The Senate overwhelmingly rejected Speaker Madigan’s SB 1 for a third time today. This action prompted the House and Senate to form a joint “conference committee” on pensions. At this point, the committee intends to work on new pension legislation and will aim to develop a bill by July 8 for consideration in another special session. Details are still forthcoming.
Meanwhile, SB 2404 received its first hearing in the House. In positive news, Speaker Madigan did NOT gut the bill by amending it with his own proposal. This means that SB 2404 remains intact and unchanged and still awaits House action.
Stay tuned for updates as they develop.