Rep. Ralph C. Capparelli

Amends the Illinois Insurance Code. Makes technical changes in a Section concerning the short title.

Amends the Illinois Bank Holding Company Act of 1957. Limits the time that an Illinois bank resulting from a merger will be considered to have been in existence, under certain circumstances. Effective immediately.

Amends the Chicago Police Article of the Illinois Pension Code. Increases the minimum annuity payable to widows, from $800 to $1,200 per month. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Military Code of Illinois. Provides that a person who is a member of the Illinois National Guard or the federal military and who is on active duty shall be accorded all of the relief and benefits under the laws of this State that are accorded to federal military personnel on active duty under the Soldiers' and Sailors' Civil Relief Act of 1940 if the person provides written notice of his or her active duty in the same manner that notice is provided under the Soldiers' and Sailors' Civil Relief Act of 1940. Requires notice of termination of active duty within 30 days after that termination. Amends the Illinois Income Tax Act. Provides that, for taxable years ending on or after December 31, 2003, each taxpayer is entitled to an income tax credit in the amount of $1,000 per taxable year if, at any time during the taxable year, the taxpayer's spouse served on active duty in the Illinois National Guard or a reserve component of the armed forces of the United States. Allows the credit to be carried forward for 10 years and exempts the credit from the sunset provisions of the Act. Effective immediately.

Amends the Illinois Housing Development Act. Specifies that the definition of "residential mortgage" applies to mortgages on real property improved by multi-unit structures as well as single-unit structures. Makes other stylistic changes. Effective immediately.

Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that a widow's annuity shall no longer be terminated or suspended due to remarriage, and provides for the resumption of widow's annuities that have been suspended or terminated for remarriage. Provides for payment of a widow's annuity to certain widows who married a deceased fireman during disability or the period between withdrawal from service and the commencement of a retirement annuity; requires repayment of any refund of contributions for widow's annuity that has been received, plus interest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Metropolitan Water Reclamation District Article of the Illinois Pension Code. Provides that a child's annuity is payable to a child who is over 18 years of age, but less than 23 years of age, if he or she is a full-time student. Eliminates the 3-day waiting period for the payment of a duty disability benefit for certain persons. Creates an interim disability benefit for an employee who has a pending workers' compensation claim or who is awaiting a final determination by the Industrial Commission. Provides a minimum annuity for certain retirees and surviving spouses. Authorizes employer pickup and tax-deferred status for contributions made toward the alternative plan for commissioners. With respect to the 5 years of service needed to establish eligibility for a disability retirement annuity, excludes service credit earned while on disability for new employees. Clarifies the calculation of service with respect to the Optional Plan. Allows an employee who has returned to service to repay a prior refund within the 90 days following his or her final withdrawal from service. Allows payment of a refund to certain nonvested employees who are under age 55 (rather than 50). Provides that the refund due to a person who enters service on or after the effective date of this amendatory Act and who must forfeit his or her pension because of a felony conviction shall be equal to his or her contributions (including amounts paid by the person to establish additional or optional credit), without interest, less the amount of any benefits paid to the person (including benefits paid to an alternate payee under a QILDRO). Provides that the refund shall not include employer contributions or any interest on contributions. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Currency Exchange Act. Makes a technical change in a Section concerning the short title.

Amends the Chicago Police Article of the Illinois Pension Code. Raises the minimum occupational disease disability benefit from 50% to 60% of current salary and makes it apply to benefits that have been payable for 7 (rather than 10) years. Makes these changes retroactive to January 1, 2000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.