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Public Act 102-0792 |
HB5003 Enrolled | LRB102 24000 CMG 33207 b |
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AN ACT concerning education.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The School Code is amended by changing Section |
2-3.127a as follows: |
(105 ILCS 5/2-3.127a) |
Sec. 2-3.127a. The State Board of Education Special |
Purpose Trust Fund. The State Board of Education Special |
Purpose Trust Fund is created as a special fund in the State |
treasury. The State Board of Education shall deposit all |
indirect costs recovered from federal programs into the State |
Board of Education Special Purpose Trust Fund. These funds may |
be used by the State Board of Education for its ordinary and |
contingent expenses. Additionally and unless specifically |
directed to be deposited into other funds, all moneys received |
by the State Board of Education from gifts, grants, royalty |
payments, or donations from any source, public or private, |
shall be deposited into the State Board of Education Special |
Purpose Trust Fund. These funds shall be used, subject to |
appropriation by the General Assembly, by the State Board of |
Education for the purposes established by the gifts, grants, |
royalty payments, or donations. Any royalty payments received |
by the State Board of Education as a result of licensing |