PEN CD-CHGO POL-TAX MULTIPLIER Senate SponsorsSen. James A. DeLeo 1/9/2007SenateSession Sine Die 40 ILCS 5/5-168from Ch. 108 1/2, par. 5-168Amends 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 (Commission on Gov't Forecasting and Accountability) Senate Bill 367 would significantly increase the annual employer contributions to the Fund. In FY 2003, the City of Chicago made employer contributions of approximately $140.7 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 contributions generated by the tax levy would have totaled approximately $159.0 million, an increase of $18.3 million. 2/15/2005SenateFiled with Secretary by Sen. James A. DeLeo 2/15/2005SenateFirst Reading 2/15/2005SenateReferred to Rules 2/17/2005SenateAssigned to Pensions & Investments 3/2/2005SenatePostponed - Pensions & Investments 3/9/2005SenatePostponed - Pensions & Investments 3/11/2005SenatePension Note Filed from the Commission on Government Forecasting and Accountability. 3/16/2005SenatePostponed - Pensions & Investments 3/18/2005SenateRule 3-9(a) / Re-referred to Rules 1/9/2007SenateSession Sine Die