Amends the Illinois Vehicle Code. Provides that a person operating a bicycle may slow to a reasonable speed of 15 miles per hour or less, or a speed limit specified by the municipality or unit of local government, without making a complete stop at intersection or stop sign, if the bicycle operator yields the right-of-way to any traffic or pedestrian in or approaching the intersection. Provides that a person operating a bicycle who approaches an illuminated red traffic-control device must first stop at the intersection and yield to all other traffic and pedestrians and then, when safe to do so, may proceed straight or make a right turn through the intersection or, subject to specified conditions, make a left turn onto a one-way street only.