and had at least 20 years of
credited service, who | 11 | | shall have attained age 65, and any employee retired
on or | 12 | | after such date who meets such qualifying conditions and who | 13 | | is not
eligible for an annual increase in basic retirement | 14 | | annuity otherwise
provided in this Article, shall be entitled | 15 | | to receive benefits under this
Section.
| 16 | | These benefits shall be in an amount equal to 1 1/2% of the | 17 | | service
retirement annuity multiplied by the number of full | 18 | | years that the annuitant
was in receipt of such annuity. This | 19 | | payment shall begin in January of 1970,
and an additional 1 | 20 | | 1/2% based upon the original grant of annuity shall be
added in | 21 | | January of each year thereafter. Beginning January 1, 1972, | 22 | | the
annual rate of increase in annuity shall be 2% of the | 23 | | original grant of annuity
and shall also apply thereafter to | 24 | | any person who shall have had at least 15
years of credited | 25 | | service and less than 20 years on the same basis as was
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| 1 | | applicable to persons retired with 20 or more years of | 2 | | service; provided that
beginning January 1, 1976, the annual | 3 | | rate of increase in retirement annuity
shall be 3% of the basic | 4 | | retirement annuity.
| 5 | | An employee annuitant who otherwise qualifies for the | 6 | | aforesaid
benefit shall make a one-time contribution of 1% of | 7 | | the final monthly average
salary multiplied by the number of | 8 | | completed years of service forming the
basis of his service | 9 | | retirement annuity, provided that if the annuity was
computed | 10 | | on any other basis, the contribution shall be 1% of the rate of
| 11 | | monthly salary in effect on the date of retirement multiplied | 12 | | by the number of
completed years of service forming the basis | 13 | | of his service retirement annuity.
| 14 | | (Source: P.A. 87-1265.)
| 15 | | (40 ILCS 5/12-140) (from Ch. 108 1/2, par. 12-140)
| 16 | | Sec. 12-140. Duty disability benefit. An employee who | 17 | | becomes
disabled as the direct result of injury incurred in | 18 | | the performance of an
act of duty and cannot perform the duties | 19 | | of the regularly assigned position,
is entitled to receive, | 20 | | while so disabled, a benefit of 75% of the salary
at the date | 21 | | when such duty disability benefits commence,
subject to the | 22 | | conditions hereinafter stated , except that beginning January | 23 | | 1, 2015, such duty disability benefits shall be reduced to 74% | 24 | | of that salary; beginning January 1, 2017, such duty | 25 | | disability benefits shall be reduced to 73% of that salary; |
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| 1 | | and beginning January 1, 2019, such duty disability benefits | 2 | | shall be reduced to 72% of that salary .
| 3 | | In the event an employee returns to service from any duty | 4 | | disability and
renders actual employment in pay status | 5 | | performing the duties of the regularly
assigned position for | 6 | | at least 60 days, and again becomes disabled, whether
due to | 7 | | the previous disability or a new disability, the salary to be | 8 | | used
in the computation of the benefit shall be the salary in | 9 | | effect at the date
of the last day of service prior to the | 10 | | latest disability.
| 11 | | The employee shall also receive a further benefit of $20 | 12 | | per month on account
of each eligible minor child as | 13 | | prescribed in Section 12-137, but the combined
benefit to | 14 | | employee and children shall not exceed the annual salary at | 15 | | the
date of such disability less the sums that would be | 16 | | deducted from his
salary for service annuity and spouse's | 17 | | service annuity.
| 18 | | The benefit prescribed herein shall be payable during | 19 | | disability until
the employee attains age 65, if disability is | 20 | | incurred before age 60, or
for a period of 5 years if | 21 | | disability
is incurred at age 60 or older. If the disability is | 22 | | incurred after age
65, this 5 year period may be reduced if | 23 | | such reduction can be justified on
the basis of actuarial cost | 24 | | data approved by the board upon the
recommendation of the | 25 | | actuary. At such time if the employee
remains disabled the | 26 | | employee may retire on a retirement annuity.
