LABOR REL-FINANCIAL ABILITY

Amends the Illinois Public Labor Relations Act. Provides that if a unit of local government, as an employer, and public employees provide for arbitration of impasses, the employer's financial ability to fund the proposals based on existing available resources shall be given primary consideration, provided that such ability is not predicated on an assumption that lines of credit or reserve funds are available or that the employer may or will receive or develop new sources of revenue or increase existing sources of revenue. Modifies the factors by which an arbitration panel shall base its findings, opinions, and order on a new agreement or amendment upon. Provides that arbitration decisions regarding peace officers, fire fighters, and fire department or fire district paramedic matters under the Act shall not include residency requirements. Amends the Illinois Educational Labor Relations Act. With respect to collective bargaining between an educational employer (other than the Chicago school district) and an exclusive representative of its employees, provides that when making wage and benefit determinations during interest arbitration, the employer's financial ability to fund the proposals based on existing available resources shall be given primary consideration, provided that such ability is not predicated on an assumption that lines of credit or reserve funds are available or that the employer may or will receive or develop new sources of revenue or increase existing sources of revenue.