State of Illinois
90th General Assembly
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90_SB0860

      305 ILCS 5/4-1.11         from Ch. 23, par. 4-1.11
          Amends  the  Aid  to  Families  with  Dependent  Children
      Article of the Illinois  Public Aid Code.   Provides  that  a
      person  shall not transfer property for less than fair market
      value, removing a provision that the transfer  is  prohibited
      only  to  the  extent  required under federal law.  Effective
      immediately.
                                                     LRB9002988SMdv
                                               LRB9002988SMdv
 1        AN ACT to amend the Illinois Public Aid Code by  changing
 2    Section 4-1.11.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section 5.  The Illinois Public Aid Code  is  amended  by
 6    changing Section 4-1.11 as follows:
 7        (305 ILCS 5/4-1.11) (from Ch. 23, par. 4-1.11)
 8        Sec. 4-1.11.  Property transfers.  To the extent required
 9    under  federal  law,  A  person shall not make or have made a
10    voluntary or involuntary assignment or transfer of any  legal
11    or  equitable interests in real or personal property, whether
12    vested, contingent or inchoate, for  less  than  fair  market
13    value.
14    (Source: P.A. 88-554, eff. 7-26-94.)
15        Section  99.  Effective date.  This Act takes effect upon
16    becoming law.

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