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1 | AN ACT concerning State government.
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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 | ARTICLE 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | Section 1-1. Short title. This Act may be cited as the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | Illinois Regenerative Medicine Institute Act. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7 | Section 1-5. Single law; purpose. The Illinois | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | Regenerative Medicine Institute Act and the amendatory changes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9 | made in Article 90 of this Act to the Election Code, the State | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10 | Finance Act, and the General Obligation Bond Act shall be | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11 | considered a single "law" for purposes of Section 9(b) of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12 | Article IX of the Illinois Constitution. The various parts of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13 | this law authorize the State to issue State debt and provide | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
14 | for the specific purposes and the manner of repayment of that | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
15 | debt. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16 | Section 1-10. Legislative intent. This Act is intended to: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17 | (1) Create a research institute to support stem cell | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
18 | research at Illinois universities and other advanced | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
19 | medical research facilities throughout the State. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20 | (2) Maximize the use of research funds by giving | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
21 | priority to stem cell research that has the greatest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
22 | potential for therapies and cures that cannot or are | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
23 | unlikely to receive timely or sufficient federal funding. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
24 | (3) Ensure that the research is conducted safely and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
25 | ethically by including provisions to require compliance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
26 | with standards based on national models that protect | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
27 | patient safety, patient rights, patient privacy, and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
28 | prohibit the purchase or sale of embryonic or fetal tissue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
29 | for research purposes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30 | (4) Prohibit the use of State funds made available |
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1 | pursuant to this Act for research involving human | ||||||
2 | reproductive cloning, fetuses from induced abortions, or | ||||||
3 | the creation of embryos through the combination of gametes | ||||||
4 | solely for the purpose of research. | ||||||
5 | (5) Reduce the long-term health care cost burden on | ||||||
6 | Illinois through the development of therapies that treat | ||||||
7 | diseases and injuries with the ultimate goal to cure them. | ||||||
8 | (6) Require strict fiscal and public accountability | ||||||
9 | through mandatory independent audits, open meetings, | ||||||
10 | public hearings, open access to published papers, and | ||||||
11 | annual reports to the public and the General Assembly. | ||||||
12 | (7) Establish a system of governance for the institute | ||||||
13 | that draws on representatives from the Illinois medical | ||||||
14 | research and academic community, Illinois disease advocacy | ||||||
15 | groups, and Illinois experts in the development of medical | ||||||
16 | therapies and thereby insulates research decisions from | ||||||
17 | partisan political concerns. | ||||||
18 | (8) Establish new funding sources to pay the debt | ||||||
19 | service on the bonds issued to fund medical and basic | ||||||
20 | scientific research that will eventually produce | ||||||
21 | royalties, patents, and licensing fees for the State and | ||||||
22 | significantly reduce future State health care costs; a tax | ||||||
23 | on the use of medical procedures raises revenue from an | ||||||
24 | industry that is expected to benefit from such research, | ||||||
25 | and using definitions from the federal tax code to exclude | ||||||
26 | medically-necessary procedures builds upon the public | ||||||
27 | policy decisions made by Congress in the field of health | ||||||
28 | care taxation.
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29 | (9) Benefit the Illinois economy by creating projects, | ||||||
30 | jobs, and therapies that will generate significant new | ||||||
31 | economic activity for the State. | ||||||
32 | Section 1-15. Referendum. Pursuant to Section 9(b) of | ||||||
33 | Article IX of the Illinois Constitution, the electors of the | ||||||
34 | State of Illinois shall vote in the 2006 general election | ||||||
35 | whether to approve this Illinois Regenerative Medicine |
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1 | Institute Act and to incur a State debt not to exceed | ||||||
2 | $1,000,000,000 as provided in this Act. The question shall be | ||||||
3 | substantially as follows: "Shall the State of Illinois from | ||||||
4 | time to time issue general obligation bonds in a principal | ||||||
5 | amount not to exceed $1,000,000,000 for the purposes of | ||||||
6 | establishing and funding
the Illinois Regenerative Medicine | ||||||
7 | Institute to support stem
cell research at Illinois | ||||||
8 | universities and other research facilities throughout | ||||||
9 | Illinois, all pursuant to the Illinois
Regenerative Medicine | ||||||
10 | Institute Act enacted by the
94th General Assembly and the | ||||||
11 | General Obligation Bond Act?". Spaces to mark the ballot "Yes" | ||||||
12 | or "No" shall be provided.
The question shall appear under the | ||||||
13 | heading "The Illinois Regenerative Medicine Institute Act". | ||||||
14 | Section 1-20. Simple majority required. Because this Act | ||||||
15 | provides for approval by a majority of the electors voting on | ||||||
16 | the question at the next general election following passage, | ||||||
17 | pursuant to subsection (b) of Section 9 of Article IX of the | ||||||
18 | Illinois Constitution, this Act requires the affirmative vote | ||||||
19 | of a simple majority of the members elected to each house of | ||||||
20 | the General Assembly, and not a three-fifths majority. | ||||||
21 | ARTICLE 5 | ||||||
22 | Section 5-1. Short title. This Article may be cited as the | ||||||
23 | Illinois Regenerative Medicine Institute Creation Act. | ||||||
24 | Section 5-5. Definitions. | ||||||
25 | "Adult stem cell" means an undifferentiated cell found in a | ||||||
26 | differentiated tissue in an adult human that can renew itself | ||||||
27 | and may, with certain limitations, differentiate to yield all | ||||||
28 | the specialized cell types of the tissue from which it | ||||||
29 | originated. | ||||||
30 | "Executive Director" means the Executive Director of the | ||||||
31 | institute. | ||||||
32 | "IRMI" or "institute" means the Illinois Regenerative |
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1 | Medicine Institute. | ||||||
2 | "Oversight Committee" means the IRMI Oversight Committee. | ||||||
3 | "Pluripotent cells" means cells that are capable of | ||||||
4 | self-renewal and have broad potential to differentiate into | ||||||
5 | multiple cell types. Pluripotent stem cells may be derived from | ||||||
6 | somatic cell nuclear transfer or from surplus embryos produced | ||||||
7 | during in vitro fertilization treatments and donated under | ||||||
8 | appropriate informed consent procedures. These excess cells | ||||||
9 | from in vitro fertilization treatments would otherwise be | ||||||
10 | intended to be discarded if not used for medical research. | ||||||
11 | "Progenitor cells" means multipotent or precursor cells | ||||||
12 | that are partially differentiated but retain the ability to | ||||||
13 | divide and give rise to differentiated cells. | ||||||
14 | "Stem cells" mean nonspecialized cells that have the | ||||||
15 | capacity to divide in culture and to differentiate into more | ||||||
16 | mature cells with specialized functions. | ||||||
17 | Section 5-10. Institute creation; purpose; powers. | ||||||
18 | (a) There is established the Illinois Regenerative | ||||||
19 | Medicine Institute. | ||||||
20 | (b) The institute shall have the following purposes: | ||||||
21 | (1) To make grants and loans for stem cell research to | ||||||
22 | realize therapies, protocols, and medical procedures that | ||||||
23 | will result in, as speedily as possible, the cure for, and | ||||||
24 | substantial mitigation of, major diseases, injuries, and | ||||||
25 | orphan diseases. | ||||||
26 | (2) To support all stages of the process of developing | ||||||
27 | cures, from laboratory research through successful | ||||||
28 | clinical trials. | ||||||
29 | (3) To establish the appropriate regulatory standards | ||||||
30 | and oversight bodies for research and facilities | ||||||
31 | development. | ||||||
32 | (c) Notwithstanding any other provision of this or any | ||||||
33 | other law, the institute may use State issued bonds to fund | ||||||
34 | medical and basic scientific research involving stem cells, | ||||||
35 | including therapy development through clinical trials and |
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1 | facilities.
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2 | Section 5-15. State policy on stem cell research; criminal | ||||||
3 | penalties. | ||||||
4 | (a) It is the policy of the State to permit stem cell | ||||||
5 | research that includes research involving adult stem cells, | ||||||
6 | cord blood stem cells, pluripotent stem cells, progenitor | ||||||
7 | cells, or any combination of those cells. | ||||||
8 | (b) No funds authorized for, or made available to, the | ||||||
9 | institute shall be used for research involving human | ||||||
10 | reproductive cloning or fetuses from induced abortions or to | ||||||
11 | create embryos through the combination of gametes solely for | ||||||
12 | the purpose of research. | ||||||
13 | (c) A person who knowingly engages or assists, directly or | ||||||
14 | indirectly, in the cloning of a human being is guilty of a | ||||||
15 | Class 1 felony. As used in this Section, "cloning of a human | ||||||
16 | being" means the asexual human reproduction by implanting or | ||||||
17 | attempting to implant the product of nuclear transplantation | ||||||
18 | into a woman's uterus to initiate a pregnancy or the | ||||||
19 | replication of a human being through the production of a | ||||||
20 | precise genetic copy of human DNA or any other molecule, cell, | ||||||
21 | or tissue, in order to create a new human being. | ||||||
22 | (d) A person may not knowingly, for valuable consideration, | ||||||
23 | purchase or sell embryonic or cadaveric fetal tissue for | ||||||
24 | research purposes. | ||||||
25 | For the purposes of this subsection, payment of customary | ||||||
26 | medical charges for the removal, processing, disposal, | ||||||
27 | preservation, quality control, storage, transplantation, or | ||||||
28 | implantation of the tissue does not constitute valuable | ||||||
29 | consideration. This subsection does not prohibit reimbursement | ||||||
30 | for removal, storage, or transportation of embryonic fetal | ||||||
31 | tissue for research purposes pursuant to this Act. | ||||||
32 | A person who knowingly purchases or sells embryonic tissue | ||||||
33 | for research purposes in violation of this Section is guilty of | ||||||
34 | a Class A misdemeanor for the first conviction and a Class 4 | ||||||
35 | felony for subsequent convictions. |
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1 | Section 5-20. Illinois Regenerative Medicine Institute | ||||||
2 | Oversight Committee.
