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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB4544 Introduced 1/21/2022, by Rep. Debbie Meyers-Martin SYNOPSIS AS INTRODUCED: |
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Amends the Charitable Trust Stabilization Act. Provides that moneys in the Charitable Trust Stabilization Fund may be used only for grants for the operational purposes of participating organizations (currently, may be used for start-up or operational purposes). Modifies the allocation of moneys deposited into the Fund for specified purposes. Removes provision requiring the State Treasurer to transfer specified amounts from the General Revenue Fund to the Charitable Trust Stabilization Fund. Makes conforming and other changes. Effective immediately.
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| | A BILL FOR |
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| | HB4544 | | LRB102 23443 RJF 32615 b |
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1 | | AN ACT concerning finance.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Charitable Trust Stabilization Act is |
5 | | amended by changing Section 5 as follows: |
6 | | (30 ILCS 790/5)
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7 | | Sec. 5. The Charitable Trust Stabilization Fund. |
8 | | (a) The Charitable Trust Stabilization Fund is created as |
9 | | a special fund in the State treasury. From appropriations from |
10 | | the Fund, upon recommendation from the Charitable Trust |
11 | | Stabilization Committee, the State Treasurer may make grants |
12 | | to public and private entities in the State for the purposes |
13 | | set forth under subsection (b). Special attention shall be |
14 | | given to public and private entities with operating budgets of |
15 | | less than $1,000,000 that are located within a depressed area, |
16 | | as defined under Section 3 of the Illinois Enterprise Zone |
17 | | Act, and preferences for recommending grants to the State |
18 | | Treasurer may be given to these entities by the Committee. |
19 | | Moneys received for the purposes of this Section, including, |
20 | | without limitation, fees collected under subsection (m) of |
21 | | Section 115.10 of the General Not For Profit Corporation Act |
22 | | of 1986 and appropriations, gifts, grants, and awards from any |
23 | | public or private entity, must be deposited into the Fund. Any |