Rep. La Shawn Ford

Amends the Conveyances Act. Makes a technical change to a Section concerning deeds, mortgages, and other instruments.

Creates the Judicial Campaign Reform Act and amends the Election Code, the State Finance Act, the Illinois Income Tax Act, and the Clerks of Courts Act. Creates a voluntary program of public financing of election campaigns for the offices of judges of the Illinois Supreme Court and Appellate Courts, administered by the State Board of Elections. Establishes funding mechanisms and provides penalties for violations. Sets mandatory contribution limits with respect to all judicial election campaigns. Makes other changes. Effective January 1, 2009.

Amends the State Finance Act, the Use Tax Act, the Service Use Tax Act, the Retailers' Occupation Tax Act, and the Metropolitan Pier and Exposition Authority Act. Extends the duration and increases the amounts of deposits of certain use and occupation tax proceeds into the McCormick Place Expansion Project Fund. Increases certain bond authorization limits of the Metropolitan Pier and Exposition Authority from $2,107,000,000 to $2,457,000,000 and makes changes to the required maturity dates of the bonds. Makes other changes. Effective immediately.

Amends the Illinois Public Aid Code. In connection with the medical assistance program, provides that on and after July 1, 2008, the minimum inpatient per diem rate to be paid to a hospital for psychiatric services shall be no less than the highest per diem base rate established by the Department of Healthcare and Family Services for any hospital that newly qualifies to deliver psychiatric inpatient services on or after December 31, 2006. Effective immediately.

Urges Congress to enact a 2-year moratorium on interest rate reset increases under sub-prime adjustable rate mortgage home loans.

Amends the Environmental Protection Act. Makes a technical change in a Section concerning the short title.

Amends the Higher Education Student Assistance Act. With respect to the Monetary Award Program, provides that the maximum grant amount must not exceed $5,468 for fiscal year 2009, $5,968 for fiscal year 2010, and $6,468 for fiscal year 2011 and each fiscal year thereafter (instead of $4,968). Provides that the maximum grant amount for students not subject to this provision must be increased by the same percentage as any increase made by law to such provision. Removes the provision that limits the grant amount to an amount that equals 2 semesters or 3 quarters tuition and fees. Effective July 1, 2008.

Amends the School Code. Adds homeownership, including the basic process of obtaining a mortgage and the concepts of fixed and adjustable rate mortgages, subprime loans, and predatory lending, as part of the financial literacy component of consumer education.

Amends the Real Estate License Act of 2000. Provides for the transfer by a licensee under the Act to the Office of the State Treasurer of escrow moneys, prior to the consummation or termination of a transaction, at the end of a 6-month time period when, in the absence of the filing of any claim in a court of competent jurisdiction, the principals to the transaction have remained in a continuous and uninterrupted dispute during that 6-month period.

Amends the Code of Civil Procedure. Makes a technical change in a Section regarding the short title of the Article concerning mortgage foreclosures.