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3 | (a) The Oversight Committee shall be composed of 7 members. | ||||||
4 | Members shall come from the medical community or the scientific | ||||||
5 | research community and shall have experience in peer review and | ||||||
6 | scientific grant making. Members shall be as follows: | ||||||
7 | (1) Two members to be appointed by the Governor with | ||||||
8 | the advice and consent of the Senate. | ||||||
9 | (2) Two members to be appointed by the Comptroller with | ||||||
10 | the advice and consent of the Senate. | ||||||
11 | (3) Two members to be appointed by the Treasurer with | ||||||
12 | the advice and consent of the Senate. | ||||||
13 | (4) The Director of Public Health. | ||||||
14 | (b) At the time of appointment, the Governor shall | ||||||
15 | designate one member to serve a 2-year term and one member to | ||||||
16 | serve a 6-year term, the Comptroller shall designate one member | ||||||
17 | to serve a 4-year term and one to serve a 6-year term, and the | ||||||
18 | Treasurer shall designate one member to serve a 2-year term and | ||||||
19 | one to serve a 4-year term. Thereafter, appointments, other | ||||||
20 | than the Director of Public Health who shall serve ex officio, | ||||||
21 | shall be for a term of 6 years. A member shall serve until his | ||||||
22 | or her successor appointed and qualified for office by filing | ||||||
23 | the oath and bond. | ||||||
24 | No member of the Oversight Committee may receive | ||||||
25 | compensation for his or her services, but each member may be | ||||||
26 | reimbursed for expenses incurred in the performance of his or | ||||||
27 | her duties. | ||||||
28 | (c) Every 4 years the Oversight Committee shall choose from | ||||||
29 | its membership a Chairperson, a Vice-Chairperson, and a | ||||||
30 | Secretary. The Chairperson shall preside at meetings of the | ||||||
31 | Oversight Committee and shall have other duties as provided for | ||||||
32 | in this Article or as provided for by the Oversight Committee. | ||||||
33 | The Vice-Chairperson shall preside at meetings whenever the | ||||||
34 | Chairperson is unable to attend or preside. The Secretary shall | ||||||
35 | ensure that an accurate record is made of all proceedings of |
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1 | the Oversight Committee and shall have other duties as provided | ||||||
2 | for in this Article or as provided for by the Oversight | ||||||
3 | Committee. | ||||||
4 | (d) The Oversight Committee shall hold at least 4 public | ||||||
5 | meetings per year, one of which shall be designated as the | ||||||
6 | institute's annual meeting. The Oversight Committee may hold | ||||||
7 | additional meetings as it determines are necessary or | ||||||
8 | appropriate. | ||||||
9 | (e) The Oversight Committee shall award all grants, loans, | ||||||
10 | and contracts in public meetings and shall adopt and amend all | ||||||
11 | governance, scientific, medical, and regulatory standards in | ||||||
12 | public meetings. | ||||||
13 | (f) The Oversight Committee functions are: | ||||||
14 | (1) Oversee the operations of the institute and appoint | ||||||
15 | an Executive Director for the institute. | ||||||
16 | (2) Develop annual and long-term strategic research | ||||||
17 | and financial plans for the institute. | ||||||
18 | (3) Approve an annual budget for the institute. | ||||||
19 | (4) Make final decisions on research standards and | ||||||
20 | grant and loan awards. | ||||||
21 | (5) Approve appointments to the institute's various | ||||||
22 | advisory panels. | ||||||
23 | (6) Ensure the completion of an annual financial audit | ||||||
24 | of the institute's operations. | ||||||
25 | (7) Issue public reports on the activities of the | ||||||
26 | institute and to the extent possible provide open access to | ||||||
27 | published papers. | ||||||
28 | (8) Amend policies regarding intellectual property | ||||||
29 | rights arising from research funded by the institute. | ||||||
30 | (9) Amend rules and guidelines for the operation of the | ||||||
31 | institute. | ||||||
32 | (10) Adopt, amend, and rescind rules to carry out the | ||||||
33 | purposes and provisions of this Article, and to govern the | ||||||
34 | procedures of the institute. | ||||||
35 | The Illinois Administrative Procedure Act, including | ||||||
36 | review by the Joint Committee on Administrative Rules, is |
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1 | hereby expressly adopted and shall apply to all | ||||||
2 | administrative rules and procedures adopted by the | ||||||
3 | Oversight Committee. The Oversight Committee may use its | ||||||
4 | emergency rulemaking authority to adopt initial rules. The | ||||||
5 | General Assembly finds that the adoption of rules to | ||||||
6 | implement this Article is deemed an emergency and necessary | ||||||
7 | for the public interest, safety, and welfare. | ||||||
8 | (11) Request the issuance of bonds pursuant to Section | ||||||
9 | 6.5 of the General Obligation Bond Act with the proceeds to | ||||||
10 | be deposited into the Regenerative Medicine Bond Fund and | ||||||
11 | expend the proceeds of those bonds. The Oversight | ||||||
12 | Committee, however, shall not request the issuance of bonds | ||||||
13 | unless, based on estimates and reports from the Commission | ||||||
14 | on Government Forecasting and Accountability, the | ||||||
15 | Comptroller, and the Governor's Office of Management and | ||||||
16 | Budget, the funds in the Cosmetic Medical Procedure | ||||||
17 | Utilization Tax Fund and the Regenerative Medicine | ||||||
18 | Institute Operations Fund are reasonably estimated to be | ||||||
19 | sufficient to pay the debt service on such bonds issued | ||||||
20 | pursuant to Section 6.5 of the General Obligation Bond Act. | ||||||
21 | (12) Use funds from the Regenerative Medicine | ||||||
22 | Institute Operations Fund for its operations and | ||||||
23 | activities. | ||||||
24 | (13) Annually modify its funding and finance programs | ||||||
25 | to optimize the institute's ability to achieve the | ||||||
26 | objective that its activities be revenue-positive for the | ||||||
27 | State of Illinois without jeopardizing the progress of its | ||||||
28 | core medical and scientific research program. | ||||||
29 | (14) Accept additional revenue and real and personal | ||||||
30 | property, including but not limited to gifts, royalties, | ||||||
31 | interest, and appropriations that may be used to supplement | ||||||
32 | annual research grant funding and the operations of the | ||||||
33 | institute. | ||||||
34 | (15) At the institute's discretion, fix, determine, | ||||||
35 | charge, and collect any premiums, fees, charges, costs, and | ||||||
36 | expenses, including without limitation any application |
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1 | fees, grant administration fees, program fees, financing | ||||||
2 | charges, or publication fees from any person in connection | ||||||
3 | with its activities. | ||||||
4 | (16) Perform all other acts necessary or appropriate in | ||||||
5 | the exercise of its power, authority, and jurisdiction over | ||||||
6 | the institute. | ||||||
7 | Section 5-25. Advisory panels.
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8 | (a) The Chairperson of the Oversight Committee shall | ||||||
9 | appoint persons, with the advice and consent of a majority of | ||||||
10 | the Oversight Committee, to serve on various advisory panels. | ||||||
11 | The Oversight Committee shall determine the number and size | ||||||
12 | of advisory panels to be appointed. | ||||||
13 | Persons appointed to advisory panels shall have expertise | ||||||
14 | in medical or stem cell research as researchers, physicians, | ||||||
15 | ethicists, or administrators. | ||||||
16 | (b) The advisory panels shall review and make a | ||||||
17 | recommendation on the merits of all grant and loan proposals | ||||||
18 | prior to final action by the Oversight Committee. | ||||||
19 | (c) The advisory panels shall follow the current Review | ||||||
20 | Procedures for Scientific Review Group Meetings as stipulated | ||||||
21 | by the National Institutes of Health, Center for Scientific | ||||||
22 | Review. | ||||||
23 | (d) Each advisory panel shall hold at least 2 public | ||||||
24 | meetings per year. Advisory panels may hold additional meetings | ||||||
25 | as necessary or appropriate.
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26 | Section 5-30. Applicability of open government and ethics | ||||||
27 | laws. | ||||||
28 | (a) Nothing in this Act shall exempt the Oversight | ||||||
29 | Committee or the various advisory panels from the Open Meetings | ||||||
30 | Act. | ||||||
31 | (b) Nothing in this Act shall exempt the institute, | ||||||
32 | including the Oversight Committee and the various advisory | ||||||
33 | panels, from the Freedom of Information Act or the State | ||||||
34 | Records Act.
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1 | (c) The State Officials and Employees Ethics Act and | ||||||
2 | Article 4A of the Illinois Governmental Ethics Act shall apply | ||||||
3 | to members of the Oversight Committee, the various advisory | ||||||
4 | panels, and employees of the institute. | ||||||
5 | (d) No member of the Oversight Committee, the various | ||||||
6 | advisory panels, or employee of the institute shall make, | ||||||
7 | participate in making, or in any way attempt to use his or her | ||||||
8 | official position to influence a decision to approve or award a | ||||||
9 | grant, loan, or contract to his or her employer (or another | ||||||
10 | employee of his or her employer), but a member may participate | ||||||
11 | in a decision to approve or award a grant, loan, or contract to | ||||||
12 | a nonprofit entity in the same field as his or her employer. | ||||||
13 | A member of the Oversight Committee, the various advisory | ||||||
14 | panels, or the institute may participate in a decision to | ||||||
15 | approve or award a grant, loan, or contract to an entity for | ||||||
16 | the purposes of research involving a disease from which a | ||||||
17 | member or his or her immediate family suffers or in which the | ||||||
18 | member has an interest as a representative of a disease | ||||||
19 | advocacy organization. | ||||||
20 | The adoption of standards pursuant to Section 5-40 of this | ||||||
21 | Article is not a decision subject to this subsection. | ||||||
22 | The Oversight Committee shall adopt additional policies on | ||||||
23 | ethics, including conflicts of interests, in order to minimize | ||||||
24 | possible influences of personal finances and partisan | ||||||
25 | political motivations on the decisions and activities of the | ||||||
26 | institute, the various advisory panels, and the Oversight | ||||||
27 | Committee. The initial policies on conflicts of interests shall | ||||||
28 | be based on standards applicable to members of scientific | ||||||
29 | review committees of the National Institutes of Health. | ||||||
30 | Section 5-35. Public and financial accountability | ||||||
31 | standards. | ||||||
32 | (a) The institute shall issue an annual report to the | ||||||
33 | public, the Governor, and the General Assembly that sets forth | ||||||
34 | its activities, grants awarded, grants in progress, research | ||||||
35 | accomplishments, and future program directions. Each annual |
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1 | report shall include but not be limited to the following: the | ||||||
2 | number and dollar amounts of research grants; the grantees for | ||||||
3 | the prior year; the institute's administrative expenses; an | ||||||
4 | assessment of the available funding for stem cell research from | ||||||
5 | sources other than the institute; a summary of research | ||||||
6 | findings, including promising new research areas; an | ||||||
7 | assessment of the relationship between the institute's grants | ||||||
8 | and the overall strategy of its research program; and a report | ||||||
9 | of the institute's strategic research and financial plans. | ||||||
10 | This report shall be posted on the institute's website and | ||||||
11 | shall be available to the general public upon request. | ||||||
12 | (b) The institute shall issue quarterly reports throughout | ||||||
13 | the fiscal year to the public, the Governor, and the General | ||||||
14 | Assembly that should include the number and dollar amounts of | ||||||
15 | the research grants, a summary of research findings, and an | ||||||
16 | assessment of the relationship between the institute's grants | ||||||
17 | and the overall strategy of its research program. | ||||||
18 | This report shall be posted on the institute's website and | ||||||
19 | shall be available to the general public upon request. | ||||||
20 | (c) Subject to the Illinois State Auditing Act, the | ||||||
21 | institute shall annually commission an independent financial | ||||||
22 | audit of its activities and operations from a certified public | ||||||
23 | accounting firm that shall be provided to the Auditor General, | ||||||
24 | who shall review the audit and annually issue a public report | ||||||
25 | of that review.
| ||||||
26 | Section 5-40. Medical and scientific accountability | ||||||
27 | standards.