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| 1 | | If an employee dies as the direct result of injury | 2 | | incurred
in the performance of an act of duty, or if death | 3 | | results from any cause
which is compensable under the Workers' | 4 | | Occupational Diseases
Act, a surviving spouse shall be | 5 | | entitled to a benefit (subject to the modifications
stated in | 6 | | Section 12-141) of 50% of the employee's salary as it was at | 7 | | the
date of injury resulting in death, until the date when the | 8 | | employee would
have attained age 65, if injury was incurred | 9 | | under age 60, or for a period
of 5 years if disability is | 10 | | incurred
at age 60 or older. After such
date, the spouse shall | 11 | | be entitled to receive the reversionary annuity that
would | 12 | | have been fixed had the employee continued in service at the | 13 | | rate
of salary received at the date of his injury resulting in | 14 | | death, until the
employee attained age 65 or as stated herein
| 15 | | and had then retired.
| 16 | | If a spouse remarries while under age 55 while in receipt | 17 | | of a benefit
under this section, the benefit shall terminate. | 18 | | Such termination shall
be final and shall not be affected by | 19 | | any change thereafter in his or her
marital status.
| 20 | | Notwithstanding Section 1-103.1, the changes to this | 21 | | Section made by this amendatory Act of the 98th General | 22 | | Assembly apply to duty disability benefits payable on or after | 23 | | January 1, 2015, regardless of whether the recipient is deemed | 24 | | to be in service on or after the effective date of this | 25 | | amendatory Act. | 26 | | (Source: P.A. 86-272.)
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| 1 | | (40 ILCS 5/12-149)
(from Ch. 108 1/2, par. 12-149)
| 2 | | Sec. 12-149. Financing. | 3 | | (a) (a) The board of park commissioners of any such
park | 4 | | district shall annually levy a tax (in addition to the taxes | 5 | | now
authorized by law) upon all taxable property embraced in | 6 | | the district,
at the rate which, when added to the employee | 7 | | contributions under this
Article and applied to the fund | 8 | | created
hereunder, shall be sufficient to provide for the | 9 | | purposes of this
Article in accordance with the provisions | 10 | | thereof. Such tax shall be
levied and collected with and in | 11 | | like manner as the general taxes of
such district, and shall | 12 | | not in any event be included within any
limitations of rate for | 13 | | general park purposes as now or hereafter
provided by law, but | 14 | | shall be excluded therefrom and be in addition
thereto. | 15 | | The amount of such annual tax to and including the year | 16 | | 1977
shall not exceed .0275% of the value, as equalized or | 17 | | assessed by the
Department of Revenue, of all taxable property | 18 | | embraced
within the park district, provided that for the year | 19 | | 1978, and for each
year thereafter, the amount of such annual | 20 | | tax shall be at a rate on the
dollar of assessed valuation of | 21 | | all taxable property that will produce,
when extended, for the | 22 | | year 1978 the following sum: 0.825 times the
amount of | 23 | | employee contributions during the fiscal year 1976; for the
| 24 | | year 1979, 0.85 times the amount of employee contributions | 25 | | during the
fiscal year 1977; for the year 1980, 0.90 times the |
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| 1 | | amount of employee
contributions during the fiscal year 1978; | 2 | | for the year 1981, 0.95 times
the amount of employee | 3 | | contributions during the fiscal year 1979; for the year
1982, | 4 | | 1.00 times the amount of employee contributions during the | 5 | | fiscal year
1980; for the year 1983, 1.05 times the amount of | 6 | | contributions made on behalf
of employees during the fiscal | 7 | | year 1981; and for the year 1984 and each year
thereafter | 8 | | through the year 2019 2013 , an amount equal to 1.10 times the | 9 | | employee contributions during the
fiscal year 2-years prior to | 10 | | the year for which the applicable tax is levied.
