CHICAGO - The Illinois General Assembly is expected to vote next week on a proposal from Gov. Pat Quinn to issue up to $2.23 billion of five-year general obligation bonds to fund a portion of the state's $4 billion pension payment owed to the retirement systems in fiscal 2010.

Under SB 415, now before the General Assembly, the state would use the proceeds of the sale to cover the general fund-supported portion of the payment that goes toward the $73 billion unfunded pension liability.

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