92nd General Assembly
Status of HB1898
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 Full Text  Bill Summary

   40 ILCS 5/5-168           from Ch. 108 1/2, par. 5-168                      

        Amends the Chicago Police Article of the Illinois Pension Code to      
   increase the  multiplier  used  to  calculate  the  maximum  allowable      
   pension tax, from 2.00 to 2.26.  Effective immediately.                     
          PENSION NOTE (Pension Laws Commission)                               
          HB1898 would significantly increase the annual employer contri-      
          butions to the Fund. In FY 1999, the City of Chicago made em-        
          ployer contributions of approximately $125.1 million, using a        
          property tax multiplier of 2.00. If a property tax multiplier        
          of 2.26 had been in effect that year, the employer contribu-         
          tions generated by the tax levy would have totaled approximat-       
          ely $141.4 million.                                                  
   FEB-16-2001  H  FILED WITH CLERK                                               
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 BURKE                 
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 CAPPARELLI            
   FEB-16-2001  H  FIRST READING                                                  
   FEB-16-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-21-2001  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   MAR-30-2001  H                        PENSION NOTE FILED                       
   MAR-30-2001  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary