IL HB1736

Amends the Illinois Pension Code to add the Joliet Regional Port District to the list of participating instrumentalities eligible to join the Illinois Municipal Retirement Fund (IMRF)

The Joliet Regional Port District must meet standard requirements for participation, including submitting an application approved by a two-thirds vote of its governing body at least 90 days before the proposed effective date

The IMRF Board must determine that the Port District has reasonable expectation to continue as a political entity for at least 10 years and has the financial capacity to meet its current and future obligations to the Fund

The area served by the Port District cannot be located entirely within a municipality having more than one million inhabitants (i.e., Chicago)

Takes effect immediately upon becoming law