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New Laws for the New Year

On January 1, over two hundred new Illinois laws went into effect, including a statewide service tax, $15/hour minimum wage, website and mobile app regulations, workers' compensation reform, mandated sick leave, increases in prevailing wage, an increase in the overtime threshold, 20% gross receipt tax on financial services, and much more. The following list provides a quick view of business-related laws that will go into effect in the new year.  

Public Act 100-0486 requires an LLC to first obtain a certificate of registration before providing professional services.

Public Act 100-0269 provides for specific notice requirements from lessor to lessee regarding disposition of security deposits. The lessor must - in person or by postmarked mail - deliver receipts or costs of repairs.

Public Act 100-0090 makes participation in traveling elephant shows a Class A misdemeanor.

Public Act 100-0240 amends the Consumer Fraud and Deceptive Business Practices Act to add a non-disparagement clause in consumer contracts. 

Public Act 100-0146 abolishes the Low-Level Radioactive Waste Task Group and makes corresponding changes, including removing provisions concerning the adoption of criteria for selection of a site for a regional disposal facility.

Public Act 100-0177 allows electric co-op type cities to sell their power in the wholesale markets such as PJM and MISO.

Public Act 100-0341 authorizes the Metropolitan Water Reclamation District to participate in any nutrient trading programs in Illinois, which are market-based programs that involve the exchange of pollution allocations between sources.

Public Act 100-0333 will require mobilization payments to be made to subcontractors when a contract with IDOT provides for mobilization payments. 

Public Act 100-0376 prohibits contractors, subcontractors or material suppliers with DOT contracts from offsetting, decreasing, or diminishing payments due to subcontractors or material suppliers without reasonable cause.

Public Act 100-0551 Prohibits so-called "expatriated entities" who have engaged in corporate inversions from bidding on state contracts and prohibits the state's pension systems from investing in the stock of such companies. 

Public Act 100-0022, otherwise known as tax omnibus bill, that among other things included the new income tax rates, has provisions that are set to go into law Jan. 1 2018. While majority of the tax provisions are already in effect, two pertinent articles (Art. 15 and 17) make sweeping changes to the state's unclaimed property statutes.

Public Act 100-0437 eliminates the use tax upfront and instead applies it to the final sale, so that rental purchase companies can warehouse in Illinois and lease to multi-state clients in border communities.

Public Act 100-0328 extends the Angel Investment Tax Credit from December 31, 2016 to December 31, 2021.

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