Amends the Chicago Teacher Article of the Pension Code. Provides that salary received on or after July 1, 2008 for overtime, summer school, and other optional service shall be included in the calculation of salary for pension purposes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Chicago Teacher Article of the Illinois Pension Code. Raises the maximum allowable service retirement pension from 75% to 80% of average salary. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that the Board of Education shall demand and direct and the city council of the city shall levy a tax of 0.1% annually upon all taxable property in the city. Provides that revenues derived from the tax shall be paid to the city treasurer of the city as collected and held by him or her for the benefit of the Public School Teachers' Pension and Retirement Fund of Chicago. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Chicago Laborer Article of the Illinois Pension Code. Provides that any current employee member of the board who is serving in a position exempt from the classified service or the personnel ordinance of a city that has adopted a career service ordinance remains eligible to serve on and be re-elected to the board if he or she is on leave of absence from a position that is not exempt from that classified service or personnel ordinance. Effective immediately.
Amends the Property Tax Code. Creates the Returning Veterans' Homestead Exemption, under which an exemption from the property's value is granted for residential property that is owned and occupied as a residence by a veteran for the tax year in which the veteran returns from active duty in an armed conflict involving the armed forces of the United States. In a Section concerning the Senior Citizens Homestead Exemption, provides that in all counties (now, in counties with less than 3,000,000 inhabitants), the county board may by resolution provide that if a person has been granted the homestead exemption, the person qualifying need not reapply for the exemption. In a Section concerning the alternative general homestead exemption, extends the alternative exemption by an additional 3 years. Provides that the maximum amount of the exemption is $60,000 if the general assessment year for the property is 2006 or later. Provides that the base year for counties other than Cook County is the 2005 or 2006 tax year. Provides that, to subject itself to the provisions of the alternative general homestead exemption, a county must adopt an ordinance to that effect within 6 months after the effective date of this amendatory Act. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Chicago Teachers Article of the Illinois Pension Code. Provides that the total amount of payments made by the Board of Trustees of the Public School Teachers' Pension and Retirement Fund of Chicago to defray health insurance costs in any year may not exceed 85% (was, 75%) of the total cost of health insurance coverage in that year for all the recipients who receive such payments in that year. Effective July 1, 2008.
Creates the Funding Accountability and Transparency Act. Requires the full disclosure of all entities and organizations receiving State funds. Requires the Governor's Office of Management and Budget (GOMB) to establish a searchable website. Creates a pilot program for sub-award data. Requires GOMB to file reports and the Governor to make recommendations to the General Assembly. Contains other provisions. Effective immediately.
Amends the Chicago Teacher Article of the Pension Code. Provides that salary received on or after July 1, 2008 for overtime, summer school, and other optional service shall be included in the calculation of salary for pension purposes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Illinois Income Tax Act. Increases the amount of the earned income tax credit from 5% of the federal credit to: (i) 7.5% of the federal tax credit for taxable years ending in calendar year 2007; and (ii) 10% of the federal tax credit for taxable years ending in calendar year 2008 or thereafter. Effective immediately.
