Bill Status of HB 4787   96th General Assembly


Short Description:  PEN CD-ART 8-FINANCING

House Sponsors
Rep. Michael J. Zalewski

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/8-173from Ch. 108 1/2, par. 8-173
30 ILCS 805/8.34 new

Synopsis As Introduced
Amends the Chicago Municipal Article of the Illinois Pension Code. Provides that the city shall levy a tax annually at a rate on the dollar of the value, as equalized or assessed by the Department of Revenue of all taxable property within the city for the year 2010 and each year thereafter, that will produce, when extended, an amount equal to or greater than the total amount of contributions made by or on behalf of employees to the Fund for annuity purposes in the calendar year 2 years prior to the year for which the annual applicable tax is levied, multiplied by 1.25. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/12/2010HouseFiled with the Clerk by Rep. Michael J. Zalewski
  1/12/2010HouseFirst Reading
  1/12/2010HouseReferred to Rules Committee
  1/11/2011HouseSession Sine Die

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