Amends the General Obligation Bond Act. Increases by $152,000,000 the amount of General Obligation Bonds authorized to be sold for grants to school districts for school improvement projects authorized by the School Construction Law. Effective immediately.
Amends the School Code. Makes technical changes in a Section concerning the State aid formula.
Amends the Illinois Vehicle Code. Provides that an applicant for an instruction permit who is under the age of 18 must undergo testing for controlled substances and cannabis and must be found to be free of controlled substances and cannabis before he or she may receive an instruction permit. Provides that the Secretary of State shall adopt rules for implementing the new provision and shall prescribe an additional fee, to be added to the fees charged for the issuance of a first-time driver's license, to cover the cost of the testing.
Amends the Children with Disabilities Article of the School Code. Prohibits the State Board of Education from adopting any rule pursuant to that Article that imposes a responsibility or requirement on a school district or school that (i) conflicts with rules and regulations of the U.S. Department of Education pursuant to the federal Individuals with Disabilities Education Act or (ii) is not imposed by the U.S. Department of Education pursuant to the federal Individuals with Disabilities Education Act. Provides that any rule adopted by the State Board of Education that violates this prohibition is null and void and has no effect beginning on January 1, 2006. Effective January 1, 2006.
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that "extension limitation" means (a) the lesser of 5% or the percentage increase in the Employment Cost Index or, upon referendum approval, the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate increase approved by the voters. Defines "Employment Cost Index" as the Employment Cost Index for total compensation for civilian and state and local government workers published by the United States Department of Labor. Sets forth referendum procedures to allow for the calculation of the extension limitation based upon the Consumer Price Index. Effective immediately.
Amends the School Construction Law. Provides that for school districts that have consolidated within a prior fiscal year, the grant index shall be calculated for each of those school districts that form the new school district. Provides that whichever grant index is the highest shall be used as the grant index for the newly consolidated school district.
Amends the School Code. Provides that the statement of affairs of certain school districts shall be made available to the public by posting the statement on the district's Internet web site, if any, having copies available in the administrative office of the district, and publishing notice on where the statement is available in a newspaper of general circulation (now, the statement itself is required to be published in the newspaper). Effective immediately.
Creates the Patented Seed Act. Requires that a farmer who plants patented seed and seeks to retain seed from the harvest for the purpose of replanting must register with the Department of Agriculture the type of seed and the quantity of seed to be retained. Requires that the farmer pay a $7 fee per bushel, which shall be used by the Department to pay the patent holder and defray administrative costs. Limits a farmer's liability for death, injury, or loss relating to patented seed. Amends the State Finance Act to create the Genetically Engineered Seed Fund as a special fund in the State treasury for the deposit of the fees. Effective immediately.
Amends the Truth in Taxation Law in the Property Tax Code. Makes changes concerning the notice required to be published for a public hearing to approve a proposed property tax increase. Provides that for corporate and special purpose property taxes the notice shall set forth the proposed estimated (now, only proposed) corporate and special purpose property taxes to be levied for the current year and provides that the dollar amount supplied in the notice is estimated and the percentage increase or decrease over the previous year is an estimated percentage. In those parts of the notice concerning estimated property taxes to be levied for debt service and public building commission leases and estimated total property taxes to be levied for the current year, provides that the dollar amount stated in the notice is estimated and that the percentage increase or decrease over the previous year is an estimated percentage. 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.
