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Full Text of HB4999  98th General Assembly

HB4999 98TH GENERAL ASSEMBLY


 


 
98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4999

 

Introduced , by Rep. Jim Durkin

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/18-1  from Ch. 122, par. 18-1

    Amends the School Code. Makes a technical change in a Section concerning the Common School Fund.


LRB098 16459 NHT 51524 b

 

 

A BILL FOR

 

HB4999LRB098 16459 NHT 51524 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
518-1 as follows:
 
6    (105 ILCS 5/18-1)  (from Ch. 122, par. 18-1)
7    Sec. 18-1. Moneys constituting fund. The The common school
8fund of the state shall consist of any sums accredited thereto
9in pursuance of law, of the interest on the school fund proper,
10which fund is 3% upon the proceeds of the sales of public lands
11in the State, 1/6 part excepted; and the interest on the
12surplus revenue distributed by Act of Congress and made part of
13the common school fund by Act of the legislature, March 4,
141837. The interest on the school fund proper and the surplus
15revenue shall be paid by the State annually at the rate of 6%,
16and shall be distributed as provided by law.
17(Source: Laws 1961, p. 31.)