Rep. Stephanie A. Kifowit

Filed: 3/6/2023

 

 


 

 


 
10300HB3136ham001LRB103 29963 HLH 58348 a

1
AMENDMENT TO HOUSE BILL 3136

2    AMENDMENT NO. ______. Amend House Bill 3136 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Budget Law of the Civil
5Administrative Code of Illinois is amended by adding Section
650-23 as follows:
 
7    (15 ILCS 20/50-23 new)
8    Sec. 50-23. Budget surplus; pension. If, in any State
9fiscal year, there is an increase in the income tax rates under
10subsection (b) of Section 201 of the Illinois Income Tax Act
11affecting individuals, corporations, or both individuals and
12corporations, or if there is an increase in the 6.25% general
13rate imposed under any of the State use and occupation tax
14Acts, then, in the next State fiscal year, the General
15Assembly shall appropriate to the retirement systems
16established under Articles 2, 14, 15, 16, and 18 of the

 

 

10300HB3136ham001- 2 -LRB103 29963 HLH 58348 a

1Illinois Pension Code an additional 1% of the amount
2contributed by the State under those Articles in the
3immediately preceding State fiscal year.".