Illinois Senate Bill 1865 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Cook County Forest Preserve Article of the Illinois Pension Code. Removes language providing how the Cook County Forest Preserve shall levy and collect a property tax levied to provide revenue for the fund under that Article. Amends the Cook County and Cook County Forest Preserve Articles of the Illinois Pension Code. Specifies the dollar amount of the required employer contributions through 2022. Beginning in the year 2023, provides for the annual required contribution to be the amount determined by the Fund to be equal to the sum of (i) the employer's portion of the projected normal cost for that fiscal year, plus (ii) an amount that is sufficient to bring the total actuarial assets of the Fund up to 100% of the total actuarial liabilities of the Fund by the end of 2052. Provides that the contributions may be taken from any revenue source, including, but not limited to, other tax revenues, proceeds of borrowings, or State or federal funds. Amends the State Mandates Act to require implementation without reimbursement. Makes technical and other changes. Effective immediately.

PEN CD-COOK-FOREST-FUNDING

Sen. Don Harmon [D]

Date	Chamber	Action
2021-01-13	Senate	Session Sine Die
2020-09-12	Senate	Chief Sponsor Changed to Sen. Don Harmon
2019-02-15	Senate	Referred to Assignments
2019-02-15	Senate	First Reading
2019-02-15	Senate	Filed with Secretary by Sen. Terry Link

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.43	New Code	See Bill Text
40	5	10-107	Amended Code	Citation Text
40	5	9-169	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1865&GAID=15&DocTypeID=SB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/SB/10100SB1865.htm