[ Home ] [ ILCS ] [ Search ] [ Bottom ]
[ Other General Assemblies ]
Public Act 91-0300
HB1151 Enrolled LRB9102027MWpc
AN ACT to amend the Park District Code by adding Section
8-8a.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Park District Code is amended by adding
Section 8-8a as follows:
(70 ILCS 1205/8-8a new)
Sec. 8-8a. Transfer of interest income. Any park
district, when requested by its treasurer, may transfer the
interest earned on any of the moneys of the district into the
fund of the district that is most in need of the interest.
This Section does not apply to any interest earned that has
been earmarked or restricted for a designated purpose. This
Section does not apply to any interest earned on any funds
for the purposes of municipal retirement under the Illinois
Pension Code and tort immunity under the Local Governmental
and Governmental Employees Tort Immunity Act. Interest
earned on these funds may be used only for the purposes
authorized for the respective funds from which the interest
earnings were derived.
Section 99. Effective date. This Act takes effect upon
becoming law.
[ Top ]