Amends the High Risk Home Loan Act. Provides that "high risk home loan" does not include a loan for reverse mortgage financing of residential real estate, including under programs regulated by the Federal Housing Administration (FHA).
Amends the High Risk Home Loan Act. Provides that the term "points and fees" does not include fees paid to the United States Department of Veterans Affairs required by law, fees paid to the Federal Housing Administration required by law, or fees paid to the United States Department of Agriculture's Rural Development Loan Program required by law.
Creates the Emerging Technology Industries Act. Requires the Department of Commerce and Economic Opportunity to establish and maintain a program to award grants to emerging-technology enterprises in the State. Sets forth eligibility requirements and funding priorities for awarding the grants, and sets forth procedures for awarding the grants. Requires written contracts in which the emerging-technology enterprise guarantees that it will perform the actions expected to be performed. Sets dollar limits on matching funds for federal Small Business Innovative Research (SBIR) grants and total grant matching funds per year. Limits total credits to $15,000,000 in any one State fiscal year. Amends the State Finance Act to create the Emerging Technology Grant Fund. Amends the Illinois Income Tax Act. Creates an income tax credit for qualified investors who make an investment in an emerging technology enterprise in the State. Provides that the Department of Commerce and Economic Opportunity must certify the amount of the credit and sets forth the procedures for the application and certification of the credit. Sets forth provisions for the revocation and recapture of the tax credit. Contains other provisions. Effective immediately.
Amends the Unified Code of Corrections. Defines "meritorious service" in regards to the Director of Corrections' authority to award additional good conduct credit for meritorious service in specific instances. Effective immediately.
Amends the Emergency Telephone System Act. Provides that moneys from the Emergency Telephone System Fund may be expended for the costs of public safety agency personnel who are and equipment that is dispatched in response to an emergency call. Amends the Illinois Municipal Code. In provisions pertaining to the expenditure of the amounts collected by municipalities from municipal hotel use taxes or hotel operator's taxes, provides that the corporate authorities of a municipality may, by ordinance, provide for the amounts collected to be deposited into the general fund of the municipality for any municipal purpose (now, the amounts collected must be spent to promote tourism). Effective immediately.
Amends the Compensation Review Act. Requires that the Compensation Review Board file separate reports with respect to (i) State executive branch constitutional officers and General Assembly members and (ii) all other offices and positions subject to the Act. Provides that a report is effective if approved in whole or reduced by a resolution adopted by the General Assembly (now, effective unless disapproved in whole or reduced by a resolution adopted by the General Assembly). Requires a separate resolution and vote for each report. Removes an obsolete reference to the period for disapproval of the Board's initial report.
Amends the Public Utilities Act. Provides that a current and future commissioner must divest himself or herself of any funds supporting his or her candidacy for any federal, State, or local public office by (i) a direct return of funds to contributors in amounts not to exceed his or her individual contributions, (ii) a transfer of funds to a charitable organization or organizations, or (iii) a combination of those actions. Provides that failure to comply with these provisions shall render the office vacant. Effective immediately.
Amends the Illinois Procurement Code. Makes a technical change in a Section concerning State policy.
Amends the Unemployment Insurance Act. Provides that an individual is ineligible for benefits on the basis of wages for service for a municipality as a school crossing guard between 2 successive academic years or terms or during a vacation period or holiday recess if the individual performed the service in the first of the academic years or terms or before the vacation period or holiday recess and there is a reasonable assurance that the individual will perform the service in the second of the academic years or terms or after the vacation period or holiday recess, subject to specified exceptions. Effective immediately.
Amends the State Finance Act. Provides that each appropriation for a legislative member initiative must be by a separate line item appropriation that fully describes the legislative member initiative. Provides that no legislative member initiative may be funded through a lump sum appropriation. Provides that an appropriation for a legislative member initiative or a capital improvement is released and available for expenditure as a matter of law; and authorizes enforcement by mandamus maintained by any member of the General Assembly. Defines "legislative member initiative" and "capital improvement".
