Rep. Kevin A. McCarthy

Creates the Employment Termination Statement Act. Provides that an employer that employs 12 or more employees in Illinois shall mail or deliver to a terminated employee, who has been employed by the employer for at least 60 days, a written statement of the reasons for the termination within 14 days after terminating the employee. Excludes voluntary leaving. Provides that the Director of Labor shall administer and enforce the Act and may adopt rules necessary to administer and enforce the Act. Provides for hearings, relief, and civil penalties. Provides that a willful violation of the Act is a petty offense.

Amends the School Code. Requires the statement of affairs of a school district (other than the Chicago school district) to be available in the district office for public inspection, upon request, and to be submitted to the State Board of Education for posting on the State Board of Education's Internet website (instead of requiring the statement to be published in a newspaper). Provides that the statement must include the total amount for both cash receipts and disbursements (or for both revenue and expenses if the accrual system of accounting is used). Changes the payment for personnel categories.

Creates the Employment Termination Notice Act. Provides that an employer who employs 12 or more employees in Illinois must give a terminated employee, who has been employed by the employer for at least one year, a written termination notice of at least one week or, at the employer's option, termination pay in an amount equal to the wages the employee would have earned if the employee had worked his or her regular hours of work for one week. Excludes voluntary leaving and termination for cause. Provides that termination pay shall be in addition to any other payments that the employee may owe to the terminated employee. Provides that the Director of Labor shall administer and enforce the Act and may adopt rules necessary to administer and enforce the Act. Provides for hearings, relief, and civil penalties. Provides that a willful violation of the Act is a petty offense.

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 Public University Energy Conservation Act and the Public Community College Act. Requires each public university and community college district to submit an annual report to the Board of Higher Education or Illinois Community College Board detailing the university's or district's plan and progress for demand-side energy management. Provides that this report must be posted on the university's or district's Internet website, if any. Requires the Board of Higher Education and Illinois Community College Board to publish on their Internet websites a comparison of demand-side energy management programs so a user can easily identify which energy management programs are most effective. Effective immediately.

Amends the Chicago Teacher Article of the Pension Code. Accelerates the initial annual increase in retirement pension to the January following the first anniversary of retirement. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Amends the Public Community College Act. Makes changes concerning equalization grants to community college districts. Provides that equalization grants shall be distributed to districts based upon the higher of (i) an EAV-based equalization calculation using the equalized assessed valuation of property within the district or (ii) a PTE-based equalization calculation using the property tax extension within the district. Effective July 1, 2005.

Amends the Public Community College Act. Make a technical change in a Section concerning nominating board of trustee members.

Appropriates $1,250,000, or so much of that amount as may be necessary, from the General Revenue Fund to the Department of Commerce and Economic Opportunity for grant payments under grant agreement No. 02-120581 to the Village of Orland Park for the construction of a police station. Effective July 1, 2005.

Amends the Public Utilities Act. Makes a technical change in the short title Section.