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28 | (a) The institute and its grantees shall be governed solely | ||||||
29 | by the provisions of this Article in the establishment of | ||||||
30 | standards, the award of grants, and the conduct of grants | ||||||
31 | awarded pursuant to this Article. | ||||||
32 | (b) The institute shall establish standards for the | ||||||
33 | following: | ||||||
34 | (1) Informed consent. Standards for obtaining the | ||||||
35 | informed consent of research donors, patients, or |
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1 | participants initially shall be generally based on the | ||||||
2 | standards in place on January 1, 2006, for all research | ||||||
3 | funded by the National Institutes of Health, with | ||||||
4 | modifications to adapt to the mission and objectives of the | ||||||
5 | institute. | ||||||
6 | (2) Controls on research involving humans. Standards | ||||||
7 | for the review of research involving human subjects | ||||||
8 | initially shall be generally based on the Institutional | ||||||
9 | Review Board standards promulgated by the National | ||||||
10 | Institutes of Health and in effect on January 1, 2006, with | ||||||
11 | modifications to adapt to the mission and objective of the | ||||||
12 | institute. | ||||||
13 | (3) Prohibition on compensation. Standards prohibiting | ||||||
14 | compensation to research donors or participants shall | ||||||
15 | permit reimbursement of expenses. | ||||||
16 | (4) Patient privacy laws. Standards shall ensure | ||||||
17 | compliance with State and federal patient privacy laws. | ||||||
18 | (5) Limitations on payments for cells. Standards shall | ||||||
19 | limit payments for the purchase of stem cells or stem cell | ||||||
20 | lines to reasonable payment for removal, processing, | ||||||
21 | disposal, preservation, quality control, storage, | ||||||
22 | transplantation, implantation, or legal transaction or | ||||||
23 | other administrative costs associated with these medical | ||||||
24 | procedures and shall specifically include any required | ||||||
25 | payments for medical or scientific technologies, products, | ||||||
26 | or processes for royalties, patent, licensing fees, or | ||||||
27 | other costs for intellectual property. | ||||||
28 | (6) Time limits for obtaining cells. Standards shall | ||||||
29 | set a limit on the time during which cells may be extracted | ||||||
30 | from blastocysts, which shall initially be 8 to 12 days | ||||||
31 | after cell division begins, not counting any time during | ||||||
32 | which the blastocysts or cells have been stored frozen. | ||||||
33 | Section 5-45. Institute operations.
| ||||||
34 | (a) The institute may sue and be sued; provided that any | ||||||
35 | suit against the institute based upon a claim sounding in tort |
| |||||||
| |||||||
1 | must be filed in the Court of Claims. | ||||||
2 | Based upon institute standards, institute grantees shall | ||||||
3 | indemnify or insure, and hold the institute harmless against | ||||||
4 | any and all losses, claims, damages, expenses, or liabilities, | ||||||
5 | including attorneys' fees, arising from research conducted by | ||||||
6 | the grantee pursuant to the grant, or, in the alternative, | ||||||
7 | grantees shall name the institute as an additional insured and | ||||||
8 | submit proof of that insurance. | ||||||
9 | To the extent allowed under the Illinois Constitution and | ||||||
10 | given the scientific, medical, and technical nature of the | ||||||
11 | issues facing the institute, the institute is authorized to | ||||||
12 | retain outside counsel when, after consultation with the | ||||||
13 | Attorney General, the institute determines that the institute | ||||||
14 | requires specialized services not provided by the Attorney | ||||||
15 | General's office. | ||||||
16 | (a-5) The institute may enter into contracts or obligations | ||||||
17 | that are authorized or permitted by law. | ||||||
18 | (b) The Oversight Committee shall select an Executive | ||||||
19 | Director who shall exercise the powers delegated in this | ||||||
20 | subsection. | ||||||
21 | The Executive Director shall be the chief administrative | ||||||
22 | and operational officer of the institute, shall direct and | ||||||
23 | supervise its administrative affairs and general management | ||||||
24 | and perform such other duties as may be prescribed from time to | ||||||
25 | time by the Oversight Committee, and shall receive compensation | ||||||
26 | fixed by the Oversight Committee. | ||||||
27 | (c) The institute shall be subject to the Illinois | ||||||
28 | Procurement Code. For purposes of the Illinois Procurement | ||||||
29 | Code, the institute shall be considered an institute of higher | ||||||
30 | education and use the services of the higher education chief | ||||||
31 | procurement officer and the higher education procurement | ||||||
32 | bulletin. | ||||||
33 | The institute shall ensure that grantees purchase goods and | ||||||
34 | services from Illinois suppliers to the extent reasonably | ||||||
35 | possible, in a good faith effort to achieve a goal of more than | ||||||
36 | 50% of those purchases from Illinois suppliers. |
| |||||||
| |||||||
1 | (d) All grants and loan awards issued by the institute | ||||||
2 | shall be subject to intellectual property agreements that | ||||||
3 | provide protections and incentives to encourage both the | ||||||
4 | discovery and development of new knowledge and its transfer for | ||||||
5 | the public benefit. | ||||||
6 | (e) The institute shall hold ownership rights in all | ||||||
7 | intellectual property created as a result of the grant or loan | ||||||
8 | received by the creator or creators from the institute. | ||||||
9 | "Intellectual property" as used in this subsection is | ||||||
10 | broadly defined to include inventions, discoveries, know-how, | ||||||
11 | show-how, processes, unique materials, copyrightable works, | ||||||
12 | original data, and other creative or artistic works that have | ||||||
13 | value. Intellectual property includes that which is | ||||||
14 | protectable by statute or legislation, such as patents, | ||||||
15 | copyrights, trademarks, service marks, trade secrets, and mask | ||||||
16 | works. It also includes the physical embodiments of | ||||||
17 | intellectual effort, such as models, machines, devices, | ||||||
18 | designs, apparatus, instrumentation, circuits, computer | ||||||
19 | programs and visualizations, biological materials, chemicals, | ||||||
20 | other compositions of matter, and records of research. | ||||||
21 | "Trademarks" and "service marks" are distinctive words or | ||||||
22 | graphic symbols identifying the source, product, producer, or | ||||||
23 | distributor of goods or services. Registration of trademarks or | ||||||
24 | service marks, at the State or federal level, shall be approved | ||||||
25 | by the Executive Director. | ||||||
26 | As used in this Section "creator" refers to an individual | ||||||
27 | or group of individuals who make, conceive, reduce to practice, | ||||||
28 | author, or otherwise make a substantive intellectual | ||||||
29 | contribution to the creation of intellectual property. | ||||||
30 | "Creator" includes the definition of "inventor" used in U.S. | ||||||
31 | patent law and the definition of "author" used in the U.S. | ||||||
32 | Copyright Act. | ||||||
33 | (f) All intellectual property in which the institute has an | ||||||
34 | ownership interest under the provisions of this Article and | ||||||
35 | that has the potential to be brought into practical use for | ||||||
36 | public benefit or for which disclosure is required by law shall |
| |||||||
| |||||||
1 | be reported promptly in writing by the creator or creators to | ||||||
2 | the institute. The disclosure shall constitute a full and | ||||||
3 | complete disclosure of the subject matter of the discovery or | ||||||
4 | the development and identify all persons participating | ||||||
5 | therein. The creator or creators shall furnish such additional | ||||||
6 | information and execute such documents from time to time as may | ||||||
7 | be reasonably requested. | ||||||
8 | (g) After evaluation of the intellectual property and | ||||||
9 | review of applicable contractual commitments, the institute | ||||||
10 | may develop the property through licensing, may release it to | ||||||
11 | the creator or creators if permitted by law, or may take such | ||||||
12 | other actions as are determined to be in the public interest. | ||||||
13 | Exploitation by the institute may or may not involve statutory | ||||||
14 | protection of the intellectual property rights, such as filing | ||||||
15 | for patent protection or registering the copyright. | ||||||
16 | (h) If there is a question as to whether the institute has | ||||||
17 | a valid ownership claim in intellectual property, the | ||||||
18 | intellectual property should be disclosed in writing to the | ||||||
19 | institute by the creator or creators in accordance with this | ||||||
20 | Section. The disclosure is without prejudice to the creator's | ||||||
21 | ownership claim. The institute shall provide the creator with a | ||||||
22 | written statement as to the institute's ownership interest. | ||||||
23 | (i) The institute shall inform the principal creators of | ||||||
24 | its substantive decisions regarding protection, | ||||||
25 | commercialization, or disposition of intellectual property | ||||||
26 | that has been disclosed. Specific terms of agreements with | ||||||
27 | external parties, however, may be proprietary business | ||||||
28 | information and subject to confidentiality restrictions. | ||||||
29 | (j) Should the institute decide to abandon development or | ||||||
30 | protection of institute-owned intellectual property, ownership | ||||||
31 | may be assigned to the creator or creators as allowed by law | ||||||
32 | subject to the rights of sponsors and to the retention of a | ||||||
33 | license to practice for institute purposes. The minimum terms | ||||||
34 | of that license shall grant the institute the right to use the | ||||||
35 | intellectual property in its programs of research and public | ||||||
36 | service on a perpetual, royalty-free, non-exclusive basis. The |
| |||||||
| |||||||
1 | institute may retain more than the minimum license rights, and | ||||||
2 | the assignment or license may be subject to additional terms | ||||||
