Illinois General Assembly - Bill Status for SB2574
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 Bill Status of SB2574  96th General Assembly

Short Description:  PEN CD-ART 3&4-FINANCING-LEVY

Senate Sponsors
Sen. Pamela J. Althoff - Susan Garrett and Dan Cronin

Last Action
DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/3-125from Ch. 108 1/2, par. 3-125
40 ILCS 5/4-118from Ch. 108 1/2, par. 4-118

Synopsis As Introduced
Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that, for the 2-year period consisting of taxable years 2010 and 2011, the city council or the board of trustees of the municipality shall annually levy a tax upon all the taxable property of the municipality at the rate on the dollar that will produce an amount for that 2-year period that is the lesser of: (i) the amount levied for taxable year 2009 multiplied by 1.1 or (ii) an amount that, when added to the deductions from the salaries or wages of police officers and firefighters and revenues available from other sources, will equal a sum sufficient to meet the annual actuarial requirements of the pension funds. Effective immediately.

DateChamber Action
  1/13/2010SenateFiled with Secretary by Sen. Pamela J. Althoff
  1/13/2010SenateFirst Reading
  1/13/2010SenateReferred to Assignments
  2/10/2010SenateAssigned to Pensions and Investments
  2/23/2010SenateAdded as Chief Co-Sponsor Sen. Susan Garrett
  2/25/2010SenateAdded as Co-Sponsor Sen. Dan Cronin
  3/4/2010SenateDo Pass Pensions and Investments; 009-000-000
  3/4/2010SenatePlaced on Calendar Order of 2nd Reading March 9, 2010
  3/15/2010SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Terry Link
  3/15/2010SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/16/2010SenateSenate Floor Amendment No. 1 Assignments Refers to Pensions and Investments
  3/16/2010SenateSenate Floor Amendment No. 1 Postponed - Pensions and Investments
  6/27/2010SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  6/27/2010SenateSenate Floor Amendment No. 1 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).
  1/12/2011SenateSession Sine Die

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