IL HB5576

Establishes Lunar New Year as a state holiday in Illinois, defined as the date of the second new moon following the winter solstice, or the third new moon if an intercalary month intervenes.

When Lunar New Year falls on Saturday or Sunday, the following Monday shall be observed as the holiday.

Adds Lunar New Year to the list of state holidays recognized in the Election Code, Illinois Procurement Code, School Code, and Promissory Note and Bank Holiday Act.

School employees and teachers are not required to work on Lunar New Year, and no deduction shall be made from their compensation for this legal holiday.

Provides that deadlines for election materials, procurement actions, and banking transactions are extended to the next business day if they fall on Lunar New Year.