IL HB2523

Establishes a 9-member transition board of trustees for a police pension fund, appointed by the Governor with Senate consent within one month of the effective date, consisting of 3 municipal representatives, 3 participant members, 2 beneficiary members, and 1 Illinois Municipal League representative.

Creates a permanent 9-member board of trustees elected by municipalities, participants, and beneficiaries, with 3 municipal representatives, 3 participant members, 2 beneficiary members, and 1 Illinois Municipal League representative appointed by the Governor with Senate consent.

Requires the permanent board chairperson to serve 2-year terms with alternating leadership between municipal/appointed representatives and participant/beneficiary elected members.

Allows municipalities to grant reasonable paid time off to police officers serving as trustees for board business and travel, with the Fund reimbursing municipalities for associated costs.

Removes restrictions on Illinois Municipal League representatives from compliance with the Lobbyist Registration Act's lobbying restrictions.