SB1518 Summary

• Requires taxing districts that pick up or pay employees' contributions to public pension funds to annually certify the dollar amount of their tax levy used for this purpose to county clerks by the last Tuesday in December.

• Mandates that each property tax bill include a separate statement for each taxing district showing the dollar amount of tax due that will be used to pick up or otherwise pay employees' public pension fund contributions.

• Amends the Property Tax Code by adding Section 18-17 and modifying Section 20-15 to implement these pension contribution disclosure requirements.

• Takes effect immediately upon becoming law.