SB2951 Summary

• Requires all public officials and members elected or appointed after the bill's effective date to complete an 8-hour continuing education program on economics within 2 years, then a 4-hour refresher every 2 years thereafter, at their own expense.

• The curriculum, developed by the Illinois Council on Economic Education and approved by the Illinois Community College Board, must focus on macroeconomic and microeconomic theories and how government financial and policy decisions affect individuals and businesses.

• Exempts officials who are currently licensed in a financial field and already required to take continuing education in accounting, economics, or finance.

• Subjects officials who fail to timely complete the training to administrative fines, and bars them from being elected or appointed to public office until they pay the fine and complete the requirement.

• Requires candidates to state in their nomination petitions that they are not barred from being elected or appointed due to violations of the continuing education requirement.