Sen. Martin A. Sandoval

Filed: 4/7/2011

 

 


 

 


 
09700SB0337sam001LRB097 04130 NHT 54131 a

1
AMENDMENT TO SENATE BILL 337

2    AMENDMENT NO. ______. Amend Senate Bill 337 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Finance Act is amended by changing
5Sections 6a-1, 6a-1a, 6a-1b, 6a-1c, 6a-1d, 6a-1e, 6a-1f, 6a-1g,
6and 6d as follows:
 
7    (30 ILCS 105/6a-1)  (from Ch. 127, par. 142a1)
8    Sec. 6a-1. Southern Illinois University Income Fund.
9    (1) Beginning on the effective date of this amendatory Act
10of 1996, The following items of income received by the Southern
11Illinois University for general operational and educational
12purposes shall be retained by the University in its own
13treasury and credited to an account known as the University
14Income Fund that it shall establish in its treasury for
15purposes of this paragraph paid into the State Treasury without
16delay and shall be deposited into a special fund to be known as

 

 

09700SB0337sam001- 2 -LRB097 04130 NHT 54131 a

1the Southern Illinois University Income Fund: (a) tuition and
2laboratory fees not pledged to discharge obligations arising
3out of the issuance of revenue bonds, library fees, and all any
4interest which may be earned thereon not later than 20 days
5after receipt of the same without any deductions except for
6refunds to students for whom duplicate payments have been made
7and to students who have withdrawn after registration and are
8entitled to such refunds; and (b) excess income from auxiliary
9enterprises and activities as provided in paragraph (2) of this
10Section, and all other income arising out of any activity or
11purpose not specified in paragraph (2) of this Section or in
12Sections 6a-2 or 6a-3 upon not later than 10 days after receipt
13of the same without any deduction whatever. Such items of
14income shall be either paid into the State treasury or
15deposited into a college or university bank account within the
16time period established for like amounts in Section 2 of the
17State Officers and Employees Money Disposition Act. Within 10
18days after the effective date of this amendatory Act of 1996,
19all moneys then remaining in the Southern Illinois University
20Income Fund heretofore established as a special fund in the
21State treasury that were covered and paid into that fund by the
22University shall be repaid to the University upon the warrant
23of the State Comptroller, directed to the State Treasurer as an
24order to pay the sum required to be repaid under this paragraph
25and shown as due on the warrant. The University shall deposit
26the amount so repaid to it in a college or university bank

 

 

09700SB0337sam001- 3 -LRB097 04130 NHT 54131 a

1account within the time period established for like amounts in
2Section 2 of the State Officers and Employees Money Disposition
3Act, to be credited to the University Income Fund established
4by the University in its own treasury for purposes of this
5paragraph. All moneys from time to time held in the University
6Income Fund in the treasury of the University shall be used by
7the University, pursuant to the order and direction of the
8Board of Trustees of the University, for the support and
9improvement of the University, except for amounts disbursed
10from that University Income Fund for refunds to students for
11whom duplicate payment has been made and to students who have
12withdrawn after registration and who are entitled to such
13refunds ; provided, that if deposited into a bank account, such
14items together with interest thereon shall be paid into the
15State treasury as provided in the preceding sentence. The
16General Assembly shall from time to time make appropriations
17payable from such fund for the support and improvement of
18Southern Illinois University.
19    (2) The following items of income shall be retained by the
20University in its own treasury: endowment funds, gifts, trust
21funds, and Federal aid; funds received in connection with
22contracts with governmental, public, or private agencies or
23persons, for research or services including funds which are
24paid as reimbursement to the University; funds received in
25connection with reserves authorized by Section 8a of the
26Southern Illinois University Management Act; funds received in

 

 

