90th General Assembly
Summary of HB3031
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House Sponsors:
CAPPARELLI-MCAULIFFE-BURKE-ACEVEDO-BUGIELSKI AND SAVIANO.

Short description: 
PEN CD-CHGO POL-TAX MULTIPLIER                                             

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Pension Code to increase      
   the multiplier used to calculate the maximum  allowable  pension  tax,      
   from 2.00 to 2.26.  Effective immediately.                                  
          PENSION NOTE                                                         
          Annual employer contributions would significantly increase.          
          Employer contributions were $112 M, with a property tax multi-       
          plier of 2.00; with a multiplier of 2.36, they would be $133 M.      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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