Bill Status of HB 4478   98th General Assembly

Short Description:  PENS CD-CHI FIRE-GAMING FUNDS

House Sponsors
Rep. Brandon W. Phelps

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/5-168from Ch. 108 1/2, par. 5-168
40 ILCS 5/6-165from Ch. 108 1/2, par. 6-165
30 ILCS 805/8.38 new

Synopsis As Introduced
Amends the Chicago Police and Firefighter Articles of the Illinois Pension Code. Provides that the city shall deposit with the city treasurer, for the benefit of each of those funds, a minimum of 20% of all proceeds collected by the city from newly established gaming revenue sources arising out of legislation enacted in 2014 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 and employee representatives. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/30/2014HouseFiled with the Clerk by Rep. Brandon W. Phelps
  2/3/2014HouseFirst Reading
  2/3/2014HouseReferred to Rules Committee
  12/3/2014HouseSession Sine Die

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