3 | and conditions, such as revenue sharing with the institute or | ||||||
4 | reimbursement of the costs of statutory protection, when | ||||||
5 | justified by the circumstances of development. | ||||||
6 | (k) The institute may, at its discretion and consistent | ||||||
7 | with the public interest, license intellectual property to the | ||||||
8 | creator or creators on an exclusive or non-exclusive basis. The | ||||||
9 | creators must demonstrate technical and business capability to | ||||||
10 | commercialize the intellectual property. The creators may be | ||||||
11 | required to assume the cost of statutory protection. Agreements | ||||||
12 | with creators shall be subject to review and approval of | ||||||
13 | conflict of interest issues. | ||||||
14 | (l) The institute may accept assignment of intellectual | ||||||
15 | property from other parties, provided that the action is | ||||||
16 | determined to be consistent with the public interest. | ||||||
17 | Intellectual property so accepted shall be administered in a | ||||||
18 | manner consistent with the administration of other | ||||||
19 | institute-owned intellectual property. | ||||||
20 | (m) The creators of intellectual property owned by the | ||||||
21 | institute under the terms of this Article may be required to | ||||||
22 | state that to the best of their knowledge the intellectual | ||||||
23 | property does not infringe on any existing patent, copyright, | ||||||
24 | or other legal rights of third parties; that if the work is not | ||||||
25 | the original expression or creation of the creators, the | ||||||
26 | necessary permission for use has been obtained from the owner; | ||||||
27 | and that the work contains no libelous material nor material | ||||||
28 | that invades the privacy of others. | ||||||
29 | (n) The Oversight Committee has ultimate authority for the | ||||||
30 | stewardship of intellectual property developed within the | ||||||
31 | institute. Primary responsibility is delegated through the | ||||||
32 | Executive Director for establishing operational guidelines and | ||||||
33 | procedures for the administration of intellectual property, | ||||||
34 | including but not limited to determination of ownership, | ||||||
35 | assignment, protection, licensing, marketing, maintenance of | ||||||
36 | records, oversight of revenue or equity collection and |
| |||||||
| |||||||
1 | distribution, approval of individual exceptions, and | ||||||
2 | resolution of disputes among creators. | ||||||
3 | (o) Licenses, options for licenses, and other agreements | ||||||
4 | related to commercialization or exploitation of intellectual | ||||||
5 | property shall be granted in the name of the Illinois | ||||||
6 | Regenerative Medicine Institute. | ||||||
7 | (p) Research agreements shall provide that all | ||||||
8 | intellectual property developed as a result of a sponsored | ||||||
9 | research project shall belong to the institute unless otherwise | ||||||
10 | specified in writing. Outside sponsors of a research project | ||||||
11 | may receive an option to license the resulting intellectual | ||||||
12 | property on terms to be negotiated, the option to be exercised | ||||||
13 | within a specified period following the disclosure of the | ||||||
14 | intellectual property. When the nature of the proposed research | ||||||
15 | allows identification of a specific area of intellectual | ||||||
16 | property or application that is of interest to the outside | ||||||
17 | sponsor, the institute may accept research agreements with | ||||||
18 | terms that entitle the sponsor to specific commercial rights | ||||||
19 | within the defined field of interest. Otherwise, the specific | ||||||
20 | terms of licenses and rights to commercial development shall be | ||||||
21 | based on negotiation between the sponsor and the institute at | ||||||
22 | the time of exercise of an option by the outside sponsor and | ||||||
23 | shall depend on the nature of the intellectual property and its | ||||||
24 | application, the relative contributions of the institute and | ||||||
25 | the outside sponsor to the work, and the conditions deemed most | ||||||
26 | likely to advance the commercial development and acceptance of | ||||||
27 | the intellectual property. In all cases where exclusive | ||||||
28 | licensing is deemed appropriate, the license agreements shall | ||||||
29 | require diligent commercial development of the intellectual | ||||||
30 | property by the licensee. The institute may also determine, on | ||||||
31 | a case-by-case basis, that it is in the institute's interest to | ||||||
32 | assign ownership of resulting intellectual property to an | ||||||
33 | outside sponsor as an exception to this policy when | ||||||
34 | circumstances warrant that action, in accordance with | ||||||
35 | guidelines established by the Oversight Committee. | ||||||
36 | (q) Recommendations for exceptions to the provisions of the |
| |||||||
| |||||||
1 | policy in this Section shall be made by the Executive Director | ||||||
2 | to the Oversight Committee. | ||||||
3 | (r) For purposes of this Article, "proceeds" shall refer to | ||||||
4 | all revenue and equity, as defined in this subsection, received | ||||||
5 | by the institute from transfer, commercialization, or other | ||||||
6 | exploitation of institute-owned intellectual property. | ||||||
7 | "Revenue" shall mean cash from payments, including but not | ||||||
8 | limited to royalties, option fees, or license fees or from the | ||||||
9 | sale of the institute's equity interest. | ||||||
10 | "Equity" shall include but not be limited to stock, | ||||||
11 | securities, stock options, warrants, buildings, real or | ||||||
12 | personal property, or other non-cash consideration. | ||||||
13 | When revenue is received by the institute, all | ||||||
14 | out-of-pocket payments or obligations (and in some cases, a | ||||||
15 | reasonable reserve for anticipated future expenses) | ||||||
16 | attributable to protecting (including defense against | ||||||
17 | infringement or enforcement actions), marketing, licensing, or | ||||||
18 | administering the property may be deducted from the income. The | ||||||
19 | income remaining after the deductions is defined as "net | ||||||
20 | revenue". | ||||||
21 | The creator normally shall receive 50% of net revenue. If | ||||||
22 | there are joint creators, the net income shall be divided | ||||||
23 | equally among them absent a mutual agreement to the contrary. | ||||||
24 | The institute normally shall receive 50% of net revenue. | ||||||
25 | Distribution of the institute's share shall be allocated in | ||||||
26 | support of its future grant and loan making programs. | ||||||
27 | When the institute executes an agreement with a corporation | ||||||
28 | or other business entity for purposes of exploiting | ||||||
29 | intellectual property owned by the institute and the institute | ||||||
30 | receives or is entitled to receive equity, the equity or the | ||||||
31 | proceeds of the equity shall be shared among the creators and | ||||||
32 | the institute in the same proportions as revenue distributions. | ||||||
33 | Special facts or circumstances may warrant a different | ||||||
34 | distribution of proceeds than specified in this subsection, and | ||||||
35 | the distributions shall be determined on a case-by-case basis | ||||||
36 | under the authority of the Oversight Committee. |
| |||||||
| |||||||
1 | When the institute receives revenue from third parties that | ||||||
2 | results from successful actions for the purpose of defending or | ||||||
3 | enforcing the institute's rights in its intellectual property, | ||||||
4 | the revenue may first be used to reimburse the institute (or | ||||||
5 | the sponsor or licensee, if appropriate) for expenses incurred | ||||||
6 | in the actions. The creators shall be entitled to recovery of | ||||||
7 | lost royalties from the remaining net revenue, in the same | ||||||
8 | proportions as specified in this subsection or in a prior | ||||||
9 | written agreement. The remaining net revenue shall be allocated | ||||||
10 | in support of the institute's grant and loan making programs.
| ||||||
11 | Section 5-50. Appropriation and allocation of funding.
| ||||||
12 | (a) Moneys in the Regenerative Medicine Bond Fund shall be | ||||||
13 | used to make grants and loans for stem cell research pursuant | ||||||
14 | to this Article. | ||||||
15 | Grants and loans for research shall be awarded based on | ||||||
16 | scientific merit. When determining the scientific merit of a | ||||||
17 | proposal the advisory panels and the Oversight Committee should | ||||||
18 | consider criteria including: | ||||||
19 | (1) A demonstrated record of achievement in the areas | ||||||
20 | of pluripotent stem cell and progenitor cell biology and | ||||||
21 | medicine. | ||||||
22 | (2) The quality of the research proposal. | ||||||
23 | (3) The potential for achieving significant research | ||||||
24 | or clinical results. | ||||||
25 | (4) The timetable for realizing the significant | ||||||
26 | results. | ||||||
27 | (5) The importance of the research objectives. | ||||||
28 | (6) The innovativeness of the proposed research. | ||||||
29 | The grantee shall provide or demonstrate available | ||||||
30 | matching funds of a minimum of 20% of the grant amount. | ||||||
31 | The institute shall limit indirect costs to 25% of a | ||||||
32 | research award except that the indirect cost limitation may be | ||||||
33 | increased by that amount by which the grantee provides matching | ||||||
34 | funds in excess of 20% of the grant amount. "Indirect costs" | ||||||
35 | mean the recipient's costs in the administration, accounting, |
| |||||||
| |||||||
1 | general overhead, and general support costs for implementing a | ||||||
2 | grant or loan of the institute. NIH definitions of "indirect | ||||||
3 | costs" shall be used as one of the bases to create guidelines | ||||||
4 | for recipients under this definition. | ||||||
5 | Grants and loans for buildings, building leases, and | ||||||
6 | capital equipment shall be solely for facilities and equipment | ||||||
7 | located within Illinois. | ||||||
8 | (b) The institute shall have the ability to receive and | ||||||
9 | distribute funds in the Regenerative Medicine Institute | ||||||
10 | Operations Fund and the Regenerative Medicine Bond Fund on | ||||||
11 | December 1, 2006 in order to commence operations.
