Sen. Robert F. Martwick

Filed: 11/28/2022

 

 


 

 


 
10200HB1859sam001LRB102 11405 RPS 41647 a

1
AMENDMENT TO HOUSE BILL 1859

2    AMENDMENT NO. ______. Amend House Bill 1859 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by
5changing Section 10-107 as follows:
 
6    (40 ILCS 5/10-107)  (from Ch. 108 1/2, par. 10-107)
7    Sec. 10-107. Financing; tax levy Financing - Tax levy.
8    (a) The forest preserve district may levy an annual tax on
9the value, as equalized or assessed by the Department of
10Revenue, of all taxable property in the district for the
11purpose of providing revenue for the fund. The rate of such tax
12in any year may not exceed the rate herein specified for that
13year or the rate which will produce, when extended, the sum
14herein stated for that year, whichever is higher: for any year
15prior to 1970, .00103% or $195,000; for the year 1970, .00111%
16or $210,000; for the year 1971, .00116% or $220,000. For the

 

 

10200HB1859sam001- 2 -LRB102 11405 RPS 41647 a

1year 1972 and each year thereafter through levy year 2022, the
2Forest Preserve District shall levy a tax annually at a rate on
3the dollar of the value, as equalized or assessed by the
4Department of Revenue upon all taxable property in the county,
5when extended, not to exceed an amount equal to the total
6amount of contributions by the employees to the fund made in
7the calendar year 2 years prior to the year for which the
8annual applicable tax is levied, multiplied by 1.25 for the
9year 1972; and by 1.30 for the year 1973 and for each year
10thereafter through levy year 2022. Beginning in levy year
112023, and in each levy year thereafter, the Forest Preserve
12District shall levy a tax annually at a rate on the dollar of
13the value, as equalized or assessed by the Department of
14Revenue, of all taxable property within the county that will
15produce, when extended, an amount equal to no less than the
16amount of the Forest Preserve District's total required
17contribution to the Fund for the next payment year, as
18determined under subsection (b). For the purposes of this
19Section, the payment year is the year immediately following
20the levy year.
21    The tax shall be levied and collected in like manner with
22the general taxes of the district and shall be in addition to
23the maximum of all other tax rates which the district may levy
24upon the aggregate valuation of all taxable property and shall
25be exclusive of and in addition to the maximum amount and rate
26of taxes the district may levy for general purposes or under

 

 

10200HB1859sam001- 3 -LRB102 11405 RPS 41647 a

1and by virtue of any laws which limit the amount of tax which
2the district may levy for general purposes. The county clerk
3of the county in which the forest preserve district is located
4in reducing tax levies under the provisions of "An Act
5concerning the levy and extension of taxes", approved May 9,
61901, as amended, shall not consider any such tax as a part of
7the general tax levy for forest preserve purposes, and shall
8not include the same in the limitation of 1% of the assessed
9valuation upon which taxes are required to be extended, and
10shall not reduce the same under the provisions of that Act. The
11proceeds of the tax herein authorized shall be kept as a
12separate fund.
13    The forest preserve district may use other lawfully
14available funds in lieu of all or part of the levy.
15    The Board may establish a manpower program reserve, or a
16special forest preserve district contribution rate, with
17respect to employees whose wages are funded as program
18participants under the Comprehensive Employment and Training
19Act of 1973 in the manner provided in subsection (d) or (e),
20respectively, of Section 9-169.
21    (b)(1) For payment years 2024 through 2054, the Forest
22Preserve District's required annual contribution to the fund
23shall be the minimum required employer contribution set forth
24in paragraph (3) of this subsection (b).
25    (2) The Board shall retain an actuary who is a member in
26good standing of the American Academy of Actuaries to produce

 

 

10200HB1859sam001- 4 -LRB102 11405 RPS 41647 a

1an annual actuarial report of the Fund. The annual actuarial
2report shall include, but not be limited to: (i) a statement of
3the actuarial value of the Fund's assets as projected over 30
4years' time and the actuarial value of the Fund's liabilities
5as projected over the same period of time; and (ii) the minimum
6required employer contribution for the second year immediately
7following the year ending on the valuation date upon which the
8annual actuarial report is based. The annual actuarial report
9shall be reviewed and formally adopted by the Board and may be
10included in other annual reports.
11    (3) The minimum required employer contribution for a
12specified year as set forth in the annual actuarial report
13required under paragraph (2) shall be the amount determined by
14the Fund's actuary to be equal to the sum of: (i) the projected
15normal cost for pensions for that fiscal year, plus (ii) a
16projected unfunded actuarial accrued liability amortization
17payment for pensions for the fiscal year, plus (iii) projected
18expenses for that fiscal year, plus (iv) interest to adjust
19for payment pattern during the fiscal year, minus (v)
20projected employee contributions for that fiscal year. The
21Forest Preserve District's required annual contribution to the
22Fund shall not be less than the sum of: (i) the projected
23normal cost for pensions for that fiscal year, plus (ii) a
24projected unfunded actuarial accrued liability amortization
25payment for pensions for the fiscal year, plus (iii) projected
26expenses for that fiscal year, plus (iv) interest to adjust

 

 

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1for payment pattern during the fiscal year, minus (v)
2projected employee contributions for that fiscal year. The
3minimum required employer contribution shall be based on the
4entry age normal cost method, a 5-year smoothed actuarial
5value of assets, and a 30-year layered amortization of
6unfunded actuarial accrued liability with payments increasing
7at 2% per year. The unfunded actuarial accrued liability
8payment schedule shall be based on the schedule initially
9established in 2016 and ending in 2046.
10    The minimum required employer contribution shall be
11submitted annually by the Forest Preserve District on or
12before July 31 unless another time frame is agreed upon by the
13Forest Preserve District and the Fund. The methods provided in
14this Section may be amended as recommended by an independent
15actuary engaged by the Fund and in compliance with actuarial
16standards of practice and as adopted by an affirmative vote of
17a simple majority of the Board and the Forest Preserve
18District Board of Commissioners.
19    (4) For payment years after 2055, the Forest Preserve
20District's required annual contribution to the Fund shall be
21equal to the amount, if any, needed to bring the total
22actuarial assets of the Fund up to 100% of the total actuarial
23liabilities of the Fund by the end of the year.
24    (5) To the extent that the Forest Preserve District's
25contribution for any of the payment years referenced in this
26subsection (b) is made with property taxes, those property

 

 

10200HB1859sam001- 6 -LRB102 11405 RPS 41647 a

1taxes shall be levied, collected, and paid to the Fund in a
2like manner with the general taxes of the Forest Preserve
3District.
4(Source: P.A. 102-210, eff. 1-1-22.)
 
5    Section 90. The State Mandates Act is amended by adding
6Section 8.46 as follows:
 
7    (30 ILCS 805/8.46 new)
8    Sec. 8.46. Exempt mandate. Notwithstanding Sections 6 and
98 of this Act, no reimbursement by the State is required for
10the implementation of any mandate created by this amendatory
11Act of the 102nd General Assembly.
 
12    Section 99. Effective date. This Act takes effect June 1,
132023.".