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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016 SB1655 Introduced 2/20/2015, by Sen. Thomas Cullerton SYNOPSIS AS INTRODUCED: |
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Creates the Higher Education Executive Compensation Oversight Act. Provides that before the board of trustees of a community college district may enter into or amend a severance agreement with the president of a community college, the board must provide public notice of the severance agreement. Allows a petition to be filed objecting to the terms of the severance agreement, signed by 5% of the eligible voters that reside within the district. Provides that if such a petition is filed, the severance agreement is null and void. Provides that before the board of trustees of a public university may enter into or amend a severance agreement with an executive of the university, the board must provide public notice of the severance agreement and must submit the severance agreement to various committees of the General Assembly. Provides that the committees shall have 30 calendar days to review the severance agreement, and the severance agreement shall not become effective if, within 30 calendar days after its delivery to the committees, either chamber of the General Assembly disapproves the severance agreement. Provides that a severance agreement not so disapproved shall become effective by its terms, but not less than 30 calendar days after its delivery to the committees. Allows a board to enter into an executive severance agreement only if it has been reviewed by the committees and not otherwise disapproved. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
| | A BILL FOR |
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| | SB1655 | | LRB099 08435 NHT 28589 b |
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1 | | AN ACT concerning education.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 1. Short title. This Act may be cited as the Higher |
5 | | Education Executive Compensation Oversight Act. |
6 | | Section 5. Definitions. In this Act: |
7 | | "Community college" means a community college included in |
8 | | the definition of "Community Colleges" under the Public |
9 | | Community College Act. |
10 | | "Community college board" means the board of trustees of a |
11 | | community college district. |
12 | | "Community college district" means a community college |
13 | | district included in the definition of "Community College |
14 | | Districts" under the Public Community College Act. |
15 | | "Executive" means any person holding the office of |
16 | | president or chancellor at the University of Illinois, Southern |
17 | | Illinois University, Chicago State University, Eastern |
18 | | Illinois University, Governors State University, Illinois |
19 | | State University, Northeastern Illinois University, Northern |
20 | | Illinois University, Western Illinois University, or any other |
21 | | public university now or hereafter established or authorized by |
22 | | the General Assembly. |
23 | | "Public university board" means the board of trustees of |