Illinois General Assembly - Bill Status for HB1174
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 Bill Status of HB1174  93rd General Assembly

Short Description:  PENCD-ART 17-MANDATORY CONTRIB

House Sponsors
Rep. Robert S. Molaro

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-127from Ch. 108 1/2, par. 17-127
40 ILCS 5/17-129from Ch. 108 1/2, par. 17-129


Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides for mandatory State contributions to the Chicago Teacher Pension Fund. Effective immediately.

 Pension Note (Pension Laws Commission)
 The fiscal impact of HB 1174 has not been determined, but could be substantial.

 Pension Note (Pension Laws Commission)
 The first contribution would equal $5.0 million in FY05, but would grow to $259.1 million in FY10 and $1.2 billion in FY2045. These projections assume the State would continue to make the current $65 million annual contributions through the end of funding period (FY2045).

Actions 
DateChamber Action
  2/4/2003HouseFiled with the Clerk by Rep. Robert S. Molaro
  2/4/2003HouseFirst Reading
  2/4/2003HouseReferred to Rules Committee
  2/5/2003HouseAssigned to Executive Committee
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  3/17/2003HousePension Note Filed
  5/19/2003HousePension Note Filed revised
  1/11/2005HouseSession Sine Die

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