IL HB1280

Amends the Illinois Pension Code Section 4-101 to allow municipalities with 5,000 to fewer than 15,000 inhabitants to defer establishment of a firefighters' pension fund by ordinance or resolution for no more than 5 years upon a finding of economic exigency.

Permits renewal of deferral ordinances or resolutions based on continuing economic exigency until the municipality reaches a population of 15,000 as determined by the most recent census data.

Amends Section 4-106 to exclude from the definition of "firefighter" any person employed by a municipality that has deferred its establishment of a pension fund under the economic exigency provision.

Applies to municipalities subject to Division 1 or Division 2.1 of Article 10 of the Illinois Municipal Code, as well as municipalities not subject to either division.

Takes effect upon becoming law.