Illinois General Assembly - Bill Status for HB1496

Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Provides that the Department shall create a web-accessible database containing profiles for municipalities and counties in the State that contain information relevant to businesses considering locating in Illinois. Provides that municipalities and counties shall be encouraged to submit data to the Department for entry into the database.

Provides that the Department may (instead of shall) create a web-accessible database. Provides that the creation of the database is subject to appropriation.

Deletes everything after the enacting clause. Amends the Illinois Lottery Law, the State Finance Act, the Illinois Procurement Code, the Court of Claims Act, and the State Lawsuit Immunity Act. Provides that the State may enter into a Management and Concession Agreement with a third party in which the third party is authorized to manage or operate the Lottery. Provides that the agreement shall be subject to a competitive process that complies with the Procurement Code. Sets forth certain terms for the agreement, including the minimum consideration to be paid to the State. Provides that proceeds from the concession transaction shall be deposited into certain special funds. Provides for the appointment of a 7-member Lottery Control Board. Requires the advice and consent of the Senate. Sets forth the terms and compensation of the members. Contains ethics provisions. Provides that the terms of the members of the existing Lottery Control Board shall terminate on May 31, 2008 or when all of the new members have been appointed, whichever occurs later. Requires the Concessionaire to prepare and provide to the State a list of all agents that have been engaged by the Concessionaire to distribute lottery tickets. Makes other changes. Effective immediately.

Further amends the Illinois Lottery Law. With respect to the Illinois Education Trust Fund, provides that the Treasurer shall make all reasonable efforts to accrue "the highest attainable return on investment" (instead of a return on investment of at least 5% per annum). Provides that the Lottery Concession Trust Fund is created for the purpose of transferring to the State its 20% share of gross revenues after prize payouts (in addition to the purpose of holding Concession revenues).

Provides that the Lottery Control Board shall review all contracts entered into by the Concessionaire with an aggregate amount of $50,000 (instead of $100,000).

Provides that a State constitutional officer or member of the General Assembly, or any entity from which the officer or member receives compensation, may not have a direct interest in any entity that owns, is owned by, or is under common control with the Concessionaire.

Provides that not less than $5,000,000,000 of the proceeds from a management and concession agreement must be delivered on the date the agreement becomes effective and the remaining amounts must be delivered within 2 years after that date. Provides that, of the first $10,000,000,000 of the proceeds of the management and concession agreement, 70% shall be deposited into the Illinois Works Fund and 30% shall be deposited into the Illinois Education Trust Fund.

Reinserts similar provisions to Senate Amendment 4. Provides that the term "executive employee" means the President, Chairman, Chief Executive Officer, or other employee with executive decision-making authority over the long-term and day-to-day affairs of the Concessionaire, or an employee whose compensation is determined directly, in whole or in part, by the award of or payment pursuant to the Management and Concession Agreement.

×