SB2962 99TH GENERAL ASSEMBLY

LRB099 19727 MLM 44125 b

99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB2962

Introduced 2/18/2016, by Sen. Sue Rezin

SYNOPSIS AS INTRODUCED:

20 ILCS 3405/36 new

Amends the Historic Preservation Agency Act. Creates the Federal Historic Sites and Preservation Services Federal Trust Fund is created as a trust fund outside the State treasury. Provides that the Trust Fund is established to receive funds from all federal departments and agencies for the specific purposes established by the terms and conditions of federal awards. Provides that funds shall be used by the Agency for administrative expenses and grants and contracts allowable under the terms and conditions of those federal awards, except that any portion of those federal awards required by federal law to be transferred by the State to local governments or other recipients shall be transferred without appropriation. Provides that moneys in the Trust Fund are not subject to appropriation. Provides that all federal assets, funds, or moneys received by the Historic Preservation Agency shall be deposited and held in the Trust Fund by the State Treasurer as ex officio custodian separate and apart from all public moneys or funds of this State and shall be administered by the Director of the Agency exclusively for the purposes set forth in the federal awards.

A BILL FOR

AN ACT concerning finance.

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

Section 5. The Historic Preservation Agency Act is amended by adding Section 36 as follows:

(20 ILCS 3405/36 new)

Sec. 36. Federal Historic Sites and Preservation Services Federal Trust Fund. The Federal Historic Sites and Preservation Services Federal Trust Fund is created as a trust fund outside the State treasury. The Trust Fund is established to receive funds from all federal departments and agencies for the specific purposes established by the terms and conditions of federal awards. Moneys in the Federal Historic Sites and Preservation Services Federal Trust Fund shall be used by the Agency for administrative expenses and grants and contracts allowable under the terms and conditions of those federal awards, except that any portion of those federal awards required by federal law to be transferred by the State to local governments or other recipients shall be transferred without appropriation. All deposits shall become part of the Trust Fund corpus. Moneys in the Trust Fund are not subject to appropriation and shall be used solely as allowed under the terms and conditions of the federal awards.

All federal assets, funds, or moneys received by the Agency shall be deposited and held in the Trust Fund by the State Treasurer as ex officio custodian separate and apart from all public moneys or funds of this State and shall be administered by the Director exclusively for the purposes set forth in the federal awards. All moneys in the Trust Fund shall be invested and reinvested by the State Treasurer. All interest accruing from these investments shall be deposited in the Trust Fund.