Rep. Bill Mitchell

Congratulates Fire Chief David Belskamper of Macon on his retirement.

Amends the Criminal Code of 1961. Provides heightened criminal penalties for criminal damage to farm equipment or immovable items of agricultural production, including but not limited to grain bins and barns. Provides that trespass on certain agricultural properties is a Class A misdemeanor (rather than a Class B misdemeanor) and provides that such trespass on or after September 1 but before November 1 is a Class 4 felony. Effective immediately.

Amends the Illinois Income Tax Act. Allows an income tax credit in an amount equal to 15% of the premium costs paid for a qualified long term care insurance contract covering the individual taxpayer or the taxpayer's spouse, parent, or dependent. Provides that the credit may not exceed $200 or the taxpayer's liability, whichever is less. Prohibits the carry forward of an excess tax credit to a succeeding year's tax liability. Exempts the credit from the sunset provisions. Effective immediately.

Amends the Illinois Enterprise Zone Act. Provides that areas of a county or a municipality that are qualified to become an enterprise zone shall also be qualified to become an agri-zone. Sets forth that an agribusiness located within an agri-zone shall be eligible to receive the same State and local incentives and assistance under the same circumstances as businesses in enterprise zones. Provides certain limitations on the agri-zones created under this Section. Makes other changes.

Appropriates $7,000,000 to the Department of Veterans’ Affairs for the creation of a veterans’ home at the Lincoln Developmental Center for veterans with Alzheimer’s disease. Effective immediately.

Amends the School Code. In the State aid formula provisions, provides that the foundation level of support for each school year after the 2004-2005 school year shall be equal to the foundation level of support for the preceding school year, increased by (i) the percentage increase, if any, in the Consumer Price Index for All Urban Consumers for all items or (ii) 3%, whichever is greater. Effective immediately.

Amends the State Finance Act. Excludes moneys received by the Department of Financial and Professional Regulation under the Illinois Credit Union Act from those moneys required to be deposited into the Financial Institution Fund. Makes certain provisions concerning transfers to the General Revenue Fund inapplicable to (i) any fund established under the Illinois Credit Union Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, or the Savings Bank Act and (ii) the Professions Indirect Cost Fund. Limits transfers and expenditures from those funds to specified purposes. Prohibits the allocation or transfer of additional amounts generated by certain fee increases with respect to or from the Credit Union Fund. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, and the Savings Bank Act. With respect to the moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund, (i) exempts those moneys from assignment or transfer except for unappropriated administrative expenses and (ii) provides that the moneys remain the property of and must be held in trust for the financial institutions from which they were collected. For FY08, requires the Commissioner of Banks and Real Estate (now, the Director of the Division of Banks and Real Estate) to adopt rules to adjust regulatory fee rates in the specified manner. Amends the Illinois Credit Union Act. Provides that the regulatory fee paid by a credit union to the Department of Financial and Professional Regulation shall be the lesser of (i) the rate pursuant to the regulatory fee schedule or (ii) a rate established in a manner proportionately consistent with the rates in the regulatory fee schedule and that would fund the actual administrative and operational expenses of the Credit Union Section. Increases rates in the regulatory fee schedule for credit unions with total assets over $5,000,000. Requires the Director of Financial and Professional Regulation to adjust the fee schedule for the next fiscal year. Provides that the fee schedule may be increased by no more than 5% annually if necessary to defray the actual (now, estimated) administrative and operational expenses of the Credit Union Section (now, the Department). Prohibits any increase in the fee schedule if the amount remaining in the Credit Union Fund at the end of the fiscal year is equal to or greater than 25% of the actual administrative and operational expenses for the preceding fiscal year. Requires the Director to base the regulatory fee for the next fiscal year on the credit union's total assets as of December 31 of the preceding calendar year. Beginning on July 1, 2005, requires a credit union to pay the regulatory fee in quarterly installments due and payable on the due date for the call report for the preceding quarter (now, a credit union is required to pay the regulatory fee in full no later than March 1 of each calendar year). Provides for a regulatory fee cap of $125,000 (now, $187,500). Effective immediately.

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides a tax exemption under the Acts on any furnace or stove specifically designed to produce heat by burning shelled corn. Effective immediately.

Amends the Municipal Code. In a Section that allows non-home rule municipalities to impose certain occupation and use taxes for expenditure on public infrastructure, changes the definition of "public infrastructure" to include public schools in the Village of Forsyth. Effective immediately.

Amends the Criminal Code of 1961. Makes a technical change in a Section concerning the definition of "conviction".