Bill Status of HB 3376   101st General Assembly

Short Description:  PENSION & EDUCATION FUNDING

House Sponsors
Rep. Mark Batinick

Last Action  View All Actions

DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 20/50-21 new
30 ILCS 105/5.891 new
30 ILCS 105/6z-107 new
35 ILCS 200/18-45
40 ILCS 5/1-103.3
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/2-134from Ch. 108 1/2, par. 2-134
40 ILCS 5/14-131
40 ILCS 5/14-135.08from Ch. 108 1/2, par. 14-135.08
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-165from Ch. 108 1/2, par. 15-165
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 5/18-140from Ch. 108 1/2, par. 18-140
105 ILCS 5/2-3.176 new
30 ILCS 805/8.43 new

Synopsis As Introduced
Provides that the amendatory Act may be referred to as the Property Tax Relief and Pension Stabilization Fund Act. Amends the State Finance Act to create the Property Tax Relief and Pension Stabilization Fund. Provides that moneys in the Fund shall be used for State contributions to the 5 State-funded retirement systems and shall be used for grants to school districts. Specifies the percentage of the moneys in the Fund that shall be used for State contributions and for grants to school districts. Amends the State Budget Law of the Civil Administrative Code of Illinois. Creates a continuing appropriation of $2,400,000,000 to the Fund. Amends the 5 State-funded Articles of the Illinois Pension Code. Makes changes to the funding formula, including changing the funding goal to 70% (instead of 90%) and providing that the amount of the contribution for the unfunded liability shall be an amount sufficient, in equal annual dollar amounts, to bring the total assets up to 70% of the total actuarial liabilities by 2045. Requires recertification of the amount of the fiscal year 2020 contribution. Amends the School Code. Provides that beginning State fiscal year 2021, the State Board of Education shall make grants to school districts from the Property Tax Relief and Pension Stabilization Fund and requires a school district that receives a grant from the Fund to certify to the county clerk the amount of the grant. Amends the Property Tax Code. Provides that the county clerk shall reduce the amount of tax levied by the amount certified by the school district. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/15/2019HouseFiled with the Clerk by Rep. Mark Batinick
  2/15/2019HouseFirst Reading
  2/15/2019HouseReferred to Rules Committee
  3/5/2019HouseAssigned to Revenue & Finance Committee
  3/14/2019HouseTo Property Tax Subcommittee
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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