| ||||||
12 | ARTICLE 10 | ||||||
13 | Section 10-1. Short title. This Article may be cited as the | ||||||
14 | Cosmetic Medical Procedure Utilization Tax Act . The tax imposed | ||||||
15 | by this Article may be referred to as the "Cosmetic Medical | ||||||
16 | Procedure Utilization Tax". | ||||||
17 | Section 10-5. Tax imposed; collection of tax. Beginning on | ||||||
18 | January 1, 2007, a tax is imposed upon the privilege of | ||||||
19 | utilizing cosmetic medical procedures in this State. The | ||||||
20 | subject of the cosmetic medical procedure shall pay the tax, | ||||||
21 | which shall be collected from the procedure subject by the | ||||||
22 | person billing the gross receipts from the cosmetic medical | ||||||
23 | procedure when collecting the payment for the cosmetic medical | ||||||
24 | procedure in the manner prescribed by the Department of | ||||||
25 | Revenue. If more than one person bills gross receipts from a | ||||||
26 | single cosmetic medical procedure, each person shall be | ||||||
27 | responsible for the collection of the gross receipts tax on the | ||||||
28 | portion of the gross receipts billed. | ||||||
29 | Section 10-10. Rate of tax. The tax imposed by this Article | ||||||
30 | is at the rate of 6% of the gross receipts from a cosmetic | ||||||
31 | medical procedure. |
| |||||||
| |||||||
1 | Section 10-15. Definitions. For the purposes of this | ||||||
2 | Article, the following terms shall have the following meanings: | ||||||
3 | "Cosmetic medical procedure" means any medical procedure | ||||||
4 | performed on an individual that is directed at improving the | ||||||
5 | procedure subject's appearance and that does not meaningfully | ||||||
6 | promote the proper function of the body or prevent or treat | ||||||
7 | illness or disease. "Cosmetic medical procedure" includes but | ||||||
8 | is not limited to cosmetic surgery, hair transplants, cosmetic | ||||||
9 | injections, cosmetic soft tissue fillers, dermabrasion and | ||||||
10 | chemical peel, laser hair removal, laser skin resurfacing, | ||||||
11 | laser treatment of leg veins, sclerotherapy, and cosmetic | ||||||
12 | dentistry. "Cosmetic medical procedure" does not include | ||||||
13 | reconstructive surgery or dentistry. | ||||||
14 | "Cosmetic surgery" means any procedure that is directed at | ||||||
15 | improving the patient's appearance and does not meaningfully | ||||||
16 | promote the proper function of the body or prevent or treat | ||||||
17 | illness or disease. | ||||||
18 | "Department" means the Department of Revenue. | ||||||
19 | "Gross receipts from a cosmetic medical procedure" means | ||||||
20 | all amounts paid for services, property, or occupancy required | ||||||
21 | for or associated with the performance of a cosmetic medical | ||||||
22 | procedure and billed to the procedure subject's account. | ||||||
23 | "Person" means any natural individual, firm, partnership, | ||||||
24 | association, joint stock company, joint venture, public or | ||||||
25 | private corporation, limited liability company, and any | ||||||
26 | receiver, executor, trustee, guardian, or other representative | ||||||
27 | appointed by order of any court. | ||||||
28 | "Reconstructive surgery or dentistry" includes any surgery | ||||||
29 | or dentistry necessary to ameliorate a deformity arising from, | ||||||
30 | or directly related to, a congenital abnormality, a personal | ||||||
31 | injury resulting from an accident or trauma, or disfiguring | ||||||
32 | disease. | ||||||
33 | Section 10-20. Reporting of tax. The Department shall | ||||||
34 | collect and administer the tax imposed pursuant to this | ||||||
35 | Article. The tax shall be reported and paid on a quarterly |
| |||||||
| |||||||
1 | basis in a manner prescribed by the Department. | ||||||
2 | Section 10-25. Rules. The Department shall promulgate such | ||||||
3 | rules and procedures as are required to implement this Article | ||||||
4 | and may use its emergency rulemaking authority to adopt initial | ||||||
5 | rules. The General Assembly finds that the adoption of rules to | ||||||
6 | implement this Article is deemed an emergency and necessary for | ||||||
7 | the public interest, safety, and welfare. The Illinois | ||||||
8 | Administrative Procedure Act is hereby expressly adopted and | ||||||
9 | shall apply to all administrative rules and procedures of the | ||||||
10 | Department of Revenue under this Article, except that (1) | ||||||
11 | paragraph (b) of Section 5-10 of the Illinois Administrative | ||||||
12 | Procedure Act does not apply to final orders, decisions, and | ||||||
13 | opinions of the Department, (2) item (ii) of subsection (a) of | ||||||
14 | Section 5-10 of the Illinois Administrative Procedure Act does | ||||||
15 | not apply to forms established by the Department for use under | ||||||
16 | this Article, and (3) the provisions of Section 10-45 of the | ||||||
17 | Illinois Administrative Procedure Act regarding proposals for | ||||||
18 | decision are excluded and not applicable to the Department | ||||||
19 | under this Article. | ||||||
20 | Section 10-30. Tax as billing item. The tax imposed by this | ||||||
21 | Article may be stated as a distinct item separate and apart on | ||||||
22 | any billing for the procedure, and shall be so stated when | ||||||
23 | requested by the procedure subject. | ||||||
24 | Section 10-35. Registration. Every person required to | ||||||
25 | collect the tax imposed by this Article shall apply to the | ||||||
26 | Department (upon a form prescribed and furnished by the | ||||||
27 | Department) for a Certificate of Registration under this | ||||||
28 | Article. In completing the application, the applicant shall | ||||||
29 | furnish such information as the Department may reasonably | ||||||
30 | require. Upon approval of an application for Certificate of | ||||||
31 | Registration, the Department shall issue, without charge, a | ||||||
32 | Certificate of Registration to the applicant. The Certificate | ||||||
33 | of Registration shall be displayed at the address that the |
| |||||||
| |||||||
1 | applicant states in his or her application to be the principal | ||||||
2 | place of business or location from which he or she will perform | ||||||
3 | cosmetic medical procedures in this State. If the applicant | ||||||
4 | will perform cosmetic medical procedures in this State from | ||||||
5 | other places of business or locations, he or she shall list the | ||||||
6 | addresses of the additional places of business or locations in | ||||||
7 | his or her application for Certificate of Registration, and the | ||||||
8 | Department shall issue a Sub-Certificate of Registration to the | ||||||
9 | applicant for each additional place of business or location. | ||||||
10 | Each Sub-Certificate of Registration shall be conspicuously | ||||||
11 | displayed at the place for which it is issued. Each | ||||||
12 | Sub-Certificate of Registration shall bear the same | ||||||
13 | registration number as that appearing upon the Certificate of | ||||||
14 | Registration to which the Sub-Certificate relates. Where an | ||||||
15 | applicant operates more than one place of business that is | ||||||
16 | subject to registration under this Section and those businesses | ||||||
17 | are substantially different in character or are engaged in | ||||||
18 | under different trade names or are engaged in under other | ||||||
19 | substantially dissimilar circumstances (so that it is more | ||||||
20 | practical, from an accounting, auditing, or bookkeeping | ||||||
21 | standpoint, for the businesses to be separately registered), | ||||||
22 | the Department may require or permit the person to apply for | ||||||
23 | and obtain a separate Certificate of Registration for each | ||||||
24 | business or for any of the businesses instead of registering | ||||||
25 | the person, as to all those businesses, under a single | ||||||
26 | Certificate of Registration supplemented by related | ||||||
27 | Sub-Certificates of Registration. No Certificate of | ||||||
28 | Registration shall be issued to any person who is in default to | ||||||
29 | the State of Illinois for moneys due under this Article. | ||||||
30 | Section 10-40. Returns. Every person required to collect | ||||||
31 | the tax imposed by this Article shall file a return in | ||||||
32 | accordance with reasonable rules promulgated by the Department | ||||||
33 | in accordance with Section 10-25. The return shall be filed on | ||||||
34 | a form prescribed by the Department and shall contain such | ||||||
35 | information as the Department may reasonably require. The |
| |||||||
| |||||||
1 | Department shall require returns to be filed on a quarterly | ||||||
2 | basis. A return for each calendar quarter shall be filed on or | ||||||
3 | before the twentieth day of the calendar month following the | ||||||
4 | end of that calendar quarter. | ||||||
5 | Section 10-45. Tax proceeds. All moneys received by the | ||||||
6 | Department pursuant to this Article shall be paid into the | ||||||
7 | Cosmetic Medical Procedure Utilization Tax Fund of the State | ||||||
8 | treasury, except that 5% of moneys received, up to a maximum | ||||||
9 | per fiscal year of $1,000,000, shall be paid into the | ||||||
10 | Regenerative Medicine Institute Operations Fund. | ||||||
11 | Section 10-50. Records. Every person required to collect | ||||||
12 | the tax imposed by this Article shall keep such records, | ||||||
13 | receipts, invoices, and other pertinent books, documents, | ||||||
14 | memoranda, and papers as the Department shall require, in the | ||||||
15 | form the Department shall require. In accordance with Section | ||||||
16 | 10-25, the Department may adopt rules that establish | ||||||
17 | requirements, including record forms and formats, for records | ||||||
18 | required to be kept and maintained by taxpayers. For the | ||||||
19 | purpose of administering and enforcing the provisions of this | ||||||
20 | Article, the Department, or any officer or employee of the | ||||||
21 | Department designated in writing by the Director of Revenue, | ||||||
22 | may hold investigations and hearings concerning any matters | ||||||
23 | covered in this Article and may examine any relevant books, | ||||||
24 | papers, records, documents, or memoranda of any person required | ||||||
25 | to collect the tax imposed by this Article or any taxable | ||||||
26 | purchaser, and may require the attendance of that person or any | ||||||
27 | officer or employee of that person, or of any person having | ||||||
28 | knowledge of the facts, and may take testimony and require | ||||||
29 | proof for its information. | ||||||
30 | Section 10-55. Tax additional to other taxes. The tax | ||||||
31 | imposed by this Article shall be in addition to all other | ||||||
32 | occupation or privilege taxes imposed by the State of Illinois | ||||||
33 | or by any municipal corporation or political subdivision of the |
| |||||||
| |||||||
1 | State of Illinois. | ||||||
2 | Section 10-60. Liability for tax. Any person required to | ||||||
3 | collect the tax imposed by this Article shall be liable to the | ||||||
4 | Department for the tax, whether or not the person has collected | ||||||
5 | the tax. To the extent that a person required to collect the | ||||||
6 | tax imposed by this Article has actually collected that tax, | ||||||
7 | the tax is held in trust for the benefit of the Department. The | ||||||
8 | Department may adopt rules necessary to effectuate a program of | ||||||
9 | electronic funds transfer for the payment of the tax imposed by | ||||||
10 | this Article. | ||||||
11 | Section 10-65. Uniform Penalty and Interest Act. The | ||||||
12 | Uniform Penalty and Interest Act shall apply, as far as | ||||||
13 | practical, to the subject matter of this Article to the same | ||||||
14 | extent as if those provisions were included in this Article. | ||||||
15 | Section 10-90. Severability. It is the purpose of Section | ||||||
16 | 10-5 of this Article to impose a tax upon the privilege of | ||||||
17 | utilizing cosmetic medical procedures in this State, the tax to | ||||||
18 | be based upon the gross receipts from cosmetic medical | ||||||
19 | procedures, so far as the same may be done, under the | ||||||
20 | Constitution and statutes of the United States, and the | ||||||
21 | Constitution of the State of Illinois. The tax is not imposed | ||||||
22 | upon the privilege of engaging in any business in interstate | ||||||
23 | commerce or otherwise, however, which business may not, under | ||||||
24 | the Constitution and statutes of the United States, be made the | ||||||
25 | subject of taxation by this State. If any clause, sentence, | ||||||
26 | Section, provision, or part of this Article or its application | ||||||
27 | to any person or circumstance shall be adjudged to be | ||||||
28 | unconstitutional, the remainder of this Article or its | ||||||
29 | application to persons or circumstances, other than those to | ||||||
30 | which it is held invalid, shall not be affected thereby. | ||||||
31 | ARTICLE 90 |
| |||||||
| |||||||
1 | Section 90-2. The Open Meetings Act is amended by changing | ||||||
2 | Section 2 as follows:
| ||||||
3 | (5 ILCS 120/2) (from Ch. 102, par. 42)
| ||||||
4 | Sec. 2. Open meetings.
| ||||||
5 | (a) Openness required. All meetings of public
bodies shall | ||||||
6 | be open to the public unless excepted in subsection (c)
and | ||||||
7 | closed in accordance with Section 2a.
| ||||||
8 | (b) Construction of exceptions. The exceptions contained | ||||||
9 | in subsection
(c) are in derogation of the requirement that | ||||||
10 | public bodies
meet in the open, and therefore, the exceptions | ||||||
11 | are to be strictly
construed, extending only to subjects | ||||||
12 | clearly within their scope.
