Senate Sponsors: RADOGNO. Short description: PEN CD-CHGO POL-TAX MULTIPLIER Synopsis of Bill as introduced: Amends the Chicago Police Article of the Illinois 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 1602 would significantly increase the annual employer con- tributions to the Fund. In FY 2000, the City of Chicago made employer contributions of approximately $139.4 million, using a property tax multiplier of 2.00. If a property tax multiplier of 2.26 had been in effect that year, the employer contribu- tions generated by the tax levy would have totaled approxi- mately $157.5 million, an increase of $18.1 million. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status