HB3498 100TH GENERAL ASSEMBLY

LRB100 10248 SMS 20431 b

100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3498

Introduced , by Rep. Thaddeus Jones

SYNOPSIS AS INTRODUCED:

110 ILCS 805/2-26 new
205 ILCS 5/48.7 new
205 ILCS 305/54.5 new

Amends the Public Community College Act. Provides that the Illinois Community College Board shall establish and implement a program that provides tuition to the first 1,500 students per year that enroll at each designated community college, which will be paid from the Community College Free Tuition Trust Fund. Provides that 16 community colleges shall be designated for the program for a 2-year period on a rotating schedule determined by the Illinois Community College Board. Creates the Community College Free Tuition Trust Fund as a nonappropriated trust fund to be held outside the State Treasury. Amends the Illinois Banking Act. Requires every bank under the Act to pay into the Trust Fund. Amends the Illinois Credit Union Act. Requires every credit union to pay into the Trust Fund.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning education.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Public Community College Act is amended by adding Section 2-26 as follows:

(110 ILCS 805/2-26 new)

Sec. 2-26. Free community college tuition.

(a) The State Board shall establish and implement a program that provides tuition to the first 1,500 students per year that enroll at each designated community college, which will be paid from the Community College Free Tuition Trust Fund.

(b) Sixteen community colleges shall be designated for the program for a 2-year period on a rotating schedule determined by the State Board.

(c) The State Board shall determine the amount to be collected from every bank under the Illinois Banking Act and credit union under the Illinois Credit Union Act that shall be deposited into the Community College Free Tuition Trust Fund, which is hereby created as a nonappropriated trust fund to be held outside the State Treasury.

Section 10. The Illinois Banking Act is amended by adding Section 48.7 as follows:

(205 ILCS 5/48.7 new)

Sec. 48.7. Payments to the Community College Free Tuition Trust Fund. Every bank subject to the provisions of this Act shall pay into the Community College Free Tuition Trust Fund as provided in Section 2-26 of the Public Community College Act.

Section 15. The Illinois Credit Union Act is amended by adding Section 54.5 as follows:

(205 ILCS 305/54.5 new)

Sec. 54.5. Payments to the Community College Free Tuition Trust Fund. Every credit union subject to the provisions of this Act shall pay into the Community College Free Tuition Trust Fund as provided in Section 2-26 of the Public Community College Act.