Full Text of SB0493 095th General Assembly
SB0493eng 95TH GENERAL ASSEMBLY
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SB0493 Engrossed |
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LRB095 05366 AMC 25453 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing | 5 |
| Section 6-165 as follows:
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| (40 ILCS 5/6-165)
(from Ch. 108 1/2, par. 6-165)
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| Sec. 6-165. Financing; tax.
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| (a) Except as expressly provided in this
Section, each city | 9 |
| shall levy a tax annually upon all
taxable property therein for | 10 |
| the purpose of providing revenue for the
fund. For the years | 11 |
| prior to the year 1960, the tax rate shall be as
provided for | 12 |
| in the "Firemen's Annuity and Benefit Fund of the Illinois
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| Municipal Code". The tax, from and after January 1, 1968 to and
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| including the year 1971, shall not exceed .0863% of the value, | 15 |
| as
equalized or assessed by the Department of Revenue, of
all | 16 |
| taxable property in the city. Beginning with the year 1972 and | 17 |
| each
year thereafter the city shall levy a tax annually at a | 18 |
| rate on the
dollar of the value, as equalized or assessed by | 19 |
| the Department of Revenue
of all taxable property within such | 20 |
| city that will
produce, when extended, not to exceed an amount | 21 |
| equal to the total
amount of contributions by the employees to | 22 |
| the fund made in the
calendar year 2 years prior to the year | 23 |
| for which the annual applicable
tax is levied, multiplied by |
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| 2.23 through the calendar year 1981, and by
2.26 for the year | 2 |
| 1982 and for each year thereafter.
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| To provide revenue for the ordinary death benefit | 4 |
| established by
Section 6-150 of this Article, in addition to | 5 |
| the contributions by the firemen
for this purpose, the city | 6 |
| council shall for the
year 1962 and each year thereafter | 7 |
| annually levy a tax, which shall be
in addition to and | 8 |
| exclusive of the taxes authorized to be levied under
the | 9 |
| foregoing provisions of this Section, upon all taxable property | 10 |
| in
the city, as equalized or assessed by the Department of | 11 |
| Revenue, at such
rate per cent of the value of such property as | 12 |
| shall be
sufficient to produce for each year the sum of | 13 |
| $142,000.
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| The amounts produced by the taxes levied annually, together | 15 |
| with the
deposit expressly authorized in this Section, shall be
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| sufficient, when added to the amounts deducted from the | 17 |
| salaries of
firemen and applied to the fund, to provide for the | 18 |
| purposes of the
fund.
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| (b) The taxes shall be levied and collected in like manner | 20 |
| with the
general taxes of the city, and shall be in addition to | 21 |
| all other taxes
which the city may levy upon all taxable | 22 |
| property therein and shall be
exclusive of and in addition to | 23 |
| the amount of tax the city may levy for
general purposes under | 24 |
| Section 8-3-1 of the Illinois Municipal Code,
approved May 29, | 25 |
| 1961, as amended, or under any other law or laws which
may | 26 |
| limit the amount of tax which the city may levy for general
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| purposes.
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| (c) The amounts of the taxes to be levied in each year | 3 |
| shall be
certified to the city council by the board. The board | 4 |
| shall publish in a newspaper of general circulation the amounts | 5 |
| certified to the city council under this Section.
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| (d) As soon as any revenue derived from such taxes is | 7 |
| collected, it
shall be paid to the city treasurer and held for | 8 |
| the benefit of the fund, and
all such revenue shall be paid | 9 |
| into the fund in accordance with the
provisions of this | 10 |
| Article.
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| (e) If the funds available are insufficient during any year | 12 |
| to
meet the requirements of this Article, the city may issue | 13 |
| tax anticipation
warrants, against the tax levies herein | 14 |
| authorized for the current
fiscal year.
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| (f) The various sums, hereinafter stated, including | 16 |
| interest, to be
contributed by the city, shall be taken from | 17 |
| the revenue derived from the taxes
or otherwise as expressly | 18 |
| provided in this Section. Except for defraying the
cost of | 19 |
| administration of the fund during the calendar year in which a | 20 |
| city
first attains a population of 500,000 and comes under the | 21 |
| provisions of this
Article and the first calendar year | 22 |
| thereafter, any money of the city derived
from any source other | 23 |
| than these taxes or the sale of tax anticipation warrants
shall | 24 |
| not be used to provide revenue for the fund, nor to pay any | 25 |
| part of the
cost of administration thereof, unless applied to | 26 |
| make the deposit expressly
authorized in this Section
or the |
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| additional city contributions required under subsection (h).
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| (g) In lieu of levying all or a portion of the tax required | 3 |
| under this
Section in any year, the city may deposit with the | 4 |
| city treasurer no later than
March 1 of that year for the | 5 |
| benefit of the fund, to be held in accordance with
this | 6 |
| Article, an amount that, together with the taxes levied under | 7 |
| this Section
for that year, is not less than the amount of the | 8 |
| city contributions for that
year as certified by the board to | 9 |
| the city council. The deposit may be derived
from any source | 10 |
| legally available for that purpose, including, but not limited
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| to, the proceeds of city borrowings. The making of a deposit | 12 |
| shall satisfy
fully the requirements of this Section for that | 13 |
| year to the extent of the
amounts so deposited. Amounts | 14 |
| deposited under this subsection may be used
by the fund for any | 15 |
| of the purposes for which the proceeds of the taxes levied
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| under this Section may be used, including the payment of any | 17 |
| amount that is
otherwise required by this Article to be paid | 18 |
| from the proceeds of those
taxes.
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| (h) In addition to the contributions required under the | 20 |
| other provisions
of this Article, by November 1 of the | 21 |
| following specified years, the city shall
deposit with the city | 22 |
| treasurer for the benefit of the fund, to be held and
used in | 23 |
| accordance with this Article, the following specified amounts:
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| $6,300,000 in 1999;
$5,880,000 in 2000;
$5,460,000 in 2001;
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| $5,040,000 in 2002; and
$4,620,000 in 2003.
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| The additional city contributions required under this |
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| subsection are
intended to decrease the unfunded liability of | 2 |
| the fund and shall not decrease
the amount of the city | 3 |
| contributions required under the other provisions of
this | 4 |
| Article. The additional city contributions made under this | 5 |
| subsection
may be used by the fund for any of its lawful | 6 |
| purposes.
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| (Source: P.A. 93-654, eff. 1-16-04.)
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| Section 90. The State Mandates Act is amended by adding | 9 |
| Section 8.31 as follows: | 10 |
| (30 ILCS 805/8.31 new) | 11 |
| Sec. 8.31. Exempt mandate. Notwithstanding Sections 6 and 8 | 12 |
| of this Act, no reimbursement by the State is required for the | 13 |
| implementation of any mandate created by this amendatory Act of | 14 |
| the 95th General Assembly.
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| Section 99. Effective date. This Act takes effect upon | 16 |
| becoming law.
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