ACEVEDO. New Act Creates the Firearms Dealer Licensing Act. Requires a person who engages in the business of selling or transferring firearms to be licensed by the Department of State Police. Establishes qualifications for licenses. Provides that it is a Class 4 felony to engage in the business of selling or transferring firearms without a license. Requires a licensed firearms dealer who sells or transfers a firearm to a person who is not a licensed dealer to report that sale or transfer to the Department of State Police. FISCAL NOTE (Illinois Courts Administrative Office) HB 4223 would have a minimal impact on the judicial branch. JUDICIAL NOTE (Illinois Courts Administrative Office) There may be a minimal increase in judicial workloads. However, HB 4223 would not increase the number of judges needed in the State. PENSION NOTE (Illinois Pension Laws Commission) Based on the December 31, 2000 valuation, HB 4233 would increase the accrued liability of the Chicago Firefighter's Fund by an estimated $93.4 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $7.6 million. The estimated annual increase in normal cost is $1.6 million, or 0.58% of payroll. Therefore, the estimated annual increase in total annual cost is $9.2 million, or 3.35% of payroll. JAN-30-2002 H FILED WITH CLERK JAN-30-2002 H FIRST READING JAN-30-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-14-2002 H FISCAL NOTE FILED FEB-14-2002 H JUDICIAL NOTE FILED FEB-14-2002 H COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary