99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB2962

 

Introduced 2/18/2016, by Sen. Sue Rezin

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 3405/36 new

    Amends the Historic Preservation Agency Act. Creates the Federal Historic Sites and Preservation Services Federal Trust Fund is created as a trust fund outside the State treasury. Provides that the Trust Fund is established to receive funds from all federal departments and agencies for the specific purposes established by the terms and conditions of federal awards. Provides that funds shall be used by the Agency for administrative expenses and grants and contracts allowable under the terms and conditions of those federal awards, except that any portion of those federal awards required by federal law to be transferred by the State to local governments or other recipients shall be transferred without appropriation. Provides that moneys in the Trust Fund are not subject to appropriation. Provides that all federal assets, funds, or moneys received by the Historic Preservation Agency shall be deposited and held in the Trust Fund by the State Treasurer as ex officio custodian separate and apart from all public moneys or funds of this State and shall be administered by the Director of the Agency exclusively for the purposes set forth in the federal awards.


LRB099 19727 MLM 44125 b

 

 

A BILL FOR

 

SB2962LRB099 19727 MLM 44125 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Historic Preservation Agency Act is amended
5by adding Section 36 as follows:
 
6    (20 ILCS 3405/36 new)
7    Sec. 36. Federal Historic Sites and Preservation Services
8Federal Trust Fund. The Federal Historic Sites and Preservation
9Services Federal Trust Fund is created as a trust fund outside
10the State treasury. The Trust Fund is established to receive
11funds from all federal departments and agencies for the
12specific purposes established by the terms and conditions of
13federal awards. Moneys in the Federal Historic Sites and
14Preservation Services Federal Trust Fund shall be used by the
15Agency for administrative expenses and grants and contracts
16allowable under the terms and conditions of those federal
17awards, except that any portion of those federal awards
18required by federal law to be transferred by the State to local
19governments or other recipients shall be transferred without
20appropriation. All deposits shall become part of the Trust Fund
21corpus. Moneys in the Trust Fund are not subject to
22appropriation and shall be used solely as allowed under the
23terms and conditions of the federal awards.

 

 

SB2962- 2 -LRB099 19727 MLM 44125 b

1    All federal assets, funds, or moneys received by the Agency
2shall be deposited and held in the Trust Fund by the State
3Treasurer as ex officio custodian separate and apart from all
4public moneys or funds of this State and shall be administered
5by the Director exclusively for the purposes set forth in the
6federal awards. All moneys in the Trust Fund shall be invested
7and reinvested by the State Treasurer. All interest accruing
8from these investments shall be deposited in the Trust Fund.