Amends the Illinois Fairness in Lending Act. Provides that "equity stripping" and "loan flipping" shall only include loans that qualify as high risk home loans. Amends the High Risk Home Loan Act. Provides that "points and fees" does not include: (i) fees paid to the Veterans Administration required by law; (ii) fees paid to the Federal Housing Administration required by law; (iii) fees paid for private mortgage insurance; or (iv) all fees paid to a mortgage broker by a lender if the loan is less than $50,000, or 50% of fees paid to a mortgage broker by a lender if the loan is between $50,000 and $100,000.
Sponsored bills
Amends "An Act making appropriations", Public Act 95-348. Increases certain appropriations to the State's Attorneys Appellate Prosecutor for its ordinary and contingent expenses. Effective immediately.
Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Provides that, in lieu of the retirement annuity otherwise provided under the Article, any municipal electrical worker who (i) has 25 or more years of service in that capacity; (ii) is at least 50 years of age; and (iii) terminates service on or after the effective date of the amendatory Act shall be entitled at his or her option to receive a monthly retirement annuity for service as a municipal electrical worker computed by multiplying 3% for each year of such service by his or her annual final rate of earnings and dividing by 12. Requires a municipal electrical worker who makes the election to make an additional contribution of 3.5% of earnings. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Amends the Juvenile Court Act of 1987. Makes a technical change in a Section concerning delinquent minors.
Amends the School Code. Provides that each school district shall require that all students in grade 7 and all high school students enrolled in a course concerning history of the United States or a combination of history of the United States and American government view the Congressional Medal of Honor film made by the Congressional Medal of Honor Society. Provides that this requirement does not apply if the Congressional Medal of Honor Society charges the school district a fee for the film. Effective July 1, 2008.
Amends the Juvenile Court Act of 1987. Makes a technical change in a Section concerning delinquent minors.
Amends the Public Community College Act. Makes changes in a Section allowing a community college district to levy a tax or issue bonds for alteration or repair of physical facilities for certain health, safety, energy conservation, environmental protection, and handicapped accessibility purposes. Provides that the district may levy the tax if, among other conditions, a certified estimate of a licensed architect or engineer stating the estimated amount (instead of stating the estimated amount of not less than $25,000) that is necessary to make alterations or repairs has been secured by the district. Provides that the district may borrow money in not to exceed the aggregate amount of $4,500,000 during any one calendar year (instead of allowing the district to borrow money not in excess of $4,500,000 in the aggregate at any one time). Provides that the district may borrow money if, among other conditions, a certified estimate of a licensed architect or engineer stating the estimated amount (instead of stating the estimated amount of not less than $25,000) has been secured by the district.
Amends the Metro-East Park and Recreation District Act. Makes a technical change in a Section concerning definitions.
Amends the Unified Code of Corrections. Makes a technical change in a Section concerning parole services.
Amends the Township Code. Provides that payment for delinquent charges for sewerage service to any premises may be enforced by discontinuing water service, sewerage service, or both to the premises. Provides that a water service provider shall discontinue water service to a premises upon receiving written notice from the township board or the township utility board that payments for sewerage service have become delinquent and shall not resume water service until the delinquency has been removed. Provides that the township board or township utility board may contract with privately owned public utilities for discontinuance of water service to delinquent premises. Provides that the township shall reimburse the water service provider for the costs of discontinuing and reestablishing water service. Effective immediately.