Bill Status of HB 5426   97th General Assembly

Short Description:  PEN CD-CHI FIRE-GAMING FUNDS

House Sponsors
Rep. Brandon W. Phelps

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/6-165from Ch. 108 1/2, par. 6-165
30 ILCS 805/8.36 new

Synopsis As Introduced
Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that the city shall deposit with the city treasurer for the benefit of the fund, a minimum of 20% of all proceeds collected by the city from newly established gaming revenue sources arising out of legislation enacted in 2012 or thereafter. These deposits shall continue until the stabilization of the fund has been deemed to have occurred by an independent actuarial organization mutually agreed upon by the city, employee representatives, and the board of the fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/9/2012HouseFiled with the Clerk by Rep. Angelo Saviano
  2/15/2012HouseFirst Reading
  2/15/2012HouseReferred to Rules Committee
  2/15/2012HouseChief Sponsor Changed to Rep. Brandon W. Phelps
  1/8/2013HouseSession Sine Die

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