HB3136 103RD GENERAL ASSEMBLY

LRB103 29963 HLH 56380 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3136

Introduced 2/17/2023, by Rep. Stephanie A. Kifowit

SYNOPSIS AS INTRODUCED:

15 ILCS 20/50-23 new

Amends the State Budget Law of the Civil Administrative Code of Illinois. Provides that, if, in any State fiscal year, there is a budget surplus, then, in the next State fiscal year, the General Assembly shall appropriate to the retirement systems established under the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code an additional 1% of the amount contributed by the State under those Articles in the immediately preceding State fiscal year.

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Budget Law of the Civil Administrative Code of Illinois is amended by adding Section 50-23 as follows:

(15 ILCS 20/50-23 new)

Sec. 50-23. Budget surplus; pension. If, in any State fiscal year, there is a budget surplus, then, in the next State fiscal year, the General Assembly shall appropriate to the retirement systems established under Articles 2, 14, 15, 16, and 18 of the Illinois Pension Code an additional 1% of the amount contributed by the State under those Articles in the immediately preceding State fiscal year.