HB 5450

Abstract

Amends the State Universities Retirement System Article of the Illinois Pension Code. With respect to a Section concerning reports on cost reduction, removes provisions requiring that on or before November 15th of each year, the Board of Higher Education, in conjunction with the Governor's Office of Management and Budget, prepare a report showing, on a fiscal year by fiscal year basis, the amount by which the costs associated with compensable sick leave have been reduced as a result of the termination of compensable sick leave accrual on and after January 1, 1998 by employees of higher education institutions who are participants in the System. Amends the Higher Education Veterans Service Act. In provisions concerning reporting, provides that each October 15, each public college and university shall report to the Board of Higher Education, in collaboration with the Illinois Community College Board, on the expenditures for the prior fiscal year for the programs and services related to the efforts of the public college or university in attracting, recruiting, and retaining veterans and military personnel (instead of providing that each September 1, each college and university that is required to have a Coordinator of Veterans and Military Personnel Student Services shall report to the Board of Higher Education on the fiscal impact of the programs and services related to the requirements of the Act and on the efforts of the public college or university in attracting, recruiting, and retaining veterans and military personnel). Requires the Board's report to be filed with the Executive Director of the Illinois Community College Board. Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the contents of the introduced bill with the following changes. With respect to the Section concerning reports on cost reduction in the Illinois Pension Code, provides that, on and after December 31, 2026, the provisions concerning the report on the amount by which costs associated with compensable sick leave have been reduced as a result of the termination of compensable sick leave accrual on and after January 1, 1998 by employees of higher education institutions who are participants in the State Universities Retirement System are inoperative (instead of removing the provisions concerning the report). With respect to the Section concerning expenditure reporting in the Higher Education Veterans Service Act, corrects a reference to the Executive Director of the Illinois Community College Board.