IL HB5555

Amends the Intergovernmental Cooperation Act to include the Mid-America Intermodal Authority Port District and the Illinois Law Enforcement Alarm System as "public agencies" under the Act's definition.

Establishes a $1 annual surcharge on vehicle liability insurance policies to be collected by insurance and surety companies authorized to do business in Illinois.

Requires insurers to remit collected surcharges monthly to the Illinois Treasurer for deposit into the Illinois Law Enforcement Alarm Systems Fund.

Allocates fund revenues as follows: 72% for homeland security initiatives approved by the ILEAS Governing Board, 25% for airborne operations, and 3% to the Illinois Emergency Management Agency for fund administration.

Exempts vehicles owned by local, state, and federal government units and 501(c)(3) nonprofit organizations based in Illinois from the surcharge.