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| 1 | AMENDMENT TO SENATE BILL 531
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 531 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Public Use Trust Act is amended by changing | ||||||
| 5 | Section 2 as follows:
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| 6 | (30 ILCS 160/2) (from Ch. 127, par. 4002)
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| 7 | Sec. 2.
(a) The Department of Agriculture, and the | ||||||
| 8 | Department of Natural
Resources, and the Abraham Lincoln | ||||||
| 9 | Presidential Library and Museum have the
power to enter into a | ||||||
| 10 | trust agreement with a person or group of persons under
which | ||||||
| 11 | the State agency may receive or collect money or other property | ||||||
| 12 | from the
person or group of persons and may expend such money | ||||||
| 13 | or property solely for a
public purpose within the powers and | ||||||
| 14 | duties of that State agency and stated in
the trust agreement. | ||||||
| 15 | The State agency shall be the trustee under any such
trust | ||||||
| 16 | agreement.
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| 1 | (b) Money or property received under a trust agreement | ||||||
| 2 | shall not be
deposited in the State treasury and is not subject | ||||||
| 3 | to appropriation by the
General Assembly, but shall be held and | ||||||
| 4 | invested by the trustee separate
and apart from the State | ||||||
| 5 | treasury. The trustee shall invest money or
property received | ||||||
| 6 | under a trust agreement as provided for trustees under
the | ||||||
| 7 | Trusts and Trustees Act or as otherwise provided in the trust | ||||||
| 8 | agreement.
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| 9 | (c) The trustee shall maintain detailed records of all | ||||||
| 10 | receipts and
disbursements in the same manner as required for | ||||||
| 11 | trustees under the Trusts
and Trustees Act. The trustee shall | ||||||
| 12 | provide an annual accounting of all
receipts, disbursements, | ||||||
| 13 | and inventory to all donors to the trust and the
Auditor | ||||||
| 14 | General. The annual accounting shall be made available to any
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| 15 | member of the public upon request.
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| 16 | (Source: P.A. 100-695, eff. 8-3-18.)".
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