Illinois General Assembly - Full Text of SB0750
Illinois General Assembly

Previous General Assemblies

Full Text of SB0750  94th General Assembly


Sen. James T. Meeks

Filed: 3/15/2005





09400SB0750sam002 SDS094 00131 KAG 30131 a


2     AMENDMENT NO. ______. Amend Senate Bill 750 by replacing
3 everything after the enacting clause with the following:
4     "Section 5. The School Code is amended by changing Section
5 18-1 as follows:
6     (105 ILCS 5/18-1)  (from Ch. 122, par. 18-1)
7     Sec. 18-1. Moneys constituting fund. The The common school
8 fund of the state shall consist of any sums accredited thereto
9 in pursuance of law, of the interest on the school fund proper,
10 which fund is 3% upon the proceeds of the sales of public lands
11 in the State, 1/6 part excepted; and the interest on the
12 surplus revenue distributed by Act of Congress and made part of
13 the common school fund by Act of the legislature, March 4,
14 1837. The interest on the school fund proper and the surplus
15 revenue shall be paid by the State annually at the rate of 6%,
16 and shall be distributed as provided by law.
17 (Source: Laws 1961, p. 31.)".