IL HB1371

Delays by one year the implementation of a state payment diversion procedure for downstate police and firefighter pension funds, changing the effective date from fiscal year 2016 to fiscal year 2017.

When a municipality is more than 90 days overdue in making required pension contributions, the State Comptroller must deduct delinquent amounts from grants of State funds to that municipality and deposit them into the pension fund.

Establishes a phase-in schedule for the diversion: one-third of state grants in fiscal year 2017, two-thirds in fiscal year 2018, and 100% in fiscal year 2019 and thereafter.

Restricts the Comptroller from deducting more than the actual amount of delinquent payments certified by the pension fund.

Amends the Downstate Police Article (40 ILCS 5/3-125) and Downstate Firefighter Article (40 ILCS 5/4-118) of the Illinois Pension Code, effective immediately upon enactment.