Illinois General Assembly - Bill Status for HB1700
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 Bill Status of HB1700  102nd General Assembly


Short Description:  PEN CD-CHI LABOR-INCREASE/TAX

House Sponsors
Rep. Robert S. Molaro

Last Action
DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/11-134.1from Ch. 108 1/2, par. 11-134.1
40 ILCS 5/11-169from Ch. 108 1/2, par. 11-169
30 ILCS 805/8.31 new


Synopsis As Introduced
Amends the Chicago Laborers Article of the Illinois Pension Code. Provides that the annual annuity increase for a person first employed under the Article on or after the effective date shall be at a rate of 3% of the original fixed annuity (instead of 3% of the current payable monthly annuity). Provides that the city council of the city shall levy a tax annually upon all taxable property in the city at a rate that will produce a sum that will be sufficient to bring the total assets of the Laborers' and Retirement Board Employees' Annuity and Benefit Fund up to 90% of the total actuarial liabilities of the Fund by the end of fiscal year 2016 (instead of a sum that will be sufficient for the requirements of the Article, with a maximum provided). Amends the State Mandates Act to require implementation without reimbursement.

Actions 
DateChamber Action
  2/22/2007HouseFiled with the Clerk by Rep. Robert S. Molaro
  2/22/2007HouseFirst Reading
  2/22/2007HouseReferred to Rules Committee
  2/27/2007HouseAssigned to Executive Committee
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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