09700SB0337sam001- 4 -LRB097 04130 NHT 54131 a

1connection with its operation of medical research and high
2technology parks and with the retention, receipt, assignment,
3license, sale or transfer of interests in, rights to, or income
4from discoveries, inventions, patents, or copyrightable works;
5funds retained by the University under the authority of
6Sections 6a-2 and 6a-3; and funds received from the operation
7of student or staff residence facilities, student and staff
8medical and health programs, Union buildings, bookstores,
9farms, stores, and other auxiliary enterprises or activities
10which are self-supporting in whole or in part. Any income
11derived from such auxiliary enterprises or activities which is
12not necessary to their support, maintenance, or development
13shall not, however, be applied to any general operational or
14educational purposes but shall be retained by the University in
15its own treasury and credited to the University Income Fund
16that it shall establish in its treasury paid into the State
17treasury as provided in paragraph (1) of this Section.
18    Whenever such funds retained by the University in its own
19treasury are deposited with a bank or savings and loan
20association and the amount of the deposit exceeds the amount of
21federal deposit insurance coverage, a bond or pledged
22securities shall be obtained. Only the types of securities
23which the State Treasurer may, in his discretion, accept for
24amounts not insured by the Federal Deposit Insurance
25Corporation or the Federal Savings and Loan Insurance
26Corporation under Section 11 of the Deposit of State Moneys

 

 

09700SB0337sam001- 5 -LRB097 04130 NHT 54131 a

1Act, may be accepted as pledged securities. The market value of
2the bond or pledged securities shall at all times be equal to
3or greater than the uninsured portion of the deposit.
4    The Auditor General shall audit or cause to be audited the
5above items of income and all other income and expenditures of
6such institution.
7    (3) The provisions of this Section, as amended by this
8amendatory Act of the 97th General Assembly, apply to moneys
9received by the University on or after July 1, 2011. Moneys
10held by the University in the University Income Fund that was
11created under this Section pursuant to Public Act 89-602 may be
12expended as authorized by that Public Act, but no additional
13moneys shall be deposited into that Fund after June 30, 2011.
14(Source: P.A. 89-602, eff. 8-2-96.)
 
15    (30 ILCS 105/6a-1a)
16    Sec. 6a-1a. Northern Illinois University Income Fund.
17    (1) Beginning on the effective date of this amendatory Act
18of 1996, The following items of income received by Northern
19Illinois University for general operational and educational
20purposes shall be retained by the University in its own
21treasury and credited to an account known as the University
22Income Fund that it shall establish in its treasury for
23purposes of this paragraph paid into the State treasury without
24delay and shall be deposited into a special fund to be known as
25the Northern Illinois University Income Fund: (a) tuition and

 

 

09700SB0337sam001- 6 -LRB097 04130 NHT 54131 a

1laboratory fees not pledged to discharge obligations arising
2out of the issuance of revenue bonds, library fees, all and any
3interest which may be earned thereon not later than 20 days
4after receipt of the same without any deductions except for
5refunds to students for whom duplicate payments have been made
6and to students who have withdrawn after registration and are
7entitled to such refunds; and (b) excess income from auxiliary
8enterprises and activities as provided in paragraph (2) of this
9Section, and all other income arising out of any activity or
10purpose not specified in paragraph (2), (3), (4) or (5) of this
11Section upon not later than 10 days after receipt of the same
12without any deduction whatever. Within 10 days after the
13effective date of this amendatory Act of 1996, all moneys then
14held in the Northern Illinois University Income Fund
15established in the State treasury that have been covered and
16paid into that fund by or on behalf of that University shall be
17repaid to the University upon the warrant of the State
18Comptroller, directed to the State Treasurer as an order to pay
19the sum required to be repaid under this paragraph and shown as
20due on the warrant. The University shall deposit the amount so
21repaid to it in a university bank account within the time
22period established for like amounts in Section 2 of the State
23Officers and Employees Money Disposition Act, to be credited to
24the University Income Fund established by the University in its
25own treasury for purposes of this paragraph. All moneys from
26time to time held in the University Income Fund in the treasury

 

 

09700SB0337sam001- 7 -LRB097 04130 NHT 54131 a

1of the University shall be used by the University, pursuant to
2the order and direction of the Board of Trustees of the
3University, for the support and improvement of the University,
4except for amounts disbursed from that University Income Fund
5for refunds to students for whom duplicate payment has been
6made and to students who have withdrawn after registration and
7who are entitled to such refunds. The General Assembly shall
8from time to time make appropriations payable from such fund
9for the support and improvement of Northern Illinois
10University.
11    (2) The following items of income shall be retained by the
12University in its own treasury: endowment funds, gifts, trust
13funds, and Federal aid; funds received in connection with
14contracts with governmental, public, or private agencies or
15persons, for research or services including funds which are
16paid as reimbursement to the University; funds received in
17connection with reserves authorized by Section 30-60 of the
18Northern Illinois University Law; funds received in connection
19with its operation of research and high technology parks and
20with the retention, receipt, assignment, license, sale or
21transfer of interests in, rights to, or income from
22discoveries, inventions, patents, or copyrightable works;
23funds retained by the University under the authority of
24paragraph (3), (4) or (5) of this Section; and funds received
25from the operation of student or staff residence facilities,
26student and staff medical and health programs, Union buildings,

