IL HB5426

Requires Chicago to deposit a minimum of 20% of proceeds from newly established gaming revenue sources (from 2012 legislation or later) into the Chicago Firefighter Annuity and Benefit Fund.

Deposits must continue until the fund achieves stabilization as determined by an independent actuarial organization agreed upon by the city, employee representatives, and the fund board.

Establishes that these additional gaming revenue contributions are intended for emergency stabilization of the fund and do not reduce other required city pension contributions.

Amends the State Mandates Act to exempt this requirement from state reimbursement obligations.

Takes effect immediately upon becoming law.