Amends the State Finance Act. Provides that no appropriations from the Road Fund may be made to the Secretary of State, any State agency, or the Court of Claims in FY08 or thereafter. Provides that no further transfers may be made from the Road Fund or the State Construction Account Fund to the General Revenue Fund. Effective immediately.
Amends the Prompt Payment Act. Provides that any bill submitted under Article V of the Illinois Public Aid Code approved for payment must be paid or the payment issued to the payee within 30 days (now, 60 days) of receipt of a proper bill or invoice, and, if payment is not issued to the payee within this 30-day period, an interest penalty of 2.0% (now, 1.0%) of any amount approved and unpaid shall be added for each month or fraction thereof after the end of this 30-day period, until final payment is made.
Amends the Illinois Income Tax Act. Increases the amount of the earned income tax credit from 5% of the federal credit to: (i) 7.5% of the federal tax credit for taxable years ending in calendar year 2007; and (ii) 10% of the federal tax credit for taxable years ending in calendar year 2008 or thereafter. Effective immediately.
Amends the Charter Schools Law of the School Code. Under specified circumstances, allows for a maximum of 5 additional charter schools exclusively for truants or dropouts in Chicago if the limit on the number of charter schools that may operate at any one time in the rest of the State has not been reached. Provides that if any of the additional charter schools are not used exclusively for truants or dropouts, then the State Board of Education shall withhold and the charter school shall forfeit all State funding designated for that school.
Amends the Illinois Public Aid Code. In provisions concerning Medicaid rates for nursing homes, provides that for facilities licensed by the Department of Public Health under the Nursing Home Care Act as skilled nursing facilities or intermediate care facilities, the support component of the rates taking effect on July 1, 2008 shall be computed using the most recent cost reports on file with the Department of Healthcare and Family Services no later than April 1, 2006, updated for inflation to January 1, 2007. Provides that facilities shall have the support component of their Medicaid rate computed every year using the most recent cost reports on file with the Department of Healthcare and Family Services no later than April 1, 2 years prior to the year in which the new rate takes effect, updated for inflation to January 1 of the year prior to the year in which the new rate takes effect. Effective immediately.
Amends the Property Tax Code. Provides that the Senior Citizens Homestead Exemption and the Senior Citizens Assessment Freeze Homestead Exemption continue if the taxpayer becomes a resident of a facility licensed under the Assisted Living and Shared Housing Act.
Amends the Illinois Vehicle Code. Provides that, outside the counties of Cook, DuPage, Kane, Lake, McHenry, and Will, unless some other speed restriction has been established under the Code, the maximum speed limit outside an urban district for any vehicle is 65 miles per hour. Provides that language providing that the Department of Transportation may not alter the speed limits on an access-controlled highway to exceed 55 miles per hour for vehicles of the second division weighing 8,001 pounds or more applies only in the listed counties. Effective January 1, 2009.
Amends the Wildlife Code. Provides for the Department of Natural Resources to issue an additional antlerless only deer permit in counties the Department considers overpopulated to each licensed deer hunter in that county. Effective July 1, 2008.
Amends the Illinois Income Tax Act. Creates an income tax credit through taxable years ending before December 31, 2014 to taxpayers who, during the taxable year, pay wages to one or more net new employees. Sets the amount of the credit at 50% of the amount of Illinois income taxes withheld by the taxpayer with respect to a net new employee, except that, for taxable years ending before December 31, 2012, the credit is 75% of the amount of Illinois income taxes withheld if the taxpayer provides health and retirement benefits to that employee. Provides that the credit may not be carried forward or back and may not reduce the taxpayer's liability to less than zero. Defines "net new employees" as the number of Illinois-based employees on the taxpayer's withholding rolls on the last day of the current taxable year less the number of Illinois-based employees on the taxpayer's withholding rolls on December 31, 2007. Effective immediately.
Amends the Economic Development for a Growing Economy Tax Credit Act. Provides that in lieu of an income tax credit, an applicant may opt to receive job creation assistance payments under the Act. Defines "applicant" as any employer located or that plans to locate in Illinois. Provides that job creation assistance payments shall be related to the number of new full-time equivalent jobs created or retained in Illinois, any job-related benefits offered, and the economic impact of the full-time equivalent jobs created or retained. Provides that, for each new full-time equivalent job created or retained, the applicant is eligible to receive job creation assistance payments in amounts to be determined by the Department of Commerce and Economic Opportunity. Provides that agreements for the payments may last up to 10 years and that payments may be made on a quarterly basis. Requires application for the payments on or before December 31, 2009. Requires the Department to report each January 1 to the Governor and the General Assembly on the progress of the incentive payment program. Effective immediately.
