Illinois General Assembly - Full Text of SB1484
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Full Text of SB1484  94th General Assembly


Sen. Richard J. Winkel Jr.

Filed: 3/15/2005





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2     AMENDMENT NO. ______. Amend Senate Bill 1484 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.)".