Amends the State Employee, State Universities, and Downstate Teachers Articles of the Illinois Pension Code. Requires those Systems to offer certain inactive members the opportunity to elect to receive an accelerated pension benefit payment equal to 70% of the net present value of their pension benefits in lieu of receiving any pension benefit. Provides that if a person elects to receive an accelerated pension benefit payment, his or her credits and creditable service under that Article shall be terminated upon receipt of the accelerated pension benefit payment; except that the terminated service credit shall be used for the purposes of determining participation and benefits under the State Employees Group Insurance Act of 1971. Provides that a person who receives an accelerated pension benefit payment must direct the System to pay all of that payment as a rollover into another qualified retirement plan or account. Contains provisions concerning return to active service; rulemaking; and qualified plan status. Amends the State Employees Group Insurance Act of 1971 to make related changes. Requires the Authority to issue bonds if the amount of the accelerated pension benefit payments exceed the amount appropriated to each System for those payments. Amends the General Obligation Bond Act. Authorizes $250,000,000 in State Pension Obligation Acceleration Bonds to be sold to pay for accelerated pension benefit payments to eligible persons. Amends the State Pension Funds Continuing Appropriation Act to create a continuing appropriation for payments on those Bonds. Amends the State Finance Act to create the State Pension Obligation Acceleration Bond Fund. Effective immediately.
Sponsored bills
Amends the Illinois Income Tax Act. Creates the Hire Illinois Tax Credit. Provides that a business is eligible for a $500 tax credit against its withholding tax liability for each recent graduate of a public university in the State who is hired by the taxpayer within the incentive period and retained by the taxpayer for 12 consecutive months. Provides that the $500 tax credit may be taken in both the year the qualified employee is hired and for each year of the next 4 years the qualified employee is retained by the taxpayer for 12 consecutive months. Provides 2 ways the taxpayer may take the $500 tax credit. Provides that the Department of Commerce and Economic Opportunity shall limit the monetary amount of these tax credits to $25,000,000. Provides for procedures for a business to apply for a certificate of eligibility for the credit and for procedures to apply for a tax credit certificate. Grants the Department of Commerce and Economic Opportunity the powers necessary or convenient to administer the tax credit. Effective immediately.
Amends the Department of Veterans Affairs Act. Makes a technical change in a Section concerning rules.
Amends the Department of Veterans Affairs Act. Makes a technical change in a Section concerning rules.
Proposes to amend the Executive Article of the Illinois Constitution. Eliminates the Offices of the Comptroller and Treasurer. Provides instead for a single Comptroller of the Treasury. Provides that the Comptroller of the Treasury shall (i) maintain the State's central fiscal accounts and order payments into and out of the funds held by him or her, (ii) be responsible for the safekeeping and investment of monies and securities deposited with him or her, and for their disbursement upon his or her order, and (iii) have the duties and powers that may be prescribed by law. Provides that no Comptroller or Treasurer shall be elected in 2022 and thereafter. Effective otherwise upon conclusion of the terms of the Comptroller and the Treasurer elected in 2018.
Makes appropriations to various agencies for prior year costs for personal services and State contributions to Social Security. Effective immediately .
Amends the Illinois Vehicle Code. Repeals a provision providing for the collection of an annual commercial distribution fee on vehicles of the second division weighing more than 8,000 pounds. Makes conforming changes. Effective July 1, 2018.
Amends the Medical Assistance Article of the Illinois Public Aid Code. In addition to other specified actions required under the Code, requires a managed care community network that contracts with the Department of Healthcare and Family Services to establish, maintain, and provide a fair and reasonable reimbursement rate to pharmacy providers for pharmaceutical services, prescription drugs and drug products, and pharmacy or pharmacist-provided services. Provides that the reimbursement methodology shall not be less than the current reimbursement rate utilized by the Department for prescription and pharmacy or pharmacist-provided services and shall not be below the actual acquisition cost of the pharmacy provider. Requires a managed care community network to ensure that the pharmacy formulary used by the managed care community network and its contract providers is no more restrictive than the Department's pharmaceutical program. Effective January 1, 2018.
Amends the General Assembly Compensation Act. Establishes the fiscal year 2019 mileage reimbursement rate and allowance for lodging and meals. Amends the Compensation Review Act. Prohibits cost-of-living adjustments for or during the fiscal year beginning July 1, 2018 for State government legislative and executive elected officers and appointees in positions for which the Compensation Review Board previously recommended or determined compensation. Effective immediately.
Amends the Downstate Teacher Article of the Illinois Pension Code. Beginning July 1, 2017, increases the amount of employment as a teacher that a retired teacher may perform without impairing retirement status; allows 130 paid days or 700 paid hours in a school year. Effective immediately.