The exceptions authorize but do not | ||||||
13 | require the holding of
a closed meeting to discuss a subject | ||||||
14 | included within an enumerated exception.
| ||||||
15 | (c) Exceptions. A public body may hold closed meetings to | ||||||
16 | consider the
following subjects:
| ||||||
17 | (1) The appointment, employment, compensation, | ||||||
18 | discipline, performance,
or dismissal of specific | ||||||
19 | employees of the public body or legal counsel for
the | ||||||
20 | public body, including hearing
testimony on a complaint | ||||||
21 | lodged against an employee of the public body or
against | ||||||
22 | legal counsel for the public body to determine its | ||||||
23 | validity.
| ||||||
24 | (2) Collective negotiating matters between the public | ||||||
25 | body and its
employees or their representatives, or | ||||||
26 | deliberations concerning salary
schedules for one or more | ||||||
27 | classes of employees.
| ||||||
28 | (3) The selection of a person to fill a public office,
| ||||||
29 | as defined in this Act, including a vacancy in a public | ||||||
30 | office, when the public
body is given power to appoint | ||||||
31 | under law or ordinance, or the discipline,
performance or | ||||||
32 | removal of the occupant of a public office, when the public | ||||||
33 | body
is given power to remove the occupant under law or | ||||||
34 | ordinance.
| ||||||
35 | (4) Evidence or testimony presented in open hearing, or |
| |||||||
| |||||||
1 | in closed
hearing where specifically authorized by law, to
| ||||||
2 | a quasi-adjudicative body, as defined in this Act, provided | ||||||
3 | that the body
prepares and makes available for public | ||||||
4 | inspection a written decision
setting forth its | ||||||
5 | determinative reasoning.
| ||||||
6 | (5) The purchase or lease of real property for the use | ||||||
7 | of
the public body, including meetings held for the purpose | ||||||
8 | of discussing
whether a particular parcel should be | ||||||
9 | acquired.
| ||||||
10 | (6) The setting of a price for sale or lease of | ||||||
11 | property owned
by the public body.
| ||||||
12 | (7) The sale or purchase of securities, investments, or | ||||||
13 | investment
contracts.
| ||||||
14 | (8) Security procedures and the use of personnel and
| ||||||
15 | equipment to respond to an actual, a threatened, or a | ||||||
16 | reasonably
potential danger to the safety of employees, | ||||||
17 | students, staff, the public, or
public
property.
| ||||||
18 | (9) Student disciplinary cases.
| ||||||
19 | (10) The placement of individual students in special | ||||||
20 | education
programs and other matters relating to | ||||||
21 | individual students.
| ||||||
22 | (11) Litigation, when an action against, affecting or | ||||||
23 | on behalf of the
particular public body has been filed and | ||||||
24 | is pending before a court or
administrative tribunal, or | ||||||
25 | when the public body finds that an action is
probable or | ||||||
26 | imminent, in which case the basis for the finding shall be
| ||||||
27 | recorded and entered into the minutes of the closed | ||||||
28 | meeting.
| ||||||
29 | (12) The establishment of reserves or settlement of | ||||||
30 | claims as provided
in the Local Governmental and | ||||||
31 | Governmental Employees Tort Immunity Act, if
otherwise the | ||||||
32 | disposition of a claim or potential claim might be
| ||||||
33 | prejudiced, or the review or discussion of claims, loss or | ||||||
34 | risk management
information, records, data, advice or | ||||||
35 | communications from or with respect
to any insurer of the | ||||||
36 | public body or any intergovernmental risk management
|
| |||||||
| |||||||
1 | association or self insurance pool of which the public body | ||||||
2 | is a member.
| ||||||
3 | (13) Conciliation of complaints of discrimination in | ||||||
4 | the sale or rental
of housing, when closed meetings are | ||||||
5 | authorized by the law or ordinance
prescribing fair housing | ||||||
6 | practices and creating a commission or
administrative | ||||||
7 | agency for their enforcement.
| ||||||
8 | (14) Informant sources, the hiring or assignment of | ||||||
9 | undercover personnel
or equipment, or ongoing, prior or | ||||||
10 | future criminal investigations, when
discussed by a public | ||||||
11 | body with criminal investigatory responsibilities.
| ||||||
12 | (15) Professional ethics or performance when | ||||||
13 | considered by an advisory
body appointed to advise a | ||||||
14 | licensing or regulatory agency on matters
germane to the | ||||||
15 | advisory body's field of competence.
| ||||||
16 | (16) Self evaluation, practices and procedures or | ||||||
17 | professional ethics,
when meeting with a representative of | ||||||
18 | a statewide association of which the
public body is a | ||||||
19 | member.
| ||||||
20 | (17) The recruitment, credentialing, discipline or | ||||||
21 | formal peer review
of physicians or other
health care | ||||||
22 | professionals for a hospital, or
other institution | ||||||
23 | providing medical care, that is operated by the public | ||||||
24 | body.
| ||||||
25 | (18) Deliberations for decisions of the Prisoner | ||||||
26 | Review Board.
| ||||||
27 | (19) Review or discussion of applications received | ||||||
28 | under the
Experimental Organ Transplantation Procedures | ||||||
29 | Act.
| ||||||
30 | (20) The classification and discussion of matters | ||||||
31 | classified as
confidential or continued confidential by | ||||||
32 | the State Employees Suggestion Award
Board.
| ||||||
33 | (21) Discussion of minutes of meetings lawfully closed | ||||||
34 | under this Act,
whether for purposes of approval by the | ||||||
35 | body of the minutes or semi-annual
review of the minutes as | ||||||
36 | mandated by Section 2.06.
|
| |||||||
| |||||||
1 | (22) Deliberations for decisions of the State
| ||||||
2 | Emergency Medical Services Disciplinary
Review Board.
| ||||||
3 | (23) The operation by a municipality of a municipal | ||||||
4 | utility or the
operation of a
municipal power agency or | ||||||
5 | municipal natural gas agency when the
discussion involves | ||||||
6 | (i) contracts relating to the
purchase, sale, or delivery | ||||||
7 | of electricity or natural gas or (ii) the results
or | ||||||
8 | conclusions of load forecast studies.
| ||||||
9 | (24) Meetings of a residential health care facility | ||||||
10 | resident sexual
assault and death review
team or
the | ||||||
11 | Residential Health Care Facility Resident Sexual Assault | ||||||
12 | and Death Review
Teams Executive
Council under the | ||||||
13 | Residential Health Care Facility Resident Sexual Assault | ||||||
14 | and
Death Review
Team Act.
| ||||||
15 | (25) Discussions of the Illinois Regenerative Medicine | ||||||
16 | Institute Oversight Committee or its advisory panels that | ||||||
17 | involve (i) personally identifiable information relating | ||||||
18 | to patients or medical subjects or (ii) matters concerning | ||||||
19 | confidential intellectual property and confidential | ||||||
20 | scientific research or data.
| ||||||
21 | (d) Definitions. For purposes of this Section:
| ||||||
22 | "Employee" means a person employed by a public body whose | ||||||
23 | relationship
with the public body constitutes an | ||||||
24 | employer-employee relationship under
the usual common law | ||||||
25 | rules, and who is not an independent contractor.
| ||||||
26 | "Public office" means a position created by or under the
| ||||||
27 | Constitution or laws of this State, the occupant of which is | ||||||
28 | charged with
the exercise of some portion of the sovereign | ||||||
29 | power of this State. The term
"public office" shall include | ||||||
30 | members of the public body, but it shall not
include | ||||||
31 | organizational positions filled by members thereof, whether
| ||||||
32 | established by law or by a public body itself, that exist to | ||||||
33 | assist the
body in the conduct of its business.
| ||||||
34 | "Quasi-adjudicative body" means an administrative body | ||||||
35 | charged by law or
ordinance with the responsibility to conduct | ||||||
36 | hearings, receive evidence or
testimony and make |
| |||||||
| |||||||
1 | determinations based
thereon, but does not include
local | ||||||
2 | electoral boards when such bodies are considering petition | ||||||
3 | challenges.
| ||||||
4 | (e) Final action. No final action may be taken at a closed | ||||||
5 | meeting.
Final action shall be preceded by a public recital of | ||||||
6 | the nature of the
matter being considered and other information | ||||||
7 | that will inform the
public of the business being conducted.
| ||||||
8 | (Source: P.A. 93-57, eff. 7-1-03; 93-79, eff. 7-2-03; 93-422, | ||||||
9 | eff. 8-5-03;
93-577, eff. 8-21-03; revised 9-8-03.)
