Sen. James T. Meeks

Amends the State Budget Law of the Civil Administrative Code of Illinois. Requires that the Governor's submitted budget include information concerning the amount and description of overdue bills and invoices under the State Prompt Payment Act. Amends the Prompt Payment Act. Accelerates the payment period from 60 days after the bill is submitted to 30 days after the bill is submitted. Increases the interest penalty from 1% to 1.5% if the payment is not made within 60 days after the bill is submitted. Effective immediately.

Amends the Illinois Public Aid Code. Provides that beginning July 1, 2007, the Department of Human Services shall increase TANF grant amounts in effect on June 3, 2007 by 15%. Effective immediately.

Amends the Community Senior Services and Resources Act. Makes a technical change in a Section concerning definitions.

Amends the Find Our Children Act. Makes a technical change in a Section concerning the short title.

Amends the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act. In connection with the pharmaceutical assistance program, provides eligibility for persons who have a maximum household income at or below 225% of the Federal Poverty Level if they qualify under certain conditions. Eliminates an Eligibility Group consisting of persons who are disabled and under age 65, or age 65 or older with incomes related to 200% of the Federal Poverty Level, and who are eligible for Medicare Part D coverage. Provides that for persons who have a diagnosis of HIV or AIDS, "covered prescription drug" means those drugs covered by the Medicare Part D Prescription Drug Plan in which the beneficiary is enrolled (eliminates a reference to drugs included in the formulary of the Illinois AIDS Drug Assistance Program operated by the Illinois Department of Public Health). Provides that in defining countable income for purposes of the pharmaceutical assistance program, the Department of Healthcare and Family Services or the Department on Aging must disregard the cost-of-living increase to any benefit administered by the Social Security Administration in any year that the percentage increase of the Social Security Administration cost-of-living adjustment is higher than the percentage increase in the Federal Poverty Level. Adds provisions concerning the effective date of eligibility for the pharmaceutical assistance program. Effective immediately.

Amends the State Finance Act, the Illinois Income Tax Act, and the Property Tax Code. Increases the income tax rates for individuals, trusts, and estates from 3% to 5% of the taxpayer's net income and increases the rate of income tax for corporations from 4.8% to 8% of the taxpayer's net income. Creates an income tax credit for families with incomes below certain levels. Creates the School District Property Tax Relief Fund, and requires the General Assembly appropriate certain amounts into the Fund. Provides that grants must be made from the Fund to school districts. Requires that property taxes be abated in school districts by the amount of the grants from the Fund. Creates the Higher Education Operating Assistance Fund, and requires the General Assembly to appropriate certain amounts into the Fund. Requires certain distributions from that Fund. Creates the Invest in Illinois Fund for the purpose of funding the cost of issuance, interest, fees, principal payments, and other debt service on Invest in Illinois Bonds and requires appropriations into the Fund. Creates the Capital Strategy Board to make recommendations concerning the issuance of bonds. Contains several continuing appropriation requirements. Amends the School Code. Creates the Early Childhood Fund to support the Illinois Early Learning Standards and their use in early childhood programs and other programs. Makes changes concerning special education reimbursement for personnel. With respect to the State aid formula, makes changes concerning the foundation level of support, creation of the School Improvement Partnership Pool Fund, and supplemental general State aid. Provides that the General Assembly shall appropriate from the General Revenue Fund to the Common School Fund an Education Appropriation Minimum. Effective July 1, 2008.

Amends the Illinois Prescription Drug Discount Program Act. Makes a technical change in a Section concerning definitions.

Amends the General Obligation Bond Act. Makes a technical change in a Section concerning the short title.

Amends the Early Intervention Services System Act. Makes a technical change in a Section concerning the Early Intervention Services Revolving Fund.

Urges the members of United States Congress to give full consideration to the passage of the federal Credit Cardholders' Bill of Rights Act.