91st General Assembly
Summary of SB1469
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Senate Sponsors:
RADOGNO.

Short description: 
PEN CD-CHGO POL-TAX MULTIPLIER                                             

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Pension Code to increase      
   the multiplier used to calculate the maximum  allowable  pension  tax,      
   from 2.00 to 2.26.  Effective immediately.                                  
          PENSION NOTE (Pension Laws Commission)                               
          SB 1469 would significantly increase the annual employer con-        
          tributions. In FY98, these contributions totaled $118.2 mil-         
          lion, using a property tax multiplier of 2.00. A property tax        
          multiplier of 2.26 would have generated $133.6 million.              
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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