[ Back ] [ Bottom ]
91_HB1766ren
HB1766 Re-Enrolled LRB9104017NTsbA
1 AN ACT concerning community college foundations, amending
2 named Acts.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The State Finance Act is amended by adding
6 Section 5.490 as follows:
7 (30 ILCS 105/5.490 new)
8 Sec. 5.490. The Academic Improvement Trust Fund for
9 Community College Foundations.
10 Section 10. The Public Community College Act is amended
11 by adding Section 2-16.04 as follows:
12 (110 ILCS 805/2-16.04 new)
13 Sec. 2-16.04. The Academic Improvement Trust Fund for
14 Community College Foundations.
15 (a) The Academic Improvement Trust Fund for Community
16 College Foundations is created in the State treasury. All
17 moneys transferred, credited, deposited, or otherwise paid to
18 the Fund as provided in this Section shall be promptly
19 invested by the State Treasurer in accordance with law, and
20 all interest and other earnings accruing or received thereon
21 shall be credited and paid to the Fund. No moneys, interest,
22 or earnings transferred, credited, deposited, or otherwise
23 paid to the Academic Improvement Trust Fund for Community
24 College Foundations shall be transferred or allocated by the
25 Comptroller or Treasurer to any other fund, nor shall the
26 Governor authorize any such transfer or allocation, nor shall
27 any moneys, interest, or earnings transferred, credited,
28 deposited, or otherwise paid to the Fund be used, temporarily
29 or otherwise, for interfund borrowing, or be otherwise used
HB1766 Re-Enrolled -2- LRB9104017NTsbA
1 or appropriated, except to encourage private support in
2 enhancing community college foundations by providing
3 community college foundations with the opportunity to receive
4 and match challenge grants as provided in this Section.
5 (b) On the first day of fiscal year 2000 and each fiscal
6 year thereafter, or as soon thereafter as may be practicable,
7 the Comptroller shall order the transfer and the Treasurer
8 shall transfer from the General Revenue Fund to the Academic
9 Improvement Trust Fund for Community College Foundations the
10 amount of the fiscal year appropriation made to the State
11 Board for making challenge grants to community college
12 foundations as provided in this Section.
13 (c) For each fiscal year in which an appropriation and
14 transfer are made as provided in subsection (b), moneys
15 sufficient to provide each community college foundation with
16 the opportunity to match at least one $25,000 challenge grant
17 shall be reserved from moneys in the Academic Improvement
18 Trust Fund for Community College Foundations, and the balance
19 of the moneys in the Fund shall be available for matching by
20 any community college foundation. Moneys in the Academic
21 Improvement Trust Fund for Community College Foundations that
22 remain unmatched by contribution or pledge on April 1 of the
23 fiscal year in which an appropriation and transfer are made
24 as provided in subsection (b) shall also be available for
25 matching by any community college foundation, along with any
26 interest or earnings accruing to the unmatched portion of the
27 Fund. If for any fiscal year in which an appropriation and
28 transfer are made as provided in subsection (b) there are not
29 sufficient moneys which may be reserved in the Academic
30 Improvement Trust Fund for Community College Foundations to
31 provide each community college foundation with the
32 opportunity to match at least one $25,000 challenge grant,
33 the amount of the challenge grant that each community college
34 foundation shall have the opportunity to match for the fiscal
HB1766 Re-Enrolled -3- LRB9104017NTsbA
1 year shall be reduced from $25,000 to an amount equal to the
2 result obtained when the total of all moneys, interest, and
3 earnings in the Fund immediately following the appropriation
4 and transfer made for the fiscal year is divided by the
5 number of community college foundations then existing in this
6 State. The State Board shall promulgate rules prescribing
7 the form and content of applications made by community
8 college foundations for challenge grants under this Section.
9 These rules shall provide all community college foundations
10 with an opportunity to apply for challenge grants to be
11 awarded from any moneys in the Academic Improvement Trust
12 Fund for Community College Foundations in excess of the
13 moneys required to be reserved in the Fund for the purpose of
14 providing each community college foundation with the
15 opportunity to match at least one $25,000 challenge grant;
16 and the opportunity to apply for challenge grants to be
17 awarded from the excess moneys shall be afforded to all
18 community college foundations prior to awarding any challenge
19 grants from the excess moneys. No community college
20 foundation shall receive more than $100,000 in challenge
21 grants awarded from the excess moneys.
22 (d) Challenge grants shall be proportionately allocated
23 from the Academic Improvement Trust Fund for Community
24 College Foundations on the basis of matching each $2 of State
25 funds with $3 of local funds. The matching funds shall come
26 from contributions made after July 1, 1999, which are pledged
27 for the purpose of matching challenge grants. To be
28 eligible, a minimum of $10,000 must be raised from private
29 sources, and the contributions must be in excess of the total
30 average annual cash contributions made to the foundation at
31 each community college district in the 3 fiscal years before
32 July 1, 1999.
33 (e) Funds sufficient to provide the match shall be paid,
34 subject to appropriation, from the Academic Improvement Trust
HB1766 Re-Enrolled -4- LRB9104017NTsbA
1 Fund for Community College Foundations to the community
2 college foundation in increments of $5,000, after the initial
3 $10,000 is matched and released, and upon certification to
4 the Comptroller by the State Board that a proportionate
5 amount has been received and deposited by the community
6 college foundation in its own trust fund. However, no
7 community college foundation may receive more than $100,000,
8 above the original allocation, from the Academic Improvement
9 Trust Fund for Community College Foundations in any fiscal
10 year.
11 (f) The State Board shall certify, prepare, and submit
12 to the Comptroller vouchers setting forth the amount of each
13 challenge grant from time to time to be proportionately
14 allocated in accordance with this Section from the Academic
15 Improvement Trust Fund for Community College Foundations to
16 the community college foundation entitled to receive the
17 challenge grant, and the Comptroller shall cause his or her
18 warrants to be drawn for the respective amounts due, payable
19 from the Fund to the foundation.
20 (g) The board of each community college foundation shall
21 establish an academic improvement trust fund as a depository
22 for the private contributions and challenge grants allocated
23 to any such community college foundation from the Academic
24 Improvement Trust Fund for Community College Foundations.
25 Each community college foundation is responsible for the
26 maintenance, investment, and administration of its academic
27 improvement trust fund.
28 (h) The board of the community college foundation is
29 responsible for determining the uses for the proceeds of the
30 academic improvement trust fund established. Such uses may
31 include:
32 (1) scientific and technical equipment;
33 (2) professional development and training for
34 faculty; and
HB1766 Re-Enrolled -5- LRB9104017NTsbA
1 (3) student scholarships and other activities
2 appropriate to improving the quality of education at the
3 community college.
4 (i) The State Board may promulgate such additional rules
5 as are required to provide for the efficient operation and
6 administration of the challenge grant program established by
7 this Section.
8 Section 99. Effective date. This Act takes effect upon
9 becoming a law.
[ Top ]