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IL HB2472

Bill

Official Source

Status

Introduced

2/17/2015

Primary Sponsor

Monique Davis

Click for details

Origin

House of Representatives

99th General Assembly

AI Summary

  • Establishes that beginning in State fiscal year 2016, the State shall make annual contributions to the Chicago Public School Teachers' Pension and Retirement Fund.

  • Sets the State contribution for fiscal year 2016 at $374,270,000.

  • Requires the Board of Trustees of the Fund to certify the required State contribution to the Governor by January 15th each year after 2016.

  • Specifies that the certified contribution for years after 2016 shall equal 10% of the amount certified for the downstate teachers retirement system (Article 16) contribution.

  • Takes effect immediately upon becoming law.

Legislative Description

PENS CD-CHI TEACHERS-REVENUE

Last Action

Rule 19(a) / Re-referred to Rules Committee

3/27/2015

Committee Referrals

Rules3/27/2015
Approp-Elementary & Secondary Education3/2/2015
Rules2/18/2015

Full Bill Text

No bill text available