Illinois Compiled Statutes
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40 ILCS 5/6-165
(40 ILCS 5/6-165)
(from Ch. 108 1/2, par. 6-165)
(a) Except as expressly provided in this
Section, each city shall levy a tax annually upon all
taxable property therein for the purpose of providing revenue for the
fund. For the years prior to the year 1960, the tax rate shall be as
provided for in the "Firemen's Annuity and Benefit Fund of the Illinois
Municipal Code". The tax, from and after January 1, 1968 to and
including the year 1971, shall not exceed .0863% of the value, as
equalized or assessed by the Department of Revenue, of
all taxable property in the city. Beginning with the year 1972 and through 2014, the city shall levy a tax annually at a rate on the
dollar of the value, as equalized or assessed by the Department of Revenue
of all taxable property within such city that will
produce, when extended, not to exceed an amount equal to the total
amount of contributions by the employees to the fund made in the
calendar year 2 years prior to the year for which the annual applicable
tax is levied, multiplied by 2.23 through the calendar year 1981, and by
2.26 for the year 1982 and for each tax levy year through 2014. Beginning in tax levy year 2015, the city council shall levy a tax annually at a rate on the dollar of the assessed valuation of all taxable property that will produce when extended an annual amount that is equal to no less than the amount of the city's contribution in each of the following payment years: for 2016, $199,000,000; for 2017, $208,000,000; for 2018, $227,000,000; for 2019, $235,000,000; for 2020, $245,000,000.
Beginning in tax levy year 2020, the city council shall levy a tax annually at a rate on the dollar of the assessed valuation of all taxable property that will produce when extended an annual amount that is equal to no less than (1) the normal cost to the Fund, plus (2) an annual amount sufficient to bring the total assets of the Fund up to 90% of the total actuarial liabilities of the Fund by the end of fiscal year 2055, as annually updated and determined by an enrolled actuary employed by the Illinois Department of Insurance or by an enrolled actuary retained by the Fund or the city. In making these determinations, the required minimum employer contribution shall be calculated each year as a level percentage of payroll over the years remaining up to and including fiscal year 2055 and shall be determined under the entry age normal actuarial cost method. Beginning in payment year 2056, the city's required contribution in that year and for each year thereafter shall be an annual amount that is equal to no less than (1) the normal cost to the Fund, plus (2) the annual amount determined by an enrolled actuary employed by the Illinois Department of Insurance or by an enrolled actuary retained by the Fund to be equal to the amount, if any, needed to bring the total actuarial assets of the Fund up to 90% of the total actuarial liabilities of the Fund as of the end of the year, utilizing the entry age normal actuarial cost method as provided above.
To provide revenue for the ordinary death benefit established by
Section 6-150 of this Article, in addition to the contributions by the firemen
for this purpose, the city council shall for the
year 1962 and each year thereafter annually levy a tax, which shall be
in addition to and exclusive of the taxes authorized to be levied under
the foregoing provisions of this Section, upon all taxable property in
the city, as equalized or assessed by the Department of Revenue, at such
rate per cent of the value of such property as shall be
sufficient to produce for each year the sum of $142,000.
The amounts produced by the taxes levied annually, together with the
deposit expressly authorized in this Section, shall be
sufficient, when added to the amounts deducted from the salaries of
firemen and applied to the fund, to provide for the purposes of the
(a-5) For purposes of determining the required employer contribution to the Fund, the value of the Fund's assets shall be equal to the actuarial value of the Fund's assets, which shall be calculated as follows:
(1) On March 30, 2011, the actuarial value of the
Fund's assets shall be equal to the market value of the assets as of that date.
(2) In determining the actuarial value of the Fund's
assets for fiscal years after March 30, 2011, any actuarial gains or losses from investment return incurred in a fiscal year shall be recognized in equal annual amounts over the 5-year period following that fiscal year.
(a-7) If the city fails to transmit to the Fund contributions required of it under this Article for more than 90 days after the payment of those contributions is due, the Fund shall, after giving notice to the city, certify to the State Comptroller the amounts of the delinquent payments, and the Comptroller must, beginning in fiscal year 2016, deduct and deposit into the Fund the certified amounts or a portion of those amounts from the following proportions of grants of State funds to the city:
(1) in fiscal year 2016, one-third of the total
amount of any grants of State funds to the city;
(2) in fiscal year 2017, two-thirds of the total
amount of any grants of State funds to the city; and
(3) in fiscal year 2018 and each fiscal year
thereafter, the total amount of any grants of State funds to the city.
The State Comptroller may not deduct from any grants of State funds to the city more than the amount of delinquent payments certified to the State Comptroller by the Fund.
(b) The taxes shall be levied and collected in like manner with the
general taxes of the city, and shall be in addition to all other taxes
which the city may levy upon all taxable property therein and shall be
exclusive of and in addition to the amount of tax the city may levy for
general purposes under Section 8-3-1 of the Illinois Municipal Code,
approved May 29, 1961, as amended, or under any other law or laws which
may limit the amount of tax which the city may levy for general
(c) The amounts of the taxes to be levied in each year shall be
certified to the city council by the board.
(d) As soon as any revenue derived from such taxes is collected, it
shall be paid to the city treasurer and held for the benefit of the fund, and
all such revenue shall be paid into the fund in accordance with the
provisions of this Article.
(e) If the funds available are insufficient during any year to
meet the requirements of this Article, the city may issue tax anticipation
warrants, against the tax levies herein authorized for the current
(f) The various sums, hereinafter stated, including interest, to be
contributed by the city, shall be taken from the revenue derived from the taxes
or otherwise as expressly provided in this Section. Except for defraying the
cost of administration of the fund during the calendar year in which a city
first attains a population of 500,000 and comes under the provisions of this
Article and the first calendar year thereafter, any money of the city derived
from any source other than these taxes or the sale of tax anticipation warrants
shall not be used to provide revenue for the fund, nor to pay any part of the
cost of administration thereof, unless applied to make the deposit expressly
authorized in this Section
or the additional city contributions required under subsection (h).
(g) In lieu of levying all or a portion of the tax required under this
Section in any year, the city may deposit with the city treasurer no later than
March 1 of that year for the benefit of the fund, to be held in accordance with
this Article, an amount that, together with the taxes levied under this Section
for that year, is not less than the amount of the city contributions for that
year as certified by the board to the city council. The deposit may be derived
from any source legally available for that purpose, including, but not limited
to, the proceeds of city borrowings. The making of a deposit shall satisfy
fully the requirements of this Section for that year to the extent of the
amounts so deposited. Amounts deposited under this subsection may be used
by the fund for any of the purposes for which the proceeds of the taxes levied
under this Section may be used, including the payment of any amount that is
otherwise required by this Article to be paid from the proceeds of those
(h) In addition to the contributions required under the other provisions
of this Article, by November 1 of the following specified years, the city shall
deposit with the city treasurer for the benefit of the fund, to be held and
used in accordance with this Article, the following specified amounts:
$6,300,000 in 1999;
$5,880,000 in 2000;
$5,460,000 in 2001;
$5,040,000 in 2002; and
$4,620,000 in 2003.
The additional city contributions required under this subsection are
intended to decrease the unfunded liability of the fund and shall not decrease
the amount of the city contributions required under the other provisions of
this Article. The additional city contributions made under this subsection
may be used by the fund for any of its lawful purposes.
(i) Any proceeds received by the city in relation to the operation of a casino or casinos within the city shall be expended by the city for payment to the Firemen's Annuity and Benefit Fund of Chicago to satisfy the city contribution obligation in any year.
(Source: P.A. 99-506, eff. 5-30-16.)