STEM CELL RESEARCH ACT

Creates the Stem Cell Research and Human Cloning Prohibition Act. Permits research involving the derivation and use of human embryonic stem cells, human embryonic germ cells, and human adult stem cells from any source, including somatic cell nuclear transplantation, and allows public funding for stem cell research programs. Requires the Department of Public Health to develop and administer the Illinois Regenerative Medicine Institute program to provide for the awarding of grants to Illinois medical research institutions. Creates the Illinois Regenerative Medicine Institute Oversight Committee. Provides that a Committee member with a conflict of interest shall not vote upon or participate in any Committee action with respect to that matter. Requires each Committee member to file disclosures with the Secretary of State. Prohibits cloning or attempts to clone a human being. Prohibits the purchase or sale of embryonic or cadaveric fetal tissue for research purposes. Makes the purchase or sale of embryonic or cadaveric fetal tissue for research a Class A misdemeanor for the first conviction and a Class 4 felony for subsequent convictions.