Beginning in | 11 | | levy year 2020, and in each year thereafter, the levy shall not | 12 | | exceed the amount of the Park District's total required | 13 | | contribution to the Fund for the next payment year, as | 14 | | determined under this subsection. Beginning payment year 2021, | 15 | | the Park District's required annual contribution shall be as | 16 | | follows: For the year 2014, this calculation shall be 1.10 | 17 | | times the amount of employee contributions during the 12-month | 18 | | fiscal year ending June 30, 2012; and for the year 2015, this | 19 | | calculation shall be 1.70 times the amount of employee | 20 | | contributions during the 12-month fiscal year ending December | 21 | | 31, 2013. For the year 2016, this calculation shall be an | 22 | | amount equal to 1.70 times; for the years 2017 and 2018, this | 23 | | calculation shall be an amount equal to 2.30 times; and for the | 24 | | year 2019 and each year thereafter, until the Fund attains a | 25 | | funded ratio of at least 90% with the funded ratio being the | 26 | | ratio of the actuarial value of assets to the total actuarial |
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| 1 | | liability, this calculation shall be an amount equal to 2.90 | 2 | | times the employee contributions during the
fiscal year 2 | 3 | | years prior to the year for which the applicable tax is levied. | 4 | | Beginning in the fiscal year in which the Fund attains a | 5 | | funding ratio of at least 90%, the contribution shall be the | 6 | | lesser of (1) 2.90 times the employee contributions during the | 7 | | fiscal year 2 years prior to the year for which the applicable | 8 | | tax is levied, or (2) the amount needed to maintain a funded | 9 | | ratio of 90%. | 10 | | For payment year 2021, the Park District's required annual | 11 | | contribution to the Fund shall be one-fourth of the amount, as | 12 | | determined by an actuary retained by the Fund, equal to the sum | 13 | | of (i) the Park District's portion of the projected normal | 14 | | cost for that fiscal year, plus (ii) an amount determined by an | 15 | | actuary retained by the Fund, using a 35-year period starting | 16 | | on December 31, 2020 with the entry age normal actuarial cost | 17 | | method, that is sufficient to bring the total actuarial assets | 18 | | of the Fund up to 100% of the total actuarial accrued | 19 | | liabilities of the Fund by the end of 2055. | 20 | | For payment year 2022, the Park District's required annual | 21 | | contribution to the Fund shall be one-half of the amount, as | 22 | | determined by an actuary retained by the Fund, equal to the sum | 23 | | of (i) the Park District's portion of the projected normal | 24 | | cost for that fiscal year, plus (ii) an amount determined by an | 25 | | actuary retained by the Fund, using a 35-year period starting | 26 | | on December 31, 2021 with the entry age normal actuarial cost |
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| 1 | | method, that is sufficient to bring the total actuarial assets | 2 | | of the Fund up to 100% of the total actuarial accrued | 3 | | liabilities of the Fund by the end of 2056. | 4 | | For payment year 2023, the Park District's required annual | 5 | | contribution to the Fund shall be three-fourths of the amount, | 6 | | as determined by an actuary retained by the Fund, equal to the | 7 | | sum of (i) the Park District's portion of the projected normal | 8 | | cost for that fiscal year, plus (ii) an amount determined by an | 9 | | actuary retained by the Fund, using a 35-year period starting | 10 | | on December 31, 2022 with the entry age normal actuarial cost | 11 | | method, that is sufficient to bring the total actuarial assets | 12 | | of the Fund up to 100% of the total actuarial accrued | 13 | | liabilities of the Fund by the end of 2057. | 14 | | For payment years 2024 through 2058, the Park District's | 15 | | required annual contribution to the Fund shall be the amount, | 16 | | as determined by an actuary retained by the Fund, equal to the | 17 | | sum of (i) the Park District's portion of the projected normal | 18 | | cost for that fiscal year, plus (ii) an amount determined by an | 19 | | actuary retained by the Fund, using a 35-year period starting | 20 | | on December 31, 2023 with the entry age normal actuarial cost | 21 | | method, that is sufficient to bring the total actuarial assets | 22 | | of the Fund up to 100% of the total actuarial accrued | 23 | | liabilities of the Fund by the end of 2058. | 24 | | For payment year 2059 and each year thereafter, the Park | 25 | | District's required annual contribution to the Fund shall be | 26 | | the amount, as determined by an actuary retained by the Fund, |
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| 1 | | if any, needed to bring the total actuarial assets of the Fund | 2 | | up to 100% of the total actuarial accrued liabilities of the | 3 | | Fund, using the entry age normal actuarial cost method, as of | 4 | | the end of the year. | 5 | | In making determinations under this subsection, any | 6 | | actuarial gains or losses from investment returns that differ | 7 | | from the expected investment returns incurred in a fiscal year | 8 | | shall be recognized in equal annual amounts over the 5-year | 9 | | period following the fiscal year. | 10 | | As used in this Section, "payment year" means the year | 11 | | immediately following the levy year. | 12 | | (b) In addition to the contributions required under the | 13 | | other provisions of this Article, no later than November 1, | 14 | | 2021 the employer shall contribute $40,000,000 to the Fund. | 15 | | The additional employer contributions required under this | 16 | | subsection (b) are intended to decrease the unfunded liability | 17 | | of the Fund and shall not decrease the amount of the employer | 18 | | contributions required under the other provisions of this | 19 | | Article. The additional employer contributions made under this | 20 | | subsection (b) may be used by the Fund for any of its lawful | 21 | | purposes. In addition to the contributions required under the | 22 | | other provisions of this Article, by November 1 of the | 23 | | following specified years, the employer shall contribute to | 24 | | the Fund the following specified amounts: $12,500,000 in 2015; | 25 | | $12,500,000 in 2016; and $50,000,000 in 2019. The additional | 26 | | employer contributions required under this subsection (a) are |
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| 1 | | intended to decrease the unfunded liability of the Fund and | 2 | | shall not decrease the amount of the employer contributions | 3 | | required under the other provisions of this Article. The | 4 | | additional employer contributions made under this subsection | 5 | | (a) may be used by the Fund for any of its lawful purposes. | 6 | | (c) (b) As used in this Section, the term "employee | 7 | | contributions" means contributions
by employees for retirement | 8 | | annuity, spouse's annuity, automatic increase in
retirement | 9 | | annuity, and death benefit.
