IL SB2438

Amends the Illinois Public Labor Relations Act to require arbitration panels give primary consideration to a local government employer's financial ability to fund proposals based on existing available resources, excluding assumptions about lines of credit, reserve funds, or new revenue sources.

Modifies arbitration factors for public labor disputes by separating the employer's financial ability as a distinct primary consideration and creating a new factor addressing the interests and welfare of the public.

Eliminates residency requirements from arbitration decisions involving peace officers, fire fighters, and fire department or fire district paramedics under the Illinois Public Labor Relations Act.

Amends the Illinois Educational Labor Relations Act to apply the same financial ability standard during interest arbitration for educational employers (excluding Chicago school district), requiring arbitrators to prioritize funding based on existing available resources without assumptions of new revenue sources.