 

 

09700SB0337sam001- 8 -LRB097 04130 NHT 54131 a

1bookstores, farms, stores, and other auxiliary enterprises or
2activities which are self-supporting in whole or in part. Any
3income derived from such auxiliary enterprises or activities
4which is not necessary to their support, maintenance, or
5development shall not, however, be applied to any general
6operational or educational purposes but shall be retained by
7the University in its own treasury and credited to the
8University Income Fund that it shall establish in its treasury
9paid into the State treasury as provided in paragraph (1) of
10this Section.
11    (3) The Board of Trustees of Northern Illinois University
12may retain in its treasury any funds derived from rentals,
13service charges and laboratory and building service charges or
14other sources, assessed or obtained for or arising out of the
15operation of any building or buildings or structure or
16structures and pledged to discharge obligations created in
17order to complete or operate such building or structure, or for
18the payment of revenue bonds issued for such University by the
19Teachers College Board, the Board of Governors of State
20Colleges and Universities, the Board of Regents, or the Board
21of Trustees of Northern Illinois University, such funds to be
22disbursed from time to time pursuant to the order and direction
23of the Board of Trustees of Northern Illinois University, and
24in accordance with any contracts, pledges, trusts or agreements
25heretofore made with respect thereto by the Teachers College
26Board, the Board of Governors of State Colleges and

 

 

09700SB0337sam001- 9 -LRB097 04130 NHT 54131 a

1Universities or the Board of Regents, or hereafter made by the
2Board of Trustees of Northern Illinois University.
3    (4) The Board of Trustees of Northern Illinois University
4may also retain in its treasury, out of student fees and
5tuition, such sums annually as the Board determines are
6necessary to supplement revenue derived from any building or
7buildings constructed or acquired on or after the effective
8date of this amendatory Act of 1995, or to supplement revenues
9derived from any building or buildings having bonds outstanding
10thereon which bonds have heretofore been issued for the
11University by the Teachers College Board, the Board of
12Governors of State Colleges and Universities or the Board of
13Regents and which bonds are refunded under the provisions of
14the Act under which they were issued or under the provisions of
15any other law of this State authorizing the refunding of such
16bonds, and may pledge or by resolution may make a supplementary
17allocation of the funds so retained out of students' fees and
18tuition for the retirement of such bonds as may be issued under
19any such Act or law. Such funds as are so pledged shall
20annually be credited to the account to which the pledge
21applies. Such funds as are supplementarily allocated by Board
22resolution subsequent to the resolution creating the bonds
23shall be credited in accordance with the terms of the
24resolution making such supplementary allocation to the account
25to which the allocation applies. The Board may authorize such
26supplementation only after a determination by it that the

 

 

09700SB0337sam001- 10 -LRB097 04130 NHT 54131 a

1maximum revenues which may reasonably and economically be
2derived from the operation of a building proposed to be
3constructed or acquired under the Act under which the bonds
4therefor are issued will be insufficient to meet the costs of
5operation and maintenance and to pay the principal of and
6interest on bonds so issued for such building, or after a
7determination by it that the maximum revenues which may
8reasonably and economically be derived from the operation of a
9building already constructed or acquired under the Act under
10which the bonds therefor were issued are or will be
11insufficient to meet the costs of operation and maintenance and
12to pay the principal of and interest on bonds issued for such
13building. In no event shall the supplementation from University
14income be in excess of an amount which, when added to the
15revenues to be derived from the operation of the building or
16buildings, will be sufficient to meet the annual debt service
17requirements on the bonds issued in respect to such building or
18buildings, the annual cost of maintenance or operation of such
19building or buildings, and to provide for such reserves,
20accounts or covenants which the resolution authorizing the
21issuing of such bonds may require.
22    (5) The Board of Trustees of Northern Illinois University
23may also retain in its treasury (a) all moneys received from
24the sale of all bonds issued under the Northern Illinois
25University Revenue Bond Law, (b) all fees, rentals and other
26charges from students, staff members and others using or being

