Establishes a joint legislative and gubernatorial commission to launch a review of the future financing of the State's Medicaid program.
Urges United States Congress and the President of the United States to maintain the current capital gains tax treatment or classification for tax purposes of promoted or carried interest used by real estate partnerships.
Amends the Property Tax Code. Makes a technical change in a Section concerning the Special Service Area Tax Law.
Amends the Property Tax Code. Provides that, if a county with less than 3,000,000 inhabitants sends a mailed assessment valuation notice to all taxpayers every year, then (i) in general assessment years the county is required to include property on the published assessment list only if value of the property has changed for a reason other than township equalization, (ii) the entire assessment roll must be published by township on the county's website, and (iii) the county must place a quarter page advertisement in the newspaper being used for publishing assessments in the township noting the location of the full assessment roll on the county's website. Effective immediately.
Amends the Illinois Income Tax Act. Provides that each taxpayer who serves on a jury during the taxable year is entitled to a credit in an amount equal to $50 per day for each day of actual jury service for which the taxpayer does not receive compensation from an employer. Provides that the credit may be carried forward. Exempts the credit from the Act's sunset provisions. Effective immediately.
Amends the Illinois Pension Code. Provides that, if a downstate police or fire pension fund has net assets of $10,000,000 or more and if it uses the services of an investment management consultant or an investment manager, then the pension fund's total investment in the specified types of investments shall not exceed 50% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation. Provides that, if a downstate police or fire pension fund has net assets of less than $10,000,000 or if does not use the services of an investment management consultant or an investment manager, then the pension fund's total investment in those types of investment shall not exceed 35% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation.
Amends the Use Tax Act. Makes a technical change in a Section concerning the short title.
Amends the Illinois Pension Code. Provides that the board of trustees of downstate police and downstate firefighter pension funds may, by a resolution adopted by a majority vote of its membership, transfer moneys of the pension fund to the Illinois Municipal Retirement Fund for management and administration. Provides guidelines for the Illinois Municipal Retirement Fund to follow in investment of the money of downstate police and downstate firefighter pension funds, including the transfer of the funds assets and quarterly and annual reports to the pension funds. Effective January 1, 2010.
Amends the Illinois Vehicle Code. Provides that a person may not operate a motor vehicle on a roadway while using an electronic communication device (rather than only prohibiting the composing, sending, or reading of electronic messages while operating a vehicle) unless the electronic communication device is used in hands-free or voice-activated mode or one of 5 other limited exceptions apply. Effective January 1, 2011.
Amends the Property Tax Code. Provides that a Section authorizing property tax assessment settlement agreements also applies to petrochemical processing facilities located within a county of less than 1,000,000 inhabitants. Effective immediately.