| 10 | | In making required contributions under this Section, the | 11 | | employer may, in lieu of levying all or a portion of the tax | 12 | | required under this Section, deposit an amount not less than | 13 | | the required amount of employer contributions derived from any | 14 | | source legally available for that purpose. In making required | 15 | | contributions under this Section, the employer may, in lieu of | 16 | | levying all or a portion of the tax required under this | 17 | | Section, deposit an amount not less than the required amount | 18 | | of employer contributions derived from any source legally | 19 | | available for that purpose. | 20 | | (d) (c) In respect to park district employees, other than | 21 | | policemen, who are
transferred to the employment of a city by | 22 | | virtue of the "Exchange of
Functions Act of 1957", the | 23 | | corporate authorities of the city shall
annually levy a tax | 24 | | upon all taxable property embraced in the city, as
equalized | 25 | | or assessed by the Department of Revenue, at such rate per
cent | 26 | | of the value of such property as shall be sufficient, when |
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| 1 | | added
to the amounts deducted from the salary or wages of such | 2 | | employees, to
provide the benefits to which such employees, | 3 | | their dependents and
beneficiaries are entitled under the | 4 | | provisions of this Article. The
park district shall not levy a | 5 | | tax hereunder in respect to such
employees. The tax levied by | 6 | | the city under authority of this Article
shall be in addition | 7 | | to and exclusive of all other taxes authorized by
law to be | 8 | | levied by the city for corporate, annuity fund or other
| 9 | | purposes.
| 10 | | (e) (d) All moneys accruing from the levy and collection | 11 | | of taxes, pursuant
to this section, shall be remitted to the | 12 | | board by the employers as soon
as they are received. Where a | 13 | | city has levied a tax pursuant to this
Section in respect to | 14 | | park district employees transferred to the
employment of a | 15 | | city, the treasurer of such city or other authorized
officer | 16 | | shall remit the moneys accruing from the levy and collection | 17 | | of
such tax as soon as they are received. Such remittances | 18 | | shall be made
upon a pro rata share basis, whereby each | 19 | | employer shall pay to the
board such employer's proportionate | 20 | | percentage of each payment of taxes
received by it, according | 21 | | to the ratio which its tax levy for this fund
bears to the | 22 | | total tax levy of such employer.
| 23 | | (f) (e) Should any board of park commissioners included | 24 | | under the provisions
of this Article be without authority to | 25 | | levy the tax provided in this
Section the corporation | 26 | | authorities (meaning the supervisor, clerk and
assessor) of |
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| 1 | | the town or towns for which such board shall be the board
of | 2 | | park commissioners shall levy such tax.
| 3 | | (g) (f) Employer contributions to the Fund may be reduced | 4 | | by $5,000,000 for
calendar years 2004 and 2005.
| 5 | | (Source: P.A. 97-973, eff. 8-16-12.)
| 6 | | (40 ILCS 5/12-150) (from Ch. 108 1/2, par. 12-150)
| 7 | | Sec. 12-150. Contributions by employees for service
| 8 | | annuity. | 9 | | (a) From each payment of salary to a present employee | 10 | | beginning
August 4, 1961, and prior to September 1, 1971, | 11 | | there shall be deducted
as contributions for service annuity | 12 | | 6% of such payment. Beginning
September 1, 1971, the deduction | 13 | | shall be 6 1/2% of salary. Beginning
January 1, 2015, the | 14 | | deduction shall be 8% of salary.
