IL HB2907

Modifies the salary limit for Tier 2 Chicago firefighters hired on or after January 1, 2011, changing the annual adjustment from the lesser of 3% or half the consumer price index-u to the full annual unadjusted percentage increase in the consumer price index-u, effective beginning in 2021.

Maintains the current adjustment method (3% or half the CPI-u, whichever is less) through 2020, with the new full CPI-u adjustment beginning in 2021 and continuing annually thereafter.

Establishes that the consumer price index-u is measured by the Bureau of Labor Statistics for all urban consumers using the 1982-84 baseline, with adjustments calculated for the 12 months ending in September and announced by November 1 each year.

Adds Section 8.43 to the State Mandates Act exempting the implementation of this change from requiring state reimbursement to local governments.

Takes effect immediately upon becoming law.