Full Text of HB4940 96th General Assembly
HB4940eng 96TH GENERAL ASSEMBLY
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Commission on Government Forecasting and | 5 |
| Accountability Act is amended by changing Section 3 as follows: | 6 |
| (25 ILCS 155/3) (from Ch. 63, par. 343) | 7 |
| Sec. 3. Duties of the Commission. The Commission shall:
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| (1) Study from time to time and report to the General | 9 |
| Assembly on
economic development and trends in the State.
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| (2) Make such special economic and fiscal studies as it | 11 |
| deems
appropriate or desirable or as the General Assembly may | 12 |
| request.
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| (3) Based on its studies, recommend such State fiscal and | 14 |
| economic
policies as it deems appropriate or desirable to | 15 |
| improve the functioning
of State government and the economy of | 16 |
| the various regions within the
State.
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| (4) Prepare annually a State economic report.
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| (5) Provide information for all appropriate legislative
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| organizations and personnel on economic trends in relation to | 20 |
| long range
planning and budgeting.
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| (6) Study and make such recommendations as it deems | 22 |
| appropriate to
the General Assembly on local and regional | 23 |
| economic and fiscal policy
and on federal fiscal policy as it |
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| may affect Illinois.
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| (7) Review capital expenditures, appropriations and | 3 |
| authorizations
for both the State's general obligation and | 4 |
| revenue bonding authorities.
At the direction of the | 5 |
| Commission, specific reviews may include
economic feasibility | 6 |
| reviews of existing or proposed revenue bond
projects to | 7 |
| determine the accuracy of the original estimate of useful
life | 8 |
| of the projects, maintenance requirements and ability to meet | 9 |
| debt
service requirements through their operating expenses.
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| (8) Receive and review all executive agency and revenue | 11 |
| bonding
authority annual and 3 year plans. The Commission shall | 12 |
| prepare a
consolidated review of these plans, an updated | 13 |
| assessment of current
State agency capital plans, a report on | 14 |
| the outstanding and unissued
bond authorizations, an | 15 |
| evaluation of the State's ability to market
further bond issues | 16 |
| and shall submit them as the "Legislative Capital
Plan | 17 |
| Analysis" to the House and Senate Appropriations Committees at
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| least once a year. The Commission shall annually submit to the | 19 |
| General
Assembly on the first Wednesday of April a report on | 20 |
| the State's long-term
capital needs, with particular emphasis | 21 |
| upon and detail of the 5-year
period in the immediate future.
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| (9) Study and make recommendations it deems appropriate to | 23 |
| the
General Assembly on State bond financing, bondability | 24 |
| guidelines, and
debt management. At the direction of the | 25 |
| Commission, specific studies
and reviews may take into | 26 |
| consideration short and long-run implications
of State bonding |
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| and debt management policy.
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| (10) Comply with the provisions of the "State Debt
Impact | 3 |
| Note Act" as now or hereafter amended.
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| (11) Comply with the provisions of the Pension Impact Note | 5 |
| Act, as now
or hereafter amended.
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| (12) By August 1st of each year, the Commission must | 7 |
| prepare and cause to
be published a summary report of State | 8 |
| appropriations for the State fiscal year
beginning the previous | 9 |
| July 1st. The summary report must discuss major
categories of | 10 |
| appropriations, the issues the General Assembly faced in
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| allocating appropriations, comparisons with appropriations for | 12 |
| previous
State fiscal years, and other matters helpful in | 13 |
| providing the citizens of
Illinois with an overall | 14 |
| understanding of appropriations for that fiscal year.
The | 15 |
| summary report must be written in plain language and designed | 16 |
| for
readability. Publication must be in newspapers of general | 17 |
| circulation in the
various areas of the State to ensure | 18 |
| distribution statewide. The summary
report must also be | 19 |
| published on the General Assembly's web site.
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| (13) Comply with the provisions of the State Facilities | 21 |
| Closure Act.
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| (14) Submit a quarterly report to the General Assembly that | 23 |
| contains the information received by the Commission under | 24 |
| Section 2-139.1 of the Illinois Pension Code. | 25 |
| The requirement for reporting to the General Assembly shall | 26 |
| be satisfied
by filing copies of the report with the Speaker, |
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| the Minority Leader and
the Clerk of the House of | 2 |
| Representatives and the President, the Minority
Leader and the | 3 |
| Secretary of the Senate and the Legislative
Research
Unit, as | 4 |
| required by Section 3.1 of the General Assembly
Organization | 5 |
| Act, and
filing such additional copies with the State | 6 |
| Government Report Distribution
Center for the General Assembly | 7 |
| as is required under paragraph (t) of
Section 7 of the State | 8 |
| Library Act.
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| (Source: P.A. 92-67, eff. 7-12-01; 93-632, eff. 2-1-04; 93-839, | 10 |
| eff. 7-30-04.)
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| Section 10. The Illinois Pension Code is amended by adding | 12 |
| Section 2-139.1 as follows: | 13 |
| (40 ILCS 5/2-139.1 new) | 14 |
| Sec. 2-139.1. To submit a quarterly report to the | 15 |
| Commission on Government Forecasting and Accountability. To | 16 |
| submit a quarterly report to the Commission on Government | 17 |
| Forecasting and Accountability, which shall include the | 18 |
| following: | 19 |
| (1) The name and current salary, according to data in | 20 |
| the possession of the System, for each participant in the | 21 |
| System who (A) first became a member of the System before | 22 |
| August 22, 1994 (the effective date of Public Act 88-593); | 23 |
| (B) has not begun receiving a retirement annuity under this | 24 |
| Article; and (C) is employed in a position covered by a |
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| participating system under the Retirement Systems | 2 |
| Reciprocal Act and the name of his or her current employer. | 3 |
| (2) Beginning with the second quarterly report after | 4 |
| the effective date of this Section, the name of each | 5 |
| participant who has begun receiving a retirement annuity | 6 |
| under this Article since the preceding quarterly report | 7 |
| and, if the salary used to calculate his or her | 8 |
| proportional annuity under this Article is higher than his | 9 |
| or her highest salary for annuity purposes would have been | 10 |
| if he or she were not exempted from the earnings limitation | 11 |
| under subsection (a) of Section 2-108.1, the salary level | 12 |
| used to calculate his or her proportional annuity and the | 13 |
| name of his or her employer under the other participating | 14 |
| system.
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| Section 99. Effective date. This Act takes effect upon | 16 |
| becoming law.
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