Bill Status of HB4277 95th General Assembly
Short Description: PENCD-CHIC TCHR-PROP TAX
Rep. Robert S. Molaro
| 1/13/2009||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that the Board of Education shall demand and direct and the city council of the city shall levy a tax of 0.1% annually upon all taxable property in the city. Provides that revenues derived from the tax shall be paid to the city treasurer of the city as collected and held by him or her for the benefit of the Public School Teachers' Pension and Retirement Fund of Chicago. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.