Beginning January 1, 2017, | 15 | | the deduction shall be 9% of salary. Beginning January 1, | 16 | | 2019, the deduction shall be 10% of salary. These
| 17 | | contributions shall continue until the amounts thus deducted | 18 | | will
provide an accumulation, at regular interest, at least | 19 | | equal to the
amount that would be provided on such date from | 20 | | employee contributions,
assuming regular interest to such | 21 | | date, if such employee had been
contributing in accordance | 22 | | with the provisions of "The 1919 Act" and
this Article from the | 23 | | beginning of his service and the salary of the
employee during | 24 | | his prior service was the same as it was on July 1,
1919, or on | 25 | | July 1, 1937 in the case of an employee of the board.
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| 1 | | (b) From each payment of salary to a future entrant | 2 | | beginning August
4, 1961, and prior to September 1, 1971, | 3 | | there shall be deducted as
contributions for service annuity | 4 | | 6% of such payment. Beginning
September 1, 1971, the deduction | 5 | | shall be 6 1/2% of salary.
Beginning January 1, 1990, the | 6 | | deduction shall be 7% of salary , except that the deduction | 7 | | shall be 9% of salary for a person who first becomes an | 8 | | employee on or after January 1, 2022 or who makes the election | 9 | | under item (i) of subsection (d-15) of Section 1-160 . | 10 | | Beginning
January 1, 2015, the deduction shall be 8% of | 11 | | salary.
Beginning January 1, 2017, the deduction shall be 9% | 12 | | of salary. Beginning January 1, 2019, the deduction shall be | 13 | | 10% of salary. Beginning with the first pay period on or after | 14 | | the date when the funded ratio of the Fund is first determined | 15 | | to have reached the 90% funding goal, and each pay period | 16 | | thereafter for as long as the Fund maintains a funding ratio of | 17 | | 90% or more, employee contributions shall be 8.5% of salary | 18 | | for the service annuity. If the funding ratio falls below 90%, | 19 | | then employee contributions for the service annuity shall | 20 | | revert to 10% of salary until such time as the Fund once again | 21 | | is determined to have reached the 90% funding goal, at which | 22 | | time the 8.5% of salary employee contribution for the service | 23 | | annuity shall resume.
| 24 | | (c) For service rendered prior to August 4, 1961, the | 25 | | rates of
contribution by employees for service annuity shall | 26 | | be as follows: July
1, 1919 to July 20, 1947, inclusive, 4% of |
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| 1 | | salary; July 21, 1947 to
August 3, 1961, inclusive, 5% of | 2 | | salary.
| 3 | | For the period from July 1, 1919, to August 4, 1961 such | 4 | | deductions
for a present employee shall continue until such | 5 | | date as the amounts
deducted will provide an accumulation at | 6 | | least equal to that which would
be provided on such date, | 7 | | assuming regular interest to such date, from
deductions from | 8 | | salary of such employee if such employee had been under
the | 9 | | provisions of "The 1919 Act" and this Article from the | 10 | | beginning of
his service and the salary of such employee | 11 | | during his period of prior
service was the same as it was on | 12 | | July 1, 1919 or on July 1, 1937 in the
case of an employee of | 13 | | the board.
| 14 | | (d) Any employee shall have the option to contribute for | 15 | | service
annuity an amount, together with regular interest, | 16 | | equal to the
difference between the amount he had accumulated | 17 | | in the fund on June 30,
1947, from contributions at the rate of | 18 | | 4% of salary, together with
regular interest, and the amount | 19 | | he would have accumulated, together
with regular interest, if | 20 | | he had made contributions at the rate of 5% of
salary. All such | 21 | | contributions shall be subject to salary limitations
and other | 22 | | conditions in effect prior to July 1, 1947. Upon making such
| 23 | | contribution the employer of such employee shall contribute in | 24 | | the ratio
of 2 to 1 with such employee.
| 25 | | (Source: P.A. 86-272.)
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| 1 | | Section 20. (a) Public Act 98-622 added Section 12-195 to | 2 | | the Illinois Pension Code. Section 97 of Public Act 98-622 | 3 | | provided: | 4 | | The changes
made by this amendatory Act are | 5 | | inseverable, except that
Section 12-195 of the Illinois | 6 | | Pension Code is severable under
Section 1.31 of the | 7 | | Statute on Statutes. | 8 | | (b) On March 1, 2018, the Circuit Court of Cook County | 9 | | entered a Memorandum and Order in David Biedron, et al. v.
