HB5003 EngrossedLRB102 24000 CMG 33207 b


  
1    AN ACT concerning education.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The School Code is amended  by changing Section 
52-3.127a as follows:
 
6    (105 ILCS 5/2-3.127a)
7    Sec. 2-3.127a. The State Board of Education Special 
8Purpose Trust Fund. The State Board of Education Special 
9Purpose Trust Fund is created as a special fund in the State 
10treasury.  The State Board of Education shall deposit all 
11indirect costs recovered from federal programs into the State 
12Board of Education Special Purpose Trust Fund.  These funds may 
13be used by the State Board of Education for its ordinary and 
14contingent expenses.  Additionally and unless specifically 
15directed to be deposited into other funds, all moneys received 
16by the State Board of Education from gifts, grants, royalty 
17payments, or donations from any source, public or private, 
18shall be deposited into the State Board of Education Special 
19Purpose Trust Fund.  These funds shall be used, subject to 
20appropriation by the General Assembly, by the State Board of 
21Education for the purposes established by the gifts, grants, 
22royalty payments, or donations. Any royalty payments received 
23by the State Board of Education as a result of licensing 
 
 
HB5003 Engrossed- 2 -LRB102 24000 CMG 33207 b

1agreements or any other agreements entered into by the State 
2Board of Education, regardless of the original fund source, 
3shall be deposited into the State Board of Education Special 
4Purpose Trust Fund and, subject to appropriation by the 
5General Assembly, shall be expended in a manner consistent 
6with law.

7(Source: P.A. 94-69, eff. 7-1-05; 95-707, eff. 1-11-08.)
 
 
8    Section 99. Effective date. This Act takes effect upon 
9becoming law.