HB3136ham001 103RD GENERAL ASSEMBLY

Rep. Stephanie A. Kifowit

Filed: 3/6/2023

10300HB3136ham001 LRB103 29963 HLH 58348 a

AMENDMENT TO HOUSE BILL 3136

AMENDMENT NO. ______. Amend House Bill 3136 by replacing everything after the enacting clause with the following:

"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 an increase in the income tax rates under subsection (b) of Section 201 of the Illinois Income Tax Act affecting individuals, corporations, or both individuals and corporations, or if there is an increase in the 6.25% general rate imposed under any of the State use and occupation tax Acts, 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.".