Bill Status of SB 36   97th General Assembly

Short Description:  PENSION FUNDING & FAIRNESS

Senate Sponsors
Sen. Matt Murphy-Dale A. Righter, Sue Rezin, Kyle McCarter, Wm. Sam McCann, Pamela J. Althoff and Dave Syverson

Last Action  View All Actions

DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.786 new
30 ILCS 105/5.787 new
30 ILCS 105/5.788 new

Synopsis As Introduced
Creates the Pension Funding and Fairness Act. Provides that the maximum annual percentage change in State fiscal year spending may not exceed the inflation adjustment factor plus the population adjustment factor. Provides that, in order to adopt an increase in State spending beyond that limit or an increase in State revenue, the measure must be approved by a three-fifths supermajority vote of each chamber of the General Assembly and must be approved by a majority of voters. Provides for the imposition of an emergency tax. Establishes the Past Due Paydown Fund, into which the Comptroller shall transfer any amount necessary up to the total past due operating debt owed by the State, and provides that the General Assembly may authorize transfers, appropriations, and allocations from the fund to fund only the costs of paying down the remaining past due debt. Requires any remaining funds to be transferred into the State Budget Stabilization Fund. Establishes the State Budget Stabilization Fund to fund the costs of State government up to the expenditure limit in years when State revenues are less than the amount necessary to finance expenditures. Limits the fund from exceeding 8% of the total General Fund revenues received in the immediately preceding fiscal year, and requires the transfer of any excess into the Taxpayer Relief Fund. Establishes the Taxpayer Relief Fund, and provides that, if the amount in that fund exceeds 1% of General Fund expenditures, then the General Assembly shall enact legislation to provide for the refund to taxpayers of amounts in the fund. Contains provisions concerning annual pension payments. Amends the State Finance Act to make conforming changes. Effective immediately.

Actions 
DateChamber Action
  1/27/2011SenatePrefiled with Secretary by Sen. Matt Murphy
  1/27/2011SenateChief Co-Sponsor Sen. Dale A. Righter
  1/27/2011SenateFirst Reading
  1/27/2011SenateReferred to Assignments
  2/9/2011SenateAssigned to Executive
  2/16/2011SenateTo Executive Subcommittee on State Government Operations; 3/07/2011- Held /3/10/2011 - Remains in Subcommittee/ 3/16/2011- Held
  2/24/2011SenateAdded as Co-Sponsor Sen. Sue Rezin
  3/10/2011SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Matt Murphy
  3/10/2011SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/14/2011SenateSenate Committee Amendment No. 1 Assignments Refers to Executive
  3/17/2011SenateSenate Committee Amendment No. 1 Postponed - Executive
  3/17/2011SenatePostponed - Executive
  3/18/2011SenateRule 3-9(a) / Re-referred to Assignments
  3/18/2011SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  4/5/2011SenateAdded as Co-Sponsor Sen. Kyle McCarter
  4/7/2011SenateAdded as Co-Sponsor Sen. Wm. Sam McCann
  5/23/2011SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  6/22/2011SenateAdded as Co-Sponsor Sen. Dave Syverson
  1/8/2013SenateSession Sine Die

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