SB 568

Abstract

Amends the Illinois Vehicle Code. Provides that the Secretary of State may issue a series of special plates that the General Assembly has authorized for issuance on or after the effective date of the amendatory Act of the 93rd General Assembly only if the Secretary has received either cash in an amount sufficient to cover the cost of issuing 1,500 sets of the special plates or a performance bond guaranteeing the required amount. Provides that the amount deposited with the Secretary, or any proceeds from redemption of the bond, shall be deposited into the Secretary of State Special License Plate Fund. Provides that within 3 years after the date on which issuance of the plates is authorized, the Secretary of State must receive applications for at least 1,500 sets of the special plates, except those for which applicants must meet specified eligibility requirements. If the required number of applications is received, the Secretary shall return the amount of any cash deposit. If the required number of applications is not received, the Secretary shall recall the special plates. Applies the same requirement regarding the minimum number of applications to special plates authorized to be issued before the effective date of the amendatory Act, except those for which applicants must meet specified eligibility requirements. Effective immediately.