Bill to delay Chicago school pension payment fails in House

Published 06/23/2015, 03:58 PM
Bill to delay Chicago school pension payment fails in House

CHICAGO (Reuters) - A bill that would give the Chicago Public Schools until Aug. 10 to make a $634 million payment to its pension fund failed on Tuesday to attract enough votes in the Illinois House to pass.

The 53-46 vote fell short of the 71 affirmative votes needed to give the measure, which passed a House committee earlier on Tuesday, immediate effect.

The nation's third-largest public school system is struggling to come up with money to make the state-mandated payment by June 30.

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