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2009 House Bill 1828: Resolving the Philadelphia pension crisis

Public Act 44 of 2009

Introduced by Rep. Jewell Williams (D) on July 3, 2009 To permit the city of Philadelphia to: utilize a 30-year amortization period for its pension fund instead of a 20-year period; defer a portion of city pension contributions in fiscal year 2010 and fiscal year 2011; defer $150 million of over $447 million in city pension contributions in fiscal year 2010; defer $80 million of over $538 million in city pension contributions in fiscal year 2011; repay deferred amounts with interest in total by fiscal year 2014; repay the entire $230 million deferral amount in fiscal year 2013 and fiscal year 2014; pay 8.25 percent interest on the amounts deferred during fiscal year 2010 through fiscal year 2014; and increase the sales tax by 1 percent for five years and earmark revenue from the increase to city pension payments.   Official Text and Analysis.
Referred to the House Appropriations Committee on July 3, 2009
Referred to the House Rules Committee on July 6, 2009
Referred to the House Appropriations Committee on July 7, 2009
Reported in the House on July 30, 2009
Passed 112 to 85 in the House on August 5, 2009 (same description)
To permit the city of Philadelphia to: utilize a 30-year amortization period for its pension fund instead of a 20-year period; defer a portion of city pension contributions in fiscal year 2010 and fiscal year 2011; defer $150 million of over $447 million in city pension contributions in fiscal year 2010; defer $80 million of over $538 million in city pension contributions in fiscal year 2011; repay deferred amounts with interest in total by fiscal year 2014; repay the entire $230 million deferral amount in fiscal year 2013 and fiscal year 2014; pay 8.25 percent interest on the amounts deferred during fiscal year 2010 through fiscal year 2014; and increase the sales tax by 1 percent for five years and earmark revenue from the increase to city pension payments.
Received in the Senate on August 5, 2009
Referred to the Senate Finance Committee on August 5, 2009
Reported in the Senate on August 24, 2009
Amendment offered by Sen. Patrick M. Browne (R) on August 26, 2009
The amendment passed by voice vote in the Senate on August 26, 2009
Passed 38 to 9 in the Senate on August 26, 2009 To permit the city of Philadelphia to: utilize a 30-year amortization period for its pension fund instead of a 20-year period; defer a portion of city pension contributions in fiscal year 2010 and fiscal year 2011; defer $150 million of over $447 million in city pension contributions in fiscal year 2010; defer $80 million of over $538 million in city pension contributions in fiscal year 2011; repay deferred amounts with interest in total by fiscal year 2014; repay the entire $230 million deferral amount in fiscal year 2013 and fiscal year 2014; pay 8.25 percent interest on the amounts deferred during fiscal year 2010 through fiscal year 2014; and increase the sales tax by 1 percent for five years and earmark revenue from the increase to city pension payments .
Received in the House on August 26, 2009
Referred to the House Rules Committee on August 26, 2009
Reported in the House on September 10, 2009
Passed 113 to 76 in the House on September 11, 2009 (same description)
To permit the city of Philadelphia to: utilize a 30-year amortization period for its pension fund instead of a 20-year period; defer a portion of city pension contributions in fiscal year 2010 and fiscal year 2011; defer $150 million of over $447 million in city pension contributions in fiscal year 2010; defer $80 million of over $538 million in city pension contributions in fiscal year 2011; repay deferred amounts with interest in total by fiscal year 2014; repay the entire $230 million deferral amount in fiscal year 2013 and fiscal year 2014; pay 8.25 percent interest on the amounts deferred during fiscal year 2010 through fiscal year 2014; and increase the sales tax by 1 percent for five years and earmark revenue from the increase to city pension payments.
Received in the Senate on September 14, 2009
Referred to the Senate Rules & Executive Nominations Committee on September 14, 2009
Passed 32 to 17 in the Senate on September 17, 2009 To permit the city of Philadelphia to: utilize a 30-year amortization period for its pension fund instead of a 20-year period; defer $150 million of over $447 million in city pension contributions in fiscal year 2010; defer $80 million of over $538 million in city pension contributions in fiscal year 2011; repay deferred amounts with interest in total by fiscal year 2014; repay the entire $230 million deferral amount in fiscal year 2013 and fiscal year 2014; pay 8.25 percent interest on the amounts deferred during fiscal year 2010 through fiscal year 2014; and increase the sales tax by 1 percent for five years and earmark revenue from the increase to city pension payments .
Signed by Gov. Edward G. Rendell on September 18, 2009

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