 

 

09700SB0337sam001- 11 -LRB097 04130 NHT 54131 a

1served by, or having the right to use or the right to be served
2by, or to operate any project acquired under the Northern
3Illinois University Revenue Bond Law, (c) all tuition,
4registration, matriculation, health, hospital, medical,
5laboratory, admission, student activities, student services,
6and all other fees collected from students matriculated,
7registered or otherwise enrolled at and attending the
8University pledged under the terms of any resolution
9authorizing bonds, or authorizing a supplemental allocation of
10fees for debt service of bonds theretofore issued pursuant to
11the Northern Illinois University Revenue Bond Law, and (d) all
12rentals from any facility or building acquired under the
13Northern Illinois University Revenue Bond Law and leased to the
14United States of America.
15    (6) Whenever funds retained by the University in its own
16treasury as provided in this Section are deposited with a bank
17or savings and loan association and the amount of the deposit
18exceeds the amount of federal deposit insurance coverage, a
19bond or pledged securities shall be obtained. Only the types of
20securities which the State Treasurer may, in his discretion,
21accept for amounts not insured by the Federal Deposit Insurance
22Corporation or the Federal Savings and Loan Insurance
23Corporation under Section 11 of the Deposit of State Moneys Act
24may be accepted as pledged securities. The market value of the
25bond or pledged securities shall at all times be equal to or
26greater than the uninsured portion of the deposit.

 

 

09700SB0337sam001- 12 -LRB097 04130 NHT 54131 a

1    (7) The Auditor General shall audit or cause to be audited
2all items of income referred to in this Section and all other
3income and expenditures of the University.
4    (8) The provisions of this Section, as amended by this
5amendatory Act of the 97th General Assembly, apply to moneys
6received by the University on or after July 1, 2011. Moneys
7held by the University in the University Income Fund that was
8created under this Section pursuant to Public Act 89-602 may be
9expended as authorized by that Public Act, but no additional
10moneys shall be deposited into that Fund after June 30, 2011.
11(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
12    (30 ILCS 105/6a-1b)
13    Sec. 6a-1b. Illinois State University Income Fund.
14    (1) Beginning on the effective date of this amendatory Act
15of 1996, The following items of income received by Illinois
16State University for general operational and educational
17purposes shall be retained by the University in its own
18treasury and credited to an account known as the University
19Income Fund that it shall establish in its treasury for
20purposes of this paragraph paid into the State treasury without
21delay and shall be deposited into a special fund to be known as
22the Illinois State University Income Fund: (a) tuition and
23laboratory fees not pledged to discharge obligations arising
24out of the issuance of revenue bonds, library fees, and all any
25interest which may be earned thereon not later than 20 days

 

 

09700SB0337sam001- 13 -LRB097 04130 NHT 54131 a

1after receipt of the same without any deductions except for
2refunds to students for whom duplicate payments have been made
3and to students who have withdrawn after registration and are
4entitled to such refunds; and (b) excess income from auxiliary
5enterprises and activities as provided in paragraph (2) of this
6Section, and all other income arising out of any activity or
7purpose not specified in paragraph (2), (3), (4) or (5) of this
8Section upon not later than 10 days after receipt of the same
9without any deduction whatever. Within 10 days after the
10effective date of this amendatory Act of 1996, all moneys then
11held in the Illinois State University Income Fund established
12in the State treasury that have been covered and paid into that
13fund by or on behalf of that University shall be repaid to the
14University upon the warrant of the State Comptroller, directed
15to the State Treasurer as an order to pay the sum required to
16be repaid under this paragraph and shown as due on the warrant.
17The University shall deposit the amount so repaid to it in a
18university bank account within the time period established for
19like amounts in Section 2 of the State Officers and Employees
20Money Disposition Act, to be credited to the University Income
21Fund established by the University in its own treasury for
22purposes of this paragraph. All moneys from time to time held
23in the University Income Fund in the treasury of the University
24shall be used by the University, pursuant to the order and
25direction of the Board of Trustees of the University, for the
26support and improvement of the University, except for amounts

