Elementary & Secondary Education Committee
Filed: 5/5/2010
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1 | AMENDMENT TO SENATE BILL 3460
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2 | AMENDMENT NO. ______. Amend Senate Bill 3460 on page 2, | ||||||
3 | immediately below line 10, by inserting the following:
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4 | " (b-5) When grants are made to non-profit corporations for | ||||||
5 | the acquisition or construction of new facilities, the Capital | ||||||
6 | Development Board or any State agency it so designates shall | ||||||
7 | hold title to the facility for a period of 10 years after the | ||||||
8 | date of the grant award, after which title to the facility | ||||||
9 | shall be transferred to the non-profit corporation, provided | ||||||
10 | that the non-profit corporation has complied with the terms of | ||||||
11 | its grant agreement. When grants are made to non-profit | ||||||
12 | corporations for the purpose of renovation or rehabilitation, | ||||||
13 | if the non-profit corporation does not comply with item (5) of | ||||||
14 | subsection (b) of this Section, the Capital Development Board | ||||||
15 | or any State agency it so designates shall recover the grant | ||||||
16 | pursuant to the procedures outlined in the Illinois Grant Funds | ||||||
17 | Recovery Act. ".
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