Park | 10 | | Employees' and Retirement Board Employees' Annuity and Benefit | 11 | | Fund, et al., case number 15 CH 14869. The Memorandum and | 12 | | Order, inter alia, held:
| 13 | | The legislative history of Public Act 098-0622 is | 14 | | clear that its purpose was to establish a comprehensive | 15 | | scheme to reform the Fund and enable it to achieve | 16 | | long-term financial stability. (District's MSJ. Ex, B). It | 17 | | is clear from the Act itself and the legislative history | 18 | | that the provisions of the Act were intended to work | 19 | | together to achieve this purpose. Section 12-195, the sole | 20 | | remaining provision of the Act, cannot by itself | 21 | | accomplish the General Assembly's purpose in enacting | 22 | | Public Act 098-0622. The invalidation of every provision | 23 | | of the Act except §12-195 severely undercuts the General | 24 | | Assembly's purpose in enacting Public Act 098-0622 and, | 25 | | therefore, §12-195 is also inseverable.
| 26 | | Based on Public Act 098-0622's severability provision |
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| 1 | | and Illinois case law, the unchallenged sections of Public | 2 | | Act 098-0622 are not severable and the entire Act must be | 3 | | declared void. Plaintiffs are entitled to a declaration | 4 | | that Public Act 098-0622 is unconstitutional and | 5 | | unenforceable in its entirety under the Pension Clause. | 6 | | An Agreed Order was entered in that case on January 8, 2019 | 7 | | to resolve certain matters. | 8 | | (c) The purpose of the reenactment of Section 12-195 of | 9 | | the Illinois Pension Code in Section 20 of this Act is to | 10 | | remove any question as to the validity or content of Section | 11 | | 12-195 of the Illinois Pension Code. This Act is not intended | 12 | | to supersede any other Public Act that amends the text of | 13 | | Section 12-195 of the Illinois Pension Code. | 14 | | Section 25. Section 12-195 of the Illinois Pension Code is | 15 | | reenacted as follows: | 16 | | (40 ILCS 5/12-195) | 17 | | Sec. 12-195. Application and expiration of new benefit | 18 | | increases. | 19 | | (a) As used in this Section, "new benefit increase" means | 20 | | an increase in the amount of any benefit provided under this | 21 | | Article, or an expansion of the conditions of eligibility for | 22 | | any benefit under this Article, that results from an amendment | 23 | | to this Code that takes effect after the effective date of this | 24 | | amendatory Act of the 98th General Assembly. |
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| 1 | | (b) Notwithstanding any other provision of this Code or | 2 | | any subsequent amendment to this Code, every new benefit | 3 | | increase is subject to this Section and shall be deemed to be | 4 | | granted only in conformance with and contingent upon | 5 | | compliance with the provisions of this Section. | 6 | | (c) The Public Act enacting a new benefit increase must | 7 | | identify and provide for payment to the Fund of additional | 8 | | funding at least sufficient to fund the resulting annual | 9 | | increase in cost to the Fund as it accrues. | 10 | | Every new benefit increase is contingent upon the General | 11 | | Assembly providing the additional funding required under this | 12 | | subsection (c). The State Actuary shall analyze whether | 13 | | adequate additional funding has been provided for the new | 14 | | benefit increase. A new benefit increase created by a Public | 15 | | Act that does not include the additional funding required | 16 | | under this subsection (c) is null and void. If the State | 17 | | Actuary determines that the additional funding provided for a | 18 | | new benefit increase under this subsection (c) is or has | 19 | | become inadequate, it may so certify to the Governor and the | 20 | | State Comptroller and, in the absence of corrective action by | 21 | | the General Assembly, the new benefit increase shall expire at | 22 | | the end of the fiscal year in which the certification is made.
| 23 | | (Source: P.A. 98-622, eff. 6-1-14 .) | 24 | | (40 ILCS 5/12-150.5 rep.) | 25 | | (40 ILCS 5/12-155.5 rep.) |
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| 1 | | Section 30. The Illinois Pension Code is amended by | 2 | | repealing Sections 12-150.5 and 12-155.5. | 3 | | Section 90. The State Mandates Act is amended by adding | 4 | | Section 8.45 as follows: | 5 | | (30 ILCS 805/8.45 new) | 6 | | Sec. 8.45. Exempt mandate. Notwithstanding Sections 6 and | 7 | | 8 of this Act, no reimbursement by the State is required for | 8 | | the implementation of any mandate created by this amendatory | 9 | | Act of the 102nd General Assembly.
| 10 | | Section 99. Effective date. This Act takes effect upon | 11 | | becoming law.".
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