Rep. Ann Williams

Urges the General Assembly to implement numerous budgeting practices to standardize the annual budget process. Urges the General Assembly to not approve the expenditure of funds for new programs and services without providing an examination of the cost/benefit analysis of said program or service and a finding that the addition of the new program or service provides significant long-term benefit to the State's fiscal health by realizing cost savings or meets an overriding public policy need. Urges the General Assembly to conduct such an analysis at the committee level, with each substantive and appropriations committee creating a working subcommittee to consider such measures and evaluate the aforementioned criteria.

Amends the Personal Information Protection Act. Expands the scope of information to be protected to include medical, health insurance, biometric, consumer marketing, and geolocation information. Requires notice of breaches of security to be provided to the Attorney General. Requires privacy policies to be posted.

Creates the Illinois Trust Code. Provides that the Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. Defines terms. Adds provisions governing: judicial proceedings; representation; creation, validity, modification, and termination of trusts; creditor's claims; spendthrift and discretionary trusts; revocable trusts; the office of trustee; duties and powers of the trustee; the Illinois Uniform Prudent Investor Act; life insurance; affiliated investments; liability of trustees and rights of persons dealing with trustee; total return trusts; trust decanting; the Uniform Powers of Appointment Act; perpetuities; and application of the Code to existing trusts. Repeals a Section of the Probate Act of 1975 concerning testamentary powers of appointment. Repeals the Trusts and Trustees Act, the Trusts and Dissolutions of Marriage Act, the Statute Concerning Perpetuities, the Perpetuities Vesting Act, the Trust Accumulation Act, the Power of Appointment Exercise Act, and the Termination of Powers Act. Makes corresponding changes in the Public Use Trust Act, the Township Code, the Corporate Fiduciary Act, the Community-Integrated Living Arrangements Licensure and Certification Act, the Title Insurance Act, the Illinois Funeral or Burial Funds Act, the Mental Health and Developmental Disabilities Code, the Illinois Marriage and Dissolution of Marriage Act, the Probate Act of 1975, the Illinois Power of Attorney Act, the Common Trust Fund Act, the Religious Corporation Act, and the Illinois Pre-Need Cemetery Sales Act. Effective January 1, 2017.

Amends the Presumptively Void Transfers Article of the Probate Act of 1975. Replaces references to the term "transfer instrument" with "transfer". Changes the definitions of "caregiver", "family member", "transfer", "transferee", and "transferor". Provides that if the property in question is an interest in real property, a purchaser or mortgagee for value and without notice, before the recordation of a lis pendens for an action, shall take free and clear of the action. Effective immediately.

Amends the Illinois Income Tax Act. Creates an income tax checkoff to allow taxpayers to make contributions to Special Olympics Illinois and Special Children's Charities. Effective immediately.

Amends the Illinois Educational Labor Relations Act. Makes a technical change in a Section concerning the short title of the Act.

Amends the Chicago School District Article of the School Code. Provides that the competitive bidding requirement for contracts involving an expenditure in excess of $25,000 (or such lower amount as required by school board policy) applies even if the contract is for the services of persons possessing a high degree of professional skill where the ability or fitness of the person plays an important part, unless that contract is an employment contract. Effective immediately.

Amends the Retailers' Occupation Tax Act. In provisions concerning certificates of registration, removes a requirement that publicly traded corporations must provide the last 4 digits of the social security numbers of their Chief Financial Officer, Chief Operating Officer, and any other officer or employee with responsibility for preparing tax returns.

Amends the Uniform Penalty and Interest Act. Provides that the penalty for failure to pay the tax shown due or required to be shown due on a return shall be 15% (instead of 20%) of any amount that is paid after the date the Department has initiated an audit or investigation of the taxpayer. Provides that the penalty shall be rescinded if the taxpayer paid to the Department at least 95% of the final liability resulting from an audit or investigation prior to the initiation of the audit or investigation

Amends the Election Code. Makes a technical change in a Section concerning the nomination of candidates for the General Assembly.