Amends the Illinois Income Tax Act. Reduces the rate of tax on corporations to 1% beginning on January 1, 2016 (currently, the rate is 5.25% until January 1, 2025 and 4.8% thereafter). Makes corresponding changes in provisions concerning transfers to the Local Government Distributive Fund. Effective immediately.
Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning the tax imposed.
Amends the Unified Code of Corrections. Makes a technical change in a Section concerning the organization of the Department of Corrections and the Department of Juvenile Justice.
Proposes to amend the Suffrage and Elections Article of the Illinois Constitution. Replaces procedures concerning the recall of the Governor with procedures concerning the recall of an executive branch officer as identified in Section 1 of Article V of the Illinois Constitution, a member of the General Assembly, or an individual holding a local elected office, including, but not limited to, mayors, village presidents, council members, school board members, community college officials, and county officials. Sets forth requirements for recall petitions and elections. Provides for a successor election to fill the vacant term of a recalled officer, member, or individual. Sets forth duties of the State Board of Elections. Provides that the new provisions are self-executing and judicially enforceable. Contains a schedule for adoption and other provisions.
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters). Effective immediately.
Amends the Criminal Code of 2012. Makes a technical change in a Section concerning the short title.
Amends the State Housing Act. Makes a technical change in a Section concerning the short title.
Amends the Illinois Credit Union Act. Provides that a credit union's board of directors may authorize a savings promotion raffle. Defines a "savings promotion raffle" to mean a raffle conducted by a credit union where the sole consideration required for a chance of winning designated prizes is the deposit of at least a specified amount of money in a savings account or other savings program offered by the credit union. Makes conforming changes in the Raffles and Poker Runs Act and the Criminal Code of 2012.
Proposes to amend the Executive Article of the Illinois Constitution. Eliminates the office of Lieutenant Governor, beginning with the term of office otherwise commencing in 2019. Effective upon being declared adopted.
Amends the College Campus Press Act. Makes a technical change in a Section concerning the short title.
