HC0049ham001 97TH GENERAL ASSEMBLY

HC0049HAM001 LRB097 21008 JDS 68500 a

AMENDMENT TO HOUSE JOINT RESOLUTION

CONSTITUTIONAL AMENDMENT 49

AMENDMENT NO. ___. Amend House Joint Resolution Constitutional Amendment 49 as follows:

on page 1, line 9, by replacing "Section 5.1" with "Sections 5.1 and 5.2"; and

on page 4, immediately after line 12, by inserting the following:

"(ILCON Art. XIII, Sec. 5.2 new) SECTION 5.2. INDEPENDENT ACTUARIAL REVIEW OF PENSION LEGISLATION

(a) After consulting with the Treasurer, the Comptroller shall appoint an independent actuary who shall conduct, at the request of the sponsor of a bill that amends the Illinois Pension Code or the State Pension Funds Continuing Appropriation Act (other than a bill limited to the subject of appropriations or for the codification, revision or rearrangement of laws), an assessment of that measure in order: (i) to estimate its impact on each affected public pension and retirement system, in dollars where appropriate and (ii) to identify its immediate effect and, if determinable or reasonably foreseeable, its long-range effect. If, after careful investigation, it is determined that no dollar estimate is possible, the independent actuary shall include in his or her assessment a statement to that effect, setting forth the reasons why no dollar estimate can be given. As soon as possible after completing each assessment, the independent actuary shall deliver a copy of the assessment to the Comptroller, Treasurer, Clerk of the House of Representatives, and Secretary of the Senate.

(b) A bill that amends the Illinois Pension Code or the State Pension Funds Continuing Appropriation Act may not be considered on the floor of the House of Representatives or the Senate until the independent actuary has delivered a copy of the assessment of that bill to the Comptroller, Treasurer, Clerk of the House of Representatives, and Secretary of the Senate.".