Corporations Legislation - Illinois

SCH CD-CONTRACTS Amends the School Code. With respect to school districts other than Chicago, requires that certain contracts involving an expenditure in excess of $25,000 or a lower amount as required by local policy (rather than $10,000) be awarded to the lowest responsible bidder. Makes changes concerning the exceptions to this requirement, including an exception for contracts for services of corporations possessing a high degree of professional skill where ability and fitness play an important part, contracts for food services, contracts for utilities and related services when the cost is less than that offered by a local distribution company, and contracts for repair, maintenance, remodeling, renovation, or construction involving an expenditure not to exceed $50,000 (rather than $20,000). Adds an exception for contracts for the provision of motor vehicle fuel. Effective immediately. House Amendment No. 1

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SOCIAL WORK PRAC-SUNSET-MISC Amends the Regulatory Sunset Act to change the repeal date of the Clinical Social Work and Social Work Practice Act from January 1, 2008 to January 1, 2018. Amends the Clinical Social Work and Social Work Practice Act. Replaces "Department of Professional Regulation" with "Department of Financial and Professional Regulation" and "Director of the Department of Professional Regulation" with "Secretary of Financial and Professional Regulation" throughout the Act. Adds a provision concerning an applicant's or licensee's change of address. Provides that a civil penalty of $10,000 (rather than $5,000) shall be imposed upon an individual for each offense of unlicensed practice. Makes changes to provisions concerning licensure, licensure by endorsement, grounds for disciplinary action, rehearing, and the appointment of a hearing officer. Makes other changes. Effective immediately. Senate Floor Amendment No. 2 Deletes everything after the [...]

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INSURANCE-CLINICAL BREAST EXAM Amends the Illinois Insurance Code, the Health Maintenance Organization Act, and the Voluntary Health Services Plans Act. Provides that every insurer shall provide, in each group or individual policy, contract, or certificate of accident or health insurance issued or renewed for persons who are residents of Illinois, coverage for a complete and thorough physical examination of the breast, including but not limited to a comprehensive clinical breast examination of 6-10 minutes in length (that is, an examination of 3-5 minutes in length for each breast), performed by a health care provider to check for lumps and other changes for the purpose of early detection and prevention of breast cancer as follows: (1) annually for women 18 years of age and older; and (2) at any time at the recommendation of the woman's health care provider. Provides that every insurer must establish a separate and distinct reimbursement code for comprehensive clinical breast [...]

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EDUCATION FINANCE Amends the State Finance Act. Creates the School District Property Tax Relief Fund. Requires appropriations from the Education Assistance Fund. Requires the Department of Revenue to certify property tax relief grants for school districts from the Fund. Sets forth procedures for these grants. Creates the Higher Education Operating Assistance Fund for the purpose of grants to colleges and universities. Requires annual appropriations to the Fund. Sets forth requirements for appropriating and using moneys from the Fund. Amends the Illinois Income Tax Act. Increases the rate of income tax for individuals, trusts, and estates from 3% to 5% and for corporations from 4.8% to 8%. Requires this additional revenue to be deposited into the Education Assistance Fund. Increases the amount of the earned income tax credit and the education expense credit. Limits the amount of the property tax credit to $30. Amends the Property Tax Code. Requires abatements of education extensions [...]

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JUV CT-EXPUNGEMENT Amends the Juvenile Court Act of 1987. Provides that the court, on its own motion or upon the petition of a law enforcement official, shall immediately and automatically enter an order expunging any and all law enforcement records relating to an incident occurring before an individual's 17th birthday, and all of the individual's juvenile court records, or both, pertaining to the incident, including immediate notification to any and all contracted private electronic database corporations, but only in the following circumstances: (1) the minor was arrested and no petition for delinquency was filed with the clerk of the circuit court; or (2) the minor was charged with an offense and was found not delinquent of that offense. Provides that if a minor is charged with an offense and is found not delinquent of that offense the judge shall include an order of expungement in the final dismissal order, including immediate notification to applicable law enforcement or [...]

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PROP TX-SCHOOL DIST Amends the State Finance Act. Creates the School District Property Tax Relief Fund. Requires annual appropriations from the education appropriation minimum to the Fund. Requires the Department of Revenue to annually certify the amounts of property tax relief grants that school districts will receive from the Fund. Sets forth procedures for appropriating these grants. Amends the Illinois Income Tax Act. Increases the tax rate for individuals, trusts, and estates from 3% to 5% and increased the tax rate for corporations from 4.8% to 8%. Includes retirement income within the definition of "base income" for certain individuals. Eliminates certain corporate exemptions. Creates the Family Tax Credit. Amends the use and occupation tax Acts. Eliminates exemptions concerning newsprint and ink and concerning manufacturing and assembling machinery. Includes certain arts, entertainment, and recreation services within the definition of "sale at retail". Amends the Property [...]

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PENSION CODE-FINANCE-TECH Amends the Illinois Pension Code. Makes a technical change in a Section concerning prohibited transactions. Senate Floor Amendment No. 2 Deletes reference to: 40 ILCS 5/1-110Adds reference to: 15 ILCS 520/22.5from Ch. 130, par. 41a15 ILCS 505/16.5

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SCH CD-UTILITY CONTRACT-BID Amends the School Code. With respect to the exceptions to the requirement that a school board award contracts involving an expenditure in excess of $10,000 to the lowest responsible bidder, removes the exceptions for contracts for the purchase of natural gas when the cost is less than that offered by a public utility and for utility services such as light and heat. Provides that a school board must award utility contracts, such as natural gas or electricity, involving an expenditure in excess of $10,000 to the lowest responsible bidder. Provides that if a school district joins a utility consortium, then that consortium must award utility contracts involving an expenditure in excess of $10,000 to the lowest responsible bidder. Effective immediately. Senate Floor Amendment No. 1 Deletes everything after the enacting clause. Amends the School Code. With respect to school districts other than Chicago, requires that certain contracts involving [...]

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CONAMEND-INCOME TAX RATES Proposes to amend the Revenue Article of the Illinois Constitution with respect to limitations on income taxation. Provides that the rates shall be non-graduated, by category. The categories are (i) individuals (under $250,000), (ii) individuals ($250,000 or more), and (iii) corporations. Combines an individual's income with that of his or her spouse. Provides that in any such tax imposed upon individuals ($250,000 or more), the rate shall be the higher of (i) 6% or (ii) twice the rate imposed upon individuals (under $250,000). Provides that the rate on corporations shall not exceed the rate imposed on individuals (under $250,000) by more than a ratio of 8 to 5. Provides that the basic amount of each standard exemption for individuals (under $250,000) shall be $4,500 or such greater amount as provided by law. Provides that the amounts of $250,000 and $4,500 shall be adjusted each year to reflect changes in a specified consumer price index. Provides for [...]

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EDUCATION FUNDING-TAX REFORM 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 [...]

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INS-CUST AGRMTS CLRG CORP Amends the Illinois Insurance Code. Creates an Article concerning custodial agreements and the use of clearing corporations. Provides definitions. Allows domestic insurance companies to deposit securities held or purchased for its general account in a clearing corporation. Allows certificates representing securities of the same class of the same issuer to be merged and held in bulk in the name of the nominee of the clearing corporation regardless of the ownership of the securities and for certificates representing smaller denominations to be merged into one or more certificates of larger denominations. Allows ownership and other interests in securities to be transferred by bookkeeping entry without physical delivery of certificates. Authorizes the Secretary of Financial and Professional Regulation to adopt rules governing the deposit of securities in clearing corporations. Allows securities of domestic, foreign, and alien insurance companies required [...]

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