Sen. Michael W. Frerichs

Amends the State Universities Article of the Illinois Pension Code. Provides that, on January 1, 2012, the monthly pension of an annuitant who retired before January 1, 1980 shall be recalculated and increased to reflect the amount the annuitant would have received in January 2012 had the annuitant been receiving a 3% increase for each year he or she received a monthly annuity under Rule 1, Rule 2, Rule 3, Rule 4, or Rule 5. Provides for an additional increase of 3% of the amount of the retirement annuity then being received each January thereafter. Effective immediately.

Amends the Election Code. Makes a technical change in a Section concerning the short title.

Amends the Illinois Vehicle Code. Provides that the Secretary of State must make a version of the special U.S. Veteran registration plate in a form appropriate for motorcycles.

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 Illinois Public Labor Relations Act. Makes a technical change in a Section concerning the short title.

Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority has the power to purchase special service area bonds and to accept assignments or pledges, or both, of special service area bonds or agreements relating to public and private green special service area projects. Amends the Special Service Area Tax Law in the Property Tax Code. Provides that the corporate authorities of a county or a municipality may establish a green special service area. Provides that those green special service areas shall include only property for which each owner of record has executed a contract or agreement with the county or municipality consenting to the inclusion of the property within the green special service area. Provides that each owner of record of property within a green special service area may arrange for specific energy efficiency improvements, renewable energy improvements, or water use improvements and may obtain financing for those improvements through the process set forth in the ordinance establishing the green special service area. Provides that counties and municipalities shall levy property taxes on property within green special service areas. Provides that counties and municipalities may issue bonds in connection with green special service areas and may sell, assign, or pledge those bonds to the Illinois Finance Authority. Amends the Counties Code and the Illinois Municipal Code to provide that each county or municipality shall have the power and authority to engage in specified activities that relate to green special service areas. Effective immediately.

Amends the Criminal Code of 1961. Makes a technical change in a Section defining the offense of vehicular hijacking.

Amends the School Code. Makes a technical change in a Section concerning the School Code's construction.

Amends the Food and Agriculture Research Act. Provides that appropriations for the purposes of the Act shall be made to the Illinois Department of Agriculture for research to Illinois public and non-public institutions of higher education. Provides that the Illinois Council on Food and Agricultural Research shall prepare and deliver to the General Assembly, Governor, Director of Agriculture, and the food and agricultural research administrators at each of the public and non-public institutions of higher learning that receive research dollars under the Act an annual report providing a summary and detailed account of the research programs being supported. Provides any additional grants or donations for research shall be deposited into the Food and Agricultural Research Fund and may be appropriated and used for the purposes of the Act. Amends the State Finance Act to create the Food and Agricultural Research Fund as a special fund in the State treasury. Effective immediately.

Amends the Election Code. Makes a technical change in a Section concerning the short title.