Amends the Official United States Flag Act. Makes a technical change in a Section concerning the short title.
Amends the Limited Liability Company Act. Reduces the expedited service fee for a limited liability company's articles of organization from $100 to $0. Effective immediately.
Amends the Chicago Teachers Article of the Illinois Pension Code. Changes the method for calculating validated service. Limits the amount of pension credit that may be granted each year. Authorizes deductions for omissions made in prior pay periods. Requires deductions to be made whenever salary represents pay for a day or part of a day (rather than pay for 5 days). Makes other changes concerning the administration of payroll deductions. Requires employers to cause the Fund to receive all payroll records and pension contributions (rather than just pension contributions) within 30 calendar (rather than 15 business) days after each predesignated payday. Makes other changes concerning the payment and certification of salary deductions. Amends the State Mandates Act to require implementation without reimbursement. Effective July 1, 2011.
Amends the State aid formula provisions of the School Code. Removes provisions concerning supplementary grants in aid. Effective July 1, 2011.
Amends the Technology Development Act. Authorizes the State Treasurer to segregate up to 3% of the Treasurer's investment portfolio in the Technology Development Account IIa. Authorizes investments from the account to provide venture capital to help attract, assist, and retain quality technology businesses in Illinois. Provides that the Treasurer may solicit proposals from entities to manage and be the General Partner of Technology Development Account IIb, a separate fund consisting of investments from private sector investors that must invest, at the direction of the Treasurer, in tandem with TDA IIa. Sets restrictions and conditions. Effective immediately.
Amends the School Code. Makes a technical change in a Section concerning the School Code's construction.
Congratulates Amy Farmer Derick on the occasion of being named William Fremd High School's distinguished graduate for 2011.
Congratulates Kenneth Nelson on the occasion of his retirement as the 1st Ward Alderman and Mayor of the City of Rolling Meadows.
Congratulates Jack Wagner on the occasion of his departure from public service after being the longest serving Councilman in the Village of Palatine.
Amends the Illinois Income Tax Act. In a Section concerning base income, provides that deductions from the adjusted gross income shall include, for those individuals who report an adjusted income of less than $100,000, an amount equal to all amounts included in such total pursuant to the provisions of Sections 402(a), 402(c), 403(a), 403(b), 406(a), 407(a), and 408 of the Internal Revenue Code, or included in such total as distributions under the provisions of any retirement or disability plan for employees of any governmental agency or unit. Provides that for individuals who report an adjusted gross income of $100,000 or more, a percentage of the income otherwise excluded shall be subject to income taxation. Effective immediately.