 

 

09700SB0337sam001- 14 -LRB097 04130 NHT 54131 a

1disbursed from that University Income Fund for refunds to
2students for whom duplicate payment has been made and to
3students who have withdrawn after registration and who are
4entitled to such refunds. The General Assembly shall from time
5to time make appropriations payable from such fund for the
6support and improvement of Illinois State University.
7    (2) The following items of income shall be retained by the
8University in its own treasury: endowment funds, gifts, trust
9funds, and Federal aid; funds received in connection with
10contracts with governmental, public, or private agencies or
11persons, for research or services including funds which are
12paid as reimbursement to the University; funds received in
13connection with reserves authorized by Section 20-60 of the
14Illinois State University Law; funds received in connection
15with its operation of research and high technology parks and
16with the retention, receipt, assignment, license, sale or
17transfer of interests in, rights to, or income from
18discoveries, inventions, patents, or copyrightable works;
19funds retained by the University under the authority of
20paragraph (3), (4) or (5) of this Section; and funds received
21from the operation of student or staff residence facilities,
22student and staff medical and health programs, Union buildings,
23bookstores, farms, stores, and other auxiliary enterprises or
24activities which are self-supporting in whole or in part. Any
25income derived from such auxiliary enterprises or activities
26which is not necessary to their support, maintenance, or

 

 

09700SB0337sam001- 15 -LRB097 04130 NHT 54131 a

1development shall not, however, be applied to any general
2operational or educational purposes but shall be retained by
3the University in its own treasury and credited to the
4University Income Fund that it shall establish in its treasury
5paid into the State treasury as provided in paragraph (1) of
6this Section.
7    (3) The Board of Trustees of Illinois State University may
8retain in its treasury any funds derived from rentals, service
9charges and laboratory and building service charges or other
10sources, assessed or obtained for or arising out of the
11operation of any building or buildings or structure or
12structures and pledged to discharge obligations created in
13order to complete or operate such building or structure, or for
14the payment of revenue bonds issued for such University by the
15Teachers College Board, the Board of Governors of State
16Colleges and Universities, the Board of Regents, or the Board
17of Trustees of Illinois State University, such funds to be
18disbursed from time to time pursuant to the order and direction
19of the Board of Trustees of Northern Illinois University, and
20in accordance with any contracts, pledges, trusts or agreements
21heretofore made with respect thereto by the Teachers College
22Board, the Board of Governors of State Colleges and
23Universities or the Board of Regents, or hereafter made by the
24Board of Trustees of Illinois State University.
25    (4) The Board of Trustees of Illinois State University may
26also retain in its treasury, out of student fees and tuition,

 

 

09700SB0337sam001- 16 -LRB097 04130 NHT 54131 a

1such sums annually as the Board determines are necessary to
2supplement revenue derived from any building or buildings
3constructed or acquired on or after the effective date of this
4amendatory Act of 1995, or to supplement revenues derived from
5any building or buildings having bonds outstanding thereon
6which bonds have heretofore been issued for the University by
7the Teachers College Board, the Board of Governors of State
8Colleges and Universities or the Board of Regents and which
9bonds are refunded under the provisions of the Act under which
10they were issued or under the provisions of any other law of
11this State authorizing the refunding of such bonds, and may
12pledge or by resolution may make a supplementary allocation of
13the funds so retained out of students' fees and tuition for the
14retirement of such bonds as may be issued under any such Act or
15law. Such funds as are so pledged shall annually be credited to
16the account to which the pledge applies. Such funds as are
17supplementarily allocated by Board resolution subsequent to
18the resolution creating the bonds shall be credited in
19accordance with the terms of the resolution making such
20supplementary allocation to the account to which the allocation
21applies. The Board may authorize such supplementation only
22after a determination by it that the maximum revenues which may
23reasonably and economically be derived from the operation of a
24building proposed to be constructed or acquired under the Act
25under which the bonds therefor are issued will be insufficient
26to meet the costs of operation and maintenance and to pay the

 

 

