Rep. Carolyn H. Krause

Congratulates Michaele Skowron on her retirement as a Trustee for the Village of Mount Prospect.

Creates the Long-Term Care Partnership Program Act. Establishes the Illinois Long-Term Care Partnership Program, to be administered by the Department of Healthcare and Family Services with the assistance of the Division of Insurance, to do the following: (1) provide incentives for individuals to insure against the costs of providing for their long-term care needs; (2) provide a mechanism for individuals to qualify for coverage of the cost of their long-term care needs under Medicaid without first being required to substantially exhaust their resources; (3) provide counseling services to individuals planning for their long-term care needs; and (4) alleviate the financial burden on the State's medical assistance program by encouraging the pursuit of private initiatives. Sets out the specific duties of the Department and the Division concerning the administration of the Program. Sets out the specific responsibilities for issuers of qualified long-term care insurance partnership policies. Provides that the Department and the Division may adopt rules for the implementation and administration of the Act. Repeals the Partnership for Long-Term Care Act. Effective immediately.

Creates the Campaign Finance Reform Task Force to study and recommend changes in the statutory system of financing campaigns for Illinois elective offices.

Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that no tax is imposed under the Acts upon the use or purchase of energy-efficient products that qualify as an "Energy Star" products under the federal Energy Star Program and that are purchased at a price of $1,500 or less during a tax holiday. Defines "tax-holiday" as the periods each year: (1) beginning at 12:01 a.m. on November 1st and continuing through 11:59 p.m. on November 7th; and (2) beginning at 12:01 a.m. on April 22nd and continuing through 11:59 p.m. on April 28th. Sets forth criteria for transactions to qualify for the exemption. Effective immediately.

Creates the Task Force on Long-Term Care Partnerships to study the enactment of a Long-Term Care Partnership program in Illinois.

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 Illinois Income Tax Act. Provides for a credit for taxpayers who, during the taxable year, install, on a building or property that is owned by the taxpayer and that is located in the State, a geothermal, solar, wind, or fuel cell energy device and sets the amount of the credit at the lesser of (i) $1,500 or (ii) 20% of the actual cost of the acquisition and installation of the device. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.

Amends the Illinois Income Tax Act. Allows an income tax credit in an amount equal to 15% of the premium costs paid for a qualified long term care insurance contract covering the individual taxpayer or the taxpayer's spouse, parent, or dependent. Provides that the credit may not exceed $200 or the taxpayer's liability, whichever is less. Prohibits the carry forward of an excess tax credit to a succeeding year's tax liability. Exempts the credit from the sunset provisions. Effective immediately.

Amends the Mental Health and Developmental Disabilities Administrative Act and the Illinois Public Aid Code. Provides that $20,000,000 of the federal matching funds paid to the State and attributable to hospital provider assessments collected by the Department of Healthcare and Family Services under the Illinois Public Aid Code during State fiscal year 2007 shall be deposited into the Community Mental Health Medicaid Trust Fund and shall be distributed by the Department of Human Services to community mental health services providers to provide a supplement to those providers in addition to any amounts to be paid to those providers under their FY07 contracts with the Department. Effective immediately.

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Requires the Department of Commerce and Economic Opportunity to establish and maintain a program to certify energy-efficient heating and cooling systems and to certify contractors to provide services with respect to those systems. Requires the Department to certify tax-credit amounts with respect to energy-efficient heating and cooling systems. Requires the Department to post this information in its Internet website. Amends the Illinois Income Tax Act. Provides tax credits for each individual taxpayer who: (i) purchases and installs a certified energy-efficient heating or cooling systems in his or her residence; (ii) hire a certified contractor to install sealed ductwork or seal existing ductwork in the taxpayer's residential dwelling; or (iii) hires a certified contractor to test a heat pump system or central air conditioning system and service the system for optimal performance in the taxpayer's residential dwelling. Sets forth the amounts of the credits. Provides that the credits may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Effective immediately.