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    AN ACT concerning public employee benefits.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:



 
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    Section 5. The Illinois Pension Code is amended  by changing 
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Section 3-145 as follows:
 



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    (40 ILCS 5/3-145)  (from Ch. 108 1/2, par. 3-145)



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    Sec. 3-145. Referendum in municipalities less than 5,000. 
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    (a) This Article
shall not be effective in any
municipality 
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having a population of less than 5,000 unless the
proposition 
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to adopt the Article is submitted
to and approved
by the voters 
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of the municipality in the manner herein provided.

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    Whenever the electors of the municipality, equal in number 
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to 5% of
the number of legal votes cast at the last preceding 
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general municipal
election, petition the city, village or town 
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clerk to submit the proposition
whether
that municipality shall 
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adopt this Article, the officer to whom the
petition is 
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addressed shall certify the proposition to the proper election

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officials who shall submit the proposition in accordance
with 
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the general election law at a regular election in the 
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municipality
provided that notice of the referendum, if held

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before July 1, 1999,
has been given in accordance with the 
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provisions of Section
12-5
of the Election Code in effect at 
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the time of the bond referendum, at least
10 and not more than 
 


 






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45 days before the date of
the election, notwithstanding the 
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time for publication otherwise imposed by
Section 12-5.
Notices 
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required in connection with the submission of public questions

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on or after July 1, 1999 shall be as set forth in Section 12-5 
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of the Election
Code.
If the proposition is not adopted at
that 
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election, it may be submitted in like manner at any regular 
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election
thereafter. The
proposition shall be substantially in 
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the following form:

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-------------------------------------------------------------

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    Shall the city (or village or

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incorporated town) of.... adopt           YES

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Article 3 of the "Illinois Pension    -----------------------

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Code", pertaining to the creation         NO

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of a police pension fund?

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-------------------------------------------------------------

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If a majority of the votes cast on the proposition
is for the 
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proposition, this Article is adopted in that municipality.

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    (b) For a period of 60 days after the effective date of 
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this amendatory Act of the 96th General Assembly, if a 
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municipality having a population of less than 5,000 has adopted 
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this Article in accordance with the provisions of subsection 
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(a), the municipality may elect to terminate participation 
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under this Article if all of the following conditions are met:
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        (1) An independent auditor certifies that the fund 
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    created under this Article has no liabilities and there are 
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    no members or participants in the fund and no beneficiaries 
 


 






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    entitled to benefits under the fund.
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        (2) The corporate authorities of the municipality, by 
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    ordinance, approve the closing of the fund.
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    If the conditions of this subsection (b) are met and the 
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closed fund contains assets, those assets shall be transferred 
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to the municipality for its general corporate purposes.

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    If a municipality that terminates participation under this 
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Article in accordance with this subsection (b) wants to 
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reinstate the fund, then the proposition to re-adopt the 
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Article must be submitted to and approved
by the voters of the 
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municipality in the manner provided in subsection (a).

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(Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.