Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/5-168

from Ch. 108 1/2, par. 5-168

Synopsis As Introduced
Amends the Chicago Police Article of the Illinois Pension Code to increase the multiplier used to calculate the maximum allowable pension tax, from 2.00 to 2.26. Effective immediately.

Pension Note (Commission on Gov't Forecasting and Accountability)

Senate Bill 367 would significantly increase the annual employer contributions to the Fund. In FY 2003, the City of Chicago made employer contributions of approximately $140.7 million, using a property tax multiplier of 2.00. If a property tax multiplier of 2.26 had been in effect that year, the employer contributions generated by the tax levy would have totaled approximately $159.0 million, an increase of $18.3 million.

Actions 

Date	Chamber	Action
2/15/2005	Senate	Filed with Secretary by Sen. James A. DeLeo
2/15/2005	Senate	First Reading
2/15/2005	Senate	Referred to Rules
2/17/2005	Senate	Assigned to Pensions & Investments
3/2/2005	Senate	Postponed - Pensions & Investments
3/9/2005	Senate	Postponed - Pensions & Investments
3/11/2005	Senate	Pension Note Filed from the Commission on Government Forecasting and Accountability.
3/16/2005	Senate	Postponed - Pensions & Investments
3/18/2005	Senate	Rule 3-9(a) / Re-referred to Rules
1/9/2007	Senate	Session Sine Die

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