| ||||||
10 | Section 90-5. The Election Code is amended by adding | ||||||
11 | Article 28A as follows: | ||||||
12 | (10 ILCS 5/Art. 28A heading new)
| ||||||
13 | ARTICLE 28A
| ||||||
14 | DEBT REFERENDA
| ||||||
15 | (10 ILCS 5/28A-5 new)
| ||||||
16 | Sec. 28A-5. Legislative intent. Section 9(b) of Article IX | ||||||
17 | of the Illinois Constitution provides that State debt may be | ||||||
18 | incurred "as may be provided either in a law passed by the vote | ||||||
19 | of three-fifths of the members elected to each house of the | ||||||
20 | General Assembly or in a law approved by a majority of the | ||||||
21 | electors voting on the question at the next general election | ||||||
22 | following passage." This amendatory Act of the 94th General | ||||||
23 | Assembly provides the statutory framework for the incurring of | ||||||
24 | State debt through the approval of a law in a referendum. | ||||||
25 | (10 ILCS 5/28A-10 new)
| ||||||
26 | Sec. 28A-10. General election law. To the extent not | ||||||
27 | inconsistent with this Act, the general election law shall | ||||||
28 | govern referendums held pursuant to Section 9(b) of Article IX | ||||||
29 | of the Illinois Constitution. | ||||||
30 | (10 ILCS 5/28A-15 new)
| ||||||
31 | Sec. 28A-15. Question. The law passed by the General |
| |||||||
| |||||||
1 | Assembly shall provide for the form of the question to be | ||||||
2 | submitted to the electors as it will appear on the ballot. | ||||||
3 | (10 ILCS 5/28A-20 new)
| ||||||
4 | Sec. 28A-20. Limit on number of questions inapplicable. The | ||||||
5 | limitation on the number of public questions contained in | ||||||
6 | Section 28-1 of this Code shall not apply to questions | ||||||
7 | submitted pursuant to Section 9(b) of Article IX of the | ||||||
8 | Constitution. | ||||||
9 | (10 ILCS 5/28A-25 new)
| ||||||
10 | Sec. 28A-25. Certification. Not less than 67 days before | ||||||
11 | the general election, the State Board of Elections shall | ||||||
12 | certify all questions submitted pursuant to Section 9(b) of | ||||||
13 | Article IX of the Illinois Constitution to the respective | ||||||
14 | county clerks. Not less than 61 days before the general | ||||||
15 | election, the county clerk shall certify such question or | ||||||
16 | questions to the board of election commissioners, if any, in | ||||||
17 | his or her county. The certification shall include the form of | ||||||
18 | the question or questions to be placed on the ballot. | ||||||
19 | (10 ILCS 5/28A-30 new)
| ||||||
20 | Sec. 28A-30. Notice. It is the duty of the election | ||||||
21 | authority to have the questions published and posted at the | ||||||
22 | same time, in the same manner, and at the same places that | ||||||
23 | sample ballots and instructions to voters are required by law | ||||||
24 | to be posted. | ||||||
25 | (10 ILCS 5/28A-35 new)
| ||||||
26 | Sec. 28A-35. Votes; canvassing; returns. The votes cast for | ||||||
27 | and against the question or questions shall be by the judges of | ||||||
28 | such election received, canvassed, and returned to the county | ||||||
29 | clerks of their respective counties, at the same time and in | ||||||
30 | the same manner as the votes cast at the election for members | ||||||
31 | of the General Assembly are by law required to be received, | ||||||
32 | canvassed, and returned to the clerks. The clerks shall prepare |
| |||||||
| |||||||
1 | and transmit to the State Board of Elections an abstract of the | ||||||
2 | votes at the same time and in the same manner as the votes cast | ||||||
3 | at the election for members of the General Assembly are by law | ||||||
4 | required to be abstracted and transmitted. | ||||||
5 | (10 ILCS 5/28A-40 new)
| ||||||
6 | Sec. 28A-40. Proclamation. The State Board of Elections | ||||||
7 | shall canvass the votes given for and against the question or | ||||||
8 | questions in the same manner as it canvasses the votes cast | ||||||
9 | upon amendments to the Illinois Constitution, and if it appears | ||||||
10 | that a majority of the electors voting on any question have | ||||||
11 | voted for the question, the State Board shall declare that | ||||||
12 | question approved and the Governor shall cause a proclamation | ||||||
13 | to be made of the result of the vote, which proclamation shall | ||||||
14 | be filed with the Secretary of State.
| ||||||
15 | Section 90-10. The State Finance Act is amended by adding | ||||||
16 | Sections 5.640, 6z-100, and 6z-105 as follows: | ||||||
17 | (30 ILCS 105/5.640 new)
| ||||||
18 | Sec. 5.640. The Regenerative Medicine Bond Fund. | ||||||
19 | (30 ILCS 105/6z-100 new)
| ||||||
20 | Sec. 6z-100. The Cosmetic Medical Procedure Utilization | ||||||
21 | Tax Fund. | ||||||
22 | (a) The Cosmetic Medical Procedure Utilization Tax Fund is | ||||||
23 | created as a special fund in the State Treasury. | ||||||
24 | (b) Subject to the transfer provisions set forth in this | ||||||
25 | Section, money in the Cosmetic Medical Procedure Utilization | ||||||
26 | Tax Fund shall, if and when bonds are issued pursuant to | ||||||
27 | Section 6.5 of the General Obligation Bond Act, be transferred | ||||||
28 | to the General Obligation Bond Retirement and Interest Fund. | ||||||
29 | In addition to other transfers to the General Obligation | ||||||
30 | Bond Retirement and Interest Fund made pursuant to Section 15 | ||||||
31 | of the General Obligation Bond Act, upon each issuance of bonds | ||||||
32 | under Section 6.5 of the General Obligation Bond Act, the State |
| |||||||
| |||||||
1 | Comptroller shall compute and certify to the State Treasurer | ||||||
2 | the total amount of principal of, interest on, and premium, if | ||||||
3 | any, on such bonds during the then current and each succeeding | ||||||
4 | fiscal year. With respect to the interest payable on variable | ||||||
5 | rate bonds, such certifications shall be calculated at the | ||||||
6 | maximum rate of interest that may be payable during the fiscal | ||||||
7 | year, after taking into account any credits permitted in the | ||||||
8 | related indenture or other instrument against the amount of | ||||||
9 | such interest required to be appropriated for that period. | ||||||
10 | On or before the last day of each month, the State | ||||||
11 | Treasurer and State Comptroller shall transfer from the | ||||||
12 | Cosmetic Medical Procedure Utilization Tax Fund to the General | ||||||
13 | Obligation Bond Retirement and Interest Fund an amount | ||||||
14 | sufficient to pay the aggregate of the principal of, interest | ||||||
15 | on, and premium, if any, on the bonds payable on their next | ||||||
16 | payment date, divided by the number of monthly transfers | ||||||
17 | occurring between the last previous payment date (or the | ||||||
18 | delivery date if no payment date has yet occurred) and the next | ||||||
19 | succeeding payment date, plus any deficiency accumulated from a | ||||||
20 | preceding month. Interest payable on variable rate bonds shall | ||||||
21 | be calculated at the maximum rate of interest that may be | ||||||
22 | payable for the relevant period, after taking into account any | ||||||
23 | credits permitted in the related indenture or other instrument | ||||||
24 | against the amount of such interest required to be appropriated | ||||||
25 | for that period. | ||||||
26 | (c) Any surplus, as determined by the Comptroller, in the | ||||||
27 | Cosmetic Medical Procedure Utilization Tax Fund after the | ||||||
28 | payment of principal and interest on bonded indebtedness then | ||||||
29 | annually due and after paying any refunds due to taxpayers | ||||||
30 | under the Cosmetic Medical Procedure Utilization Tax Act shall, | ||||||
31 | subject to appropriation, be used to pay the expenses of the | ||||||
32 | Illinois Regenerative Medicine Institute in administering | ||||||
33 | programs under the Illinois Regenerative Medicine Institute | ||||||
34 | Creation Act or pay for any grants and loans under the Illinois | ||||||
35 | Regenerative Medicine Institute Creation Act. Funds remaining | ||||||
36 | after the payment of principal and interest on bonds issued |
| |||||||
| |||||||
1 | under Section 6.5 of the General Obligation Bond Act then | ||||||
2 | annually due and after paying any refunds due to taxpayers | ||||||
3 | under the Cosmetic Medical Procedure Utilization Tax Act shall | ||||||
4 | not be considered surplus if such funds are reasonably required | ||||||
5 | for future payments of principal and interest on bonds issued | ||||||
6 | under Section 6.5 of the General Obligation Bond Act. The State | ||||||
7 | Treasurer and State Comptroller shall transfer the surplus to | ||||||
8 | the Regenerative Medicine Institute Operations Fund. | ||||||
9 | (d) Investment income that is attributable to the | ||||||
10 | investment of moneys of the Cosmetic Medical Procedure | ||||||
11 | Utilization Tax Fund shall be retained in that fund. Moneys in | ||||||
12 | this Fund shall not be transferred to the General Revenue Fund | ||||||
13 | for any purposes other than those outlined in this Section.
| ||||||
14 | (30 ILCS 105/6z-105 new)
| ||||||
15 | Sec. 6z-105. Regenerative Medicine Institute Operations | ||||||
16 | Fund. | ||||||
17 | (a) The Regenerative Medicine Institute Operations Fund is | ||||||
18 | created as a special fund in the State Treasury. | ||||||
19 | (b) The following items of income for the Illinois | ||||||
20 | Institute for Regenerative Medicine shall be deposited into the | ||||||
21 | Fund: funds received pursuant to the Cosmetic Medical Procedure | ||||||
22 | Utilization Tax Act; the fees charged by the institute; | ||||||
23 | payments received as repayment of loans made by the institute; | ||||||
24 | funds received in connection with the retention, receipt, | ||||||
25 | assignment, license, sale or transfer of interests in, rights | ||||||
26 | to, or income from discoveries, inventions, patents, or | ||||||
27 | copyrightable works; donations, monetary gifts, or other | ||||||
28 | financial assistance from private sources of individuals; and | ||||||
29 | any other funds appropriated or transferred into the Fund. | ||||||
30 | (c) Pursuant to appropriation the institute may use those | ||||||
31 | funds for activities and purposes provided in the Illinois | ||||||
32 | Regenerative Medicine Institute Creation Act, including | ||||||
33 | activities and operations of the institute. Further, the | ||||||
34 | Oversight Committee of the Illinois Institute for Regenerative | ||||||
35 | Medicine may request that the Comptroller and the Treasurer |
| |||||||
| |||||||
1 | transfer funds from the Regenerative Medicine Institute | ||||||
2 | Operations Fund to the Cosmetic Medical Procedure Utilization | ||||||
3 | Tax Fund in order to pay debt service on bonds issued pursuant | ||||||
4 | to the Illinois Regenerative Medicine Institute Act. | ||||||
5 | (d) Investment income that is attributable to the | ||||||
6 | investment of moneys of the Regenerative Medicine Institute | ||||||
7 | Operations Fund shall be retained in the Fund.
| ||||||
8 | Section 90-15. The General Obligation Bond Act is amended | ||||||
9 | by changing Sections 2, 12, and 19 and by adding Section 6.5 as | ||||||
10 | follows:
| ||||||
11 | (30 ILCS 330/2) (from Ch. 127, par. 652)
| ||||||
12 | Sec. 2. Authorization for Bonds. The State of Illinois is | ||||||
13 | authorized to
issue, sell and provide for the retirement of | ||||||
14 | General Obligation Bonds of
the State of Illinois for the | ||||||
15 | categories and specific purposes expressed in
Sections 2 | ||||||
16 | through 8 of this Act, in the total amount of $28,658,149,369
| ||||||
17 | $27,658,149,369 .
| ||||||
18 | The bonds authorized in this Section 2 and in Section 16 of | ||||||
19 | this Act are
herein called "Bonds".
