Illinois 103rd Regular Session Status: In Committee

HB 2870 — PEN CD-COOK COUNTY-FUNDING

Last action — Rule 19(a) / Re-referred to Rules Committee

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 103rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the Cook County Article of the Illinois Pension Code. Provides that beginning in levy year 2024, the County shall levy a tax annually at a rate on the dollar of the value, as equalized or assessed by the Department of Revenue of all taxable property within the County that will produce, when extended, an amount equal to no less than the amount of the County's total required contribution to the Fund for the next payment year. Provides that for payment years 2025 through 2055, the County's required annual contributions to the Fund shall be the amount determined by the Fund to be equal to the sum of (i) the projected normal cost for pensions for that fiscal year, plus (ii) a projected unfunded actuarial accrued liability amortization payment for pensions for the fiscal year, plus (iii) projected expenses for that fiscal year, plus (iv) interest to adjust for payment pattern during the fiscal year, minus (v) projected employee contributions for that fiscal year. Specifies a formula for payment years after 2055. Provides that, in lieu of levying all or a portion of the tax required, the County may deposit with the County treasurer for the benefit of the Fund an amount that, together with the taxes levied for that year, is not less than the amount of the County contributions for that year as certified by the Board of Trustees of the Fund to the County board. Provides that the County may continue to use other lawfully available funds to make the contribution in lieu of all or part of the levy. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement by the State.

Bill Text

Action History

  1. Rule 19(a) / Re-referred to Rules Committee

  2. Held on Calendar Order of Second Reading - Short Debate

  3. Second Reading - Short Debate

  4. Placed on Calendar 2nd Reading - Short Debate

  5. Do Pass / Short Debate Personnel & Pensions Committee; 009-000-000

  6. Assigned to Personnel & Pensions Committee

  7. Referred to Rules Committee

  8. First Reading

  9. Filed with the Clerk by Rep. Kelly M. Burke

Sponsors

  • Kelly M. Burke · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (1)

  • Kelly M. Burke

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

taxation finance labor
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Frequently asked questions

What does HB 2870 do?
Amends the Cook County Article of the Illinois Pension Code. Provides that beginning in levy year 2024, the County shall levy a tax annually at a rate on the dollar of the value, as equalized or assessed by the Department of Revenue of all taxable property within the County that will produce, when extended, an amount equal to no less than the amount of the County's total required contribution to the Fund for the next payment year. Provides that for payment years 2025 through 2055, the County's required annual contributions to the Fund shall be the amount determined by the Fund to be equal to the sum of (i) the projected normal cost for pensions for that fiscal year, plus (ii) a projected unfunded actuarial accrued liability amortization payment for pensions for the fiscal year, plus (iii) projected expenses for that fiscal year, plus (iv) interest to adjust for payment pattern during the fiscal year, minus (v) projected employee contributions for that fiscal year. Specifies a formula for payment years after 2055. Provides that, in lieu of levying all or a portion of the tax required, the County may deposit with the County treasurer for the benefit of the Fund an amount that, together with the taxes levied for that year, is not less than the amount of the County contributions for that year as certified by the Board of Trustees of the Fund to the County board. Provides that the County may continue to use other lawfully available funds to make the contribution in lieu of all or part of the levy. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement by the State.
Who sponsors HB 2870?
HB 2870 is sponsored by Kelly M. Burke.
What is the current status of HB 2870?
This bill died with 103rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 2870?
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