SB 796 — PUBLIC EMPLOYEE BENEFITS-TECH

*LRB09404419AMC34448b* SB0796 94THEngrossed GENERALLRB094 ASSEMBLY04419 StateAMC of34448 Illinoisb andAN 2006ACT SB0796concerning Introducedpublic 2/18/2005,employee bybenefits. Sen.

Iris Y.

Martinez - Emil Jones, Jr.

SYNOPSIS AS INTRODUCED:

ILCS 5/3-101 from Ch.

108 1/2, par.

3-101 Amends the Illinois Pension Code.

Makes a technical change in a Section concerning downstate police.

LRB094 04419 AMC 34448 b PENSION IMPACT NOTE ACT MAY APPLY A BILL FOR SB0796 LRB094 04419 AMC 34448 b AN ACT concerning public employee benefits.

The Illinois Pension Code is amended by changing SectionSections 3-1013-103, 3-125, and 3-145 as follows:

(40 ILCS 5/3-101)5/3-103) (from Ch.

3-101)3-103) Sec.

3-101.3-103.

CreationMunicipality. of fund.

In"Municipality": each municipality, as defined in Section 3-103, the the city council or the board of trustees, as the case may be, shall establish and administer a police pension fund, as prescribed in this Article, for the benefit of its police officers and of their surviving spouses, children, and certain other dependents.

(1) Any city, village or incorporated town of 5,000 or more but less than 500,000 inhabitants, as determined from the United States Government statistics or a census taken at any time by the city, village or incorporated town, and (2) any city, village or incorporated town of less than 5,000 inhabitants which, by referendum held under subsection (a) of Section 3-145 adopts this Article, and (3) any city, village, or incorporated town of less than 5,000 inhabitants that is located within a county that is subject to the limitations of the Property Tax Extension Limitation Law and that, in accordance with subsection (b) of Section 3-145, adopts this Article by resolution or ordinance.

83-1440.) (40 ILCS 5/3-125) (from Ch.

108 1/2, par.

3-125) Sec.

3-125.

Financing.

Except as otherwise provided in subsection (b) of Section 3-145, the The city council or the board of trustees of the municipality shall annually levy a tax upon all the taxable property of the municipality at the rate on the dollar which will produce an amount which, when added to the deductions from the salaries or wages of police officers, and revenues available from other sources, will equal a sum sufficient to meet the annual requirements of the police pension fund.

The annual requirements to be provided by such tax levy are equal to (1) the normal cost of the pension fund SB0796 Engrossed - 2 - LRB094 04419 AMC 34448 b for the year involved, plus (2) the amount necessary to amortize the fund’s unfunded accrued liabilities as provided in Section 3-127.

The tax shall be levied and collected in the same manner as the general taxes of the municipality, and in addition to all other taxes now or hereafter authorized to be levied upon all property within the municipality, and shall be in addition to the amount authorized to be levied for general purposes as provided by Section 8-3-1 of the Illinois Municipal Code, approved May 29, 1961, as amended.

The police pension fund shall consist of the following moneys which shall be set apart by the treasurer of the municipality:

(1) All moneys derived from the taxes levied hereunder;

(2) Contributions by police officers under Section 3-125.1;

(3) All moneys accumulated by the municipality under any previous legislation establishing a fund for the benefit of disabled or retired police officers;

(4) Donations, gifts or other transfers authorized by this Article.

(Source:

P.A.

83-1440.) (40 ILCS 5/3-145) (from Ch.

108 1/2, par.

3-145) Sec.

3-145.

Election to participate Referendum in municipalities less than 5,000.

(a) Except as provided in subsection (b), this This Article shall not be effective in any municipality having a population of less than 5,000 unless the proposition to adopt the Article is submitted to and approved by the voters of the municipality in the manner herein provided.

Whenever the electors of the municipality, equal in number to 5% of the number of legal votes cast at the last preceding general municipal election, petition the city, village or town clerk to submit the proposition whether that municipality shall adopt this Article, the officer to whom the petition is addressed shall certify the proposition to the proper election SB0796 Engrossed - 3 - LRB094 04419 AMC 34448 b officials who shall submit the proposition in accordance with the general election law at a regular election in the municipality provided that notice of the referendum, if held before July 1, 1999, has been given in accordance with the provisions of Section 12-5 of the Election Code in effect at the time of the bond referendum, at least 10 and not more than 45 days before the date of the election, notwithstanding the time for publication otherwise imposed by Section 12-5.

Notices required in connection with the submission of public questions on or after July 1, 1999 shall be as set forth in Section 12-5 of the Election Code.

If the proposition is not adopted at that election, it may be submitted in like manner at any regular election thereafter.