Amends the Property Tax Code. Creates a homestead improvement exemption for the installation and maintenance of a residential fire safety sprinkler system. Provides that homestead properties that (i) have been improved with a fire safety sprinkler system after January 1, 2008 (ii) or have been modified after January 1, 2008 under a safety compliance plan are entitled to a fire safety sprinkler homestead improvement exemption, limited to $2,500 or the actual cost of installation, whichever is less, for the year that the system is installed, and $100 each year thereafter that the system remains in place, when that property is owned and used exclusively for a residential purpose. Further amends the Property Tax Code to add cross-references. Amends the State Mandates Act to require implementation without reimbursement from the State. Effective immediately.
Sponsored bills
Amends the Payday Loan Reform Act. Changes the definition of "payday loan" to include any loan with a finance charge exceeding an annual percentage rate of 36% (instead of with a finance charge exceeding an annual percentage rate of 36% and with a term that does not exceed 120 days). Provides that no lender may make a payday loan with periodic payments unless the periodic payments are substantially equal term payments and, if paid as scheduled, result in full payment of the principal and interest owed on the loan at the end of the loan term. Requires the licensee, as part of the information that he or she must collect and maintain, to include the total number of lawsuits filed by the licensee or its agent against consumers to collect on payday loans from consumers during the preceding calendar year. Prohibits a licensee or a person making payday loans from evading the requirements and prohibitions of the Act by use of a device or subterfuge including, but not limited to, (i) disguising a payday loan as a different type of transaction, or (ii) characterizing a required fee as a purchase of a good or service in connection with a payday loan. Authorizes the Department to develop rules to determine if any person or entity seeks to evade the applicability of this Act by any device, subterfuge, or pretense. Effective immediately.
Amends the Illinois Banking Act. Makes a technical change in a Section concerning the primary powers of banks.
Amends the Riverboat Gambling Act. Makes a technical change in a Section concerning the annual report of the Illinois Gaming Board.
Creates the Predatory Home Loan Practices Act. Prohibits various practices and charges in connection with home loans made to persons with respect to their primary residence. Prohibits the imposition of prepayment penalties, flipping of loans, and lender financing of credit insurance. Imposes limitations on high-cost loans. Prohibits loans unless the lender reasonably believes that the borrower is able to make scheduled payments to repay the loan without respect to the borrower's equity in the property. Authorizes a borrower to obtain damages for violations of the Act.
Amends the Illinois Banking Act. Makes a technical change in a Section concerning the primary powers of banks.
Amends the Unified Code of Corrections. Makes a technical change in a Section concerning the supervision of persons on parole or mandatory supervised release.
Amends the Illinois Municipal Code. Makes a technical change in a Section concerning zoning and special uses.
Amends the Illinois Pension Code, the Charter Schools Law of the School Code, and the School Construction Law. In the Chicago Teachers Article of the Illinois Pension Code, provides that the definition of employer includes charter schools only with respect to persons hired before the effective date of the amendatory Act. Makes changes concerning local financing for charter schools. Provides that the State Board of Education shall make direct payments to charter schools on a per capita basis for each categorical otherwise available to a school board for students enrolled in the charter school. Provides that the State Board shall make direct grants of up to 25% of the per capita grants to charter schools whose performance is superior. Provides that in determining the amount of school construction project grants and debt service grants, the State Board shall review an application from a charter school independently from the application of the authorizing school board and shall dedicate and direct a reasonable portion of these grants towards the needs of those students enrolled in applicant charter schools that are eligible for the grants. Effective immediately.
Amends the Illinois Banking Act. Makes a technical change in a Section concerning the primary powers of banks.