| ||||||
20 | Of the total amount of Bonds authorized in this Act, up to | ||||||
21 | $2,200,000,000
in aggregate original principal amount may be | ||||||
22 | issued and sold in accordance
with the Baccalaureate Savings | ||||||
23 | Act in the form of General Obligation
College Savings Bonds.
| ||||||
24 | Of the total amount of Bonds authorized in this Act, up to | ||||||
25 | $300,000,000 in
aggregate original principal amount may be | ||||||
26 | issued and sold in accordance
with the Retirement Savings Act | ||||||
27 | in the form of General Obligation
Retirement Savings Bonds.
| ||||||
28 | Of the total amount of Bonds authorized in this Act, the | ||||||
29 | additional
$10,000,000,000 authorized by this amendatory Act | ||||||
30 | of the 93rd General
Assembly shall be used solely as provided | ||||||
31 | in Section 7.2.
| ||||||
32 | The issuance and sale of Bonds pursuant to the General | ||||||
33 | Obligation Bond
Act is an economical and efficient method of | ||||||
34 | financing the long-term capital needs of
the State. This Act |
| |||||||
| |||||||
1 | will permit the issuance of a multi-purpose General
Obligation | ||||||
2 | Bond with uniform terms and features. This will not only lower
| ||||||
3 | the cost of registration but also reduce the overall cost of | ||||||
4 | issuing debt
by improving the marketability of Illinois General | ||||||
5 | Obligation Bonds.
| ||||||
6 | (Source: P.A. 92-13, eff. 6-22-01; 92-596, eff. 6-28-02; | ||||||
7 | 92-598, eff. 6-28-02; 93-2, eff. 4-7-03; 93-839, eff. 7-30-04.)
| ||||||
8 | (30 ILCS 330/6.5 new)
| ||||||
9 | Sec. 6.5. Illinois Regenerative Medicine Research Funding. | ||||||
10 | The amount of $1,000,000,000 for grants and loans to facilities | ||||||
11 | is authorized pursuant to the Illinois Regenerative Medicine | ||||||
12 | Institute Creation Act and for the making of deposits into the | ||||||
13 | Regenerative Medicine Institute Operations Fund for the making | ||||||
14 | of loans. The bonds shall be issued in an aggregate original | ||||||
15 | principal amount (excluding the amount of any bonds issued to | ||||||
16 | refund or advance refund bonds issued under the Illinois | ||||||
17 | Regenerative Medicine Institute Act) not to exceed | ||||||
18 | $100,000,000 per fiscal year, except that this $100,000,000 per | ||||||
19 | fiscal year limit may be increased by the difference between | ||||||
20 | the cumulative total of the $100,000,000 limits for all prior | ||||||
21 | fiscal years and the cumulative aggregate original principal | ||||||
22 | amount (excluding the amount of any bonds issued to refund or | ||||||
23 | advance refund bonds issued under the Illinois Regenerative | ||||||
24 | Medicine Institute Act) of bonds issued during all prior fiscal | ||||||
25 | years.
| ||||||
26 | (30 ILCS 330/12) (from Ch. 127, par. 662)
| ||||||
27 | Sec. 12. Allocation of Proceeds from Sale of Bonds.
| ||||||
28 | (a) Proceeds from the sale of Bonds, authorized by Section | ||||||
29 | 3 of this Act,
shall be deposited in the separate fund known as | ||||||
30 | the Capital Development Fund.
| ||||||
31 | (b) Proceeds from the sale of Bonds, authorized by | ||||||
32 | paragraph (a) of Section
4 of this Act, shall be deposited in | ||||||
33 | the separate fund known as the
Transportation Bond, Series A | ||||||
34 | Fund.
|
| |||||||
| |||||||
1 | (c) Proceeds from the sale of Bonds, authorized by | ||||||
2 | paragraphs (b) and (c)
of Section 4 of this Act, shall be | ||||||
3 | deposited in the separate fund known
as the Transportation | ||||||
4 | Bond, Series B Fund.
| ||||||
5 | (d) Proceeds from the sale of Bonds, authorized by Section | ||||||
6 | 5 of this
Act, shall be deposited in the separate fund known as | ||||||
7 | the School Construction
Fund.
| ||||||
8 | (e) Proceeds from the sale of Bonds, authorized by Section | ||||||
9 | 6 of this Act,
shall be deposited in the separate fund known as | ||||||
10 | the Anti-Pollution Fund.
| ||||||
11 | (e-5) Proceeds from the sale of bonds, authorized by | ||||||
12 | Section 6.5 of this Act, shall be deposited into the separate | ||||||
13 | fund known as the Regenerative Medicine Bond Fund.
| ||||||
14 | (f) Proceeds from the sale of Bonds, authorized by Section | ||||||
15 | 7 of this Act,
shall be deposited in the separate fund known as | ||||||
16 | the Coal Development Fund.
| ||||||
17 | (f-2) Proceeds from the sale of Bonds, authorized by | ||||||
18 | Section 7.2 of this
Act, shall be deposited as set forth in | ||||||
19 | Section 7.2.
| ||||||
20 | (f-5) Proceeds from the sale of Bonds, authorized by | ||||||
21 | Section 7.5 of this
Act, shall be deposited as set forth in | ||||||
22 | Section 7.5.
| ||||||
23 | (g) Proceeds from the sale of Bonds, authorized by Section | ||||||
24 | 8 of this Act,
shall be deposited in
the Capital Development | ||||||
25 | Fund.
| ||||||
26 | (h) Subsequent to the issuance of any Bonds for the | ||||||
27 | purposes described
in Sections 2 through 8 of this Act, the | ||||||
28 | Governor and the Director of the
Governor's Office of | ||||||
29 | Management and Budget
Bureau of the Budget may provide for the | ||||||
30 | reallocation of unspent proceeds
of such Bonds to any other | ||||||
31 | purposes authorized under said Sections of this
Act, subject to | ||||||
32 | the limitations on aggregate principal amounts contained
| ||||||
33 | therein. Upon any such reallocation, such unspent proceeds | ||||||
34 | shall be
transferred to the appropriate funds as determined by | ||||||
35 | reference to
paragraphs (a) through (g) of this Section.
| ||||||
36 | (Source: P.A. 92-596, eff. 6-28-02; 93-2, eff. 4-7-03; revised |
| |||||||
| |||||||
1 | 8-23-03.)
| ||||||
2 | (30 ILCS 330/19) (from Ch. 127, par. 669)
| ||||||
3 | Sec. 19. Investment of Money Not Needed for Current
| ||||||
4 | Expenditures - Application of Earnings.
| ||||||
5 | (a) The State Treasurer may, with the Governor's approval, | ||||||
6 | invest and
reinvest any money from the Capital Development | ||||||
7 | Fund, the Transportation
Bond, Series A Fund, the | ||||||
8 | Transportation Bond, Series B Fund, the School
Construction | ||||||
9 | Fund, the Anti-Pollution Fund, the Coal Development Fund , the | ||||||
10 | Regenerative Medicine Bond Fund, and
the General Obligation | ||||||
11 | Bond Retirement and Interest Fund, in the State
Treasury, which | ||||||
12 | is not needed for current expenditures due or about to
become | ||||||
13 | due from these funds.
| ||||||
14 | (b) Monies received from the sale or redemption of | ||||||
15 | investments from the
Transportation Bond, Series A Fund shall | ||||||
16 | be deposited by the State
Treasurer in the Road Fund.
| ||||||
17 | Monies received from the sale or redemption of investments | ||||||
18 | from the
Capital Development Fund, the Transportation Bond, | ||||||
19 | Series B Fund, the School
Construction Fund, the Anti-Pollution | ||||||
20 | Fund, and the Coal Development Fund
shall be deposited by the | ||||||
21 | State Treasurer in the General Revenue Fund.
| ||||||
22 | Moneys received from the sale or redemption of investments | ||||||
23 | from the Regenerative Medicine Bond Fund shall be deposited by | ||||||
24 | the State Treasurer into the Cosmetic Medical Procedure | ||||||
25 | Utilization Tax Fund.
| ||||||
26 | Monies from the sale or redemption of investments from the | ||||||
27 | General
Obligation Bond Retirement and Interest Fund shall be | ||||||
28 | deposited in the
General Obligation Bond Retirement and | ||||||
29 | Interest Fund.
| ||||||
30 | (c) Monies from the Capital Development Fund, the | ||||||
31 | Transportation Bond,
Series A Fund, the Transportation Bond, | ||||||
32 | Series B Fund, the School
Construction Fund, the Anti-Pollution | ||||||
33 | Fund, and the Coal Development Fund , and the Regenerative | ||||||
34 | Medicine Bond Fund
may be invested as permitted in "AN ACT in | ||||||
35 | relation to State moneys",
approved June 28, 1919, as amended |
| |||||||
| |||||||
1 | and in "AN ACT relating to certain
investments of public funds | ||||||
2 | by public agencies", approved July 23, 1943, as
amended. Monies | ||||||
3 | from the General Obligation Bond Retirement and Interest
Fund | ||||||
4 | may be invested in securities constituting direct obligations | ||||||
5 | of the
United States Government, or obligations, the principal | ||||||
6 | of and interest on which
are guaranteed by the United States | ||||||
7 | Government, or certificates of deposit
of any state or national | ||||||
8 | bank or savings and loan association.
For amounts not insured | ||||||
9 | by the Federal Deposit Insurance Corporation or
the Federal | ||||||
10 | Savings and Loan Insurance Corporation, as security the State
| ||||||
11 | Treasurer shall accept securities constituting direct | ||||||
12 | obligations of the
United States Government, or obligations, | ||||||
13 | the principal of and interest on
which are guaranteed by the | ||||||
14 | United States Government.
| ||||||
15 | (d) Accrued interest paid to the State at the time of the | ||||||
16 | delivery of
the Bonds shall be deposited into the General | ||||||
17 | Obligation Bond Retirement and Interest
Fund in the State | ||||||
18 | Treasury.
| ||||||
19 | (Source: P.A. 84-1248; 84-1474.)
| ||||||
20 | ARTICLE 99 | ||||||
21 | Section 99-5. Effective date. Articles 1, 15, and 99 of | ||||||
22 | this Act and the amendatory changes to the Election Code | ||||||
23 | contained in Section 90-5 of Article 90 of this Act take effect | ||||||
24 | January 1, 2006. The remainder of this Act takes effect upon | ||||||
25 | certification by the State Board of Elections by January 1, | ||||||
26 | 2007 that the question described in Section 1-15 of Article 1 | ||||||
27 | of the Illinois Regenerative Medicine Institute Act has been | ||||||
28 | approved by a majority of electors voting on that question at | ||||||
29 | the 2006 general election.
|