09700SB0337sam001- 17 -LRB097 04130 NHT 54131 a

1principal of and interest on bonds so issued for such building,
2or after a determination by it that the maximum revenues which
3may reasonably and economically be derived from the operation
4of a building already constructed or acquired under the Act
5under which the bonds therefor were issued are or will be
6insufficient to meet the costs of operation and maintenance and
7to pay the principal of and interest on bonds issued for such
8building. In no event shall the supplementation from University
9income be in excess of an amount which, when added to the
10revenues to be derived from the operation of the building or
11buildings, will be sufficient to meet the annual debt service
12requirements on the bonds issued in respect to such building or
13buildings, the annual cost of maintenance or operation of such
14building or buildings, and to provide for such reserves,
15accounts or covenants which the resolution authorizing the
16issuing of such bonds may require.
17    (5) The Board of Trustees of Illinois State University may
18also retain in its treasury (a) all moneys received from the
19sale of all bonds issued under the Illinois State University
20Revenue Bond Law, (b) all fees, rentals and other charges from
21students, staff members and others using or being served by, or
22having the right to use or the right to be served by, or to
23operate any project acquired under the Illinois State
24University Revenue Bond Law, (c) all tuition, registration,
25matriculation, health, hospital, medical, laboratory,
26admission, student activities, student services, and all other

 

 

09700SB0337sam001- 18 -LRB097 04130 NHT 54131 a

1fees collected from students matriculated, registered or
2otherwise enrolled at and attending the University pledged
3under the terms of any resolution authorizing bonds, or
4authorizing a supplemental allocation of fees for debt service
5of bonds theretofore issued pursuant to the Illinois State
6University Revenue Bond Law, and (d) all rentals from any
7facility or building acquired under the Illinois State
8University Revenue Bond Law and leased to the United States of
9America.
10    (6) Whenever funds retained by the University in its own
11treasury as provided in this Section are deposited with a bank
12or savings and loan association and the amount of the deposit
13exceeds the amount of federal deposit insurance coverage, a
14bond or pledged securities shall be obtained. Only the types of
15securities which the State Treasurer may, in his discretion,
16accept for amounts not insured by the Federal Deposit Insurance
17Corporation or the Federal Savings and Loan Insurance
18Corporation under Section 11 of the Deposit of State Moneys Act
19may be accepted as pledged securities. The market value of the
20bond or pledged securities shall at all times be equal to or
21greater than the uninsured portion of the deposit.
22    (7) The Auditor General shall audit or cause to be audited
23all items of income referred to in this Section and all other
24income and expenditures of the University.
25    (8) The provisions of this Section, as amended by this
26amendatory Act of the 97th General Assembly, apply to moneys

 

 

09700SB0337sam001- 19 -LRB097 04130 NHT 54131 a

1received by the University on or after July 1, 2011. Moneys
2held by the University in the University Income Fund that was
3created under this Section pursuant to Public Act 89-602 may be
4expended as authorized by that Public Act, but no additional
5moneys shall be deposited into that Fund after June 30, 2011.
6(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
7    (30 ILCS 105/6a-1c)
8    Sec. 6a-1c. Chicago State University Income Fund.
9    (1) Beginning on the effective date of this amendatory Act
10of 1996, The following items of income received by Chicago
11State University for general operational and educational
12purposes shall be retained by the University in its own
13treasury and credited to an account known as the University
14Income Fund that it shall establish in its treasury for
15purposes of this paragraph paid into the State treasury without
16delay and shall be deposited into a special fund to be known as
17the Chicago State University Income Fund: (a) tuition and
18laboratory fees not pledged to discharge obligations arising
19out of the issuance of revenue bonds, library fees, and all any
20interest which may be earned thereon not later than 20 days
21after receipt of the same without any deductions except for
22refunds to students for whom duplicate payments have been made
23and to students who have withdrawn after registration and are
24entitled to such refunds; and (b) excess income from auxiliary
25enterprises and activities as provided in paragraph (2) of this

 

 

09700SB0337sam001- 20 -LRB097 04130 NHT 54131 a

1Section, and all other income arising out of any activity or
2purpose not specified in paragraph (2), (3), (4) or (5) of this
3Section upon not later than 10 days after receipt of the same
4without any deduction whatever. Within 10 days after the
5effective date of this amendatory Act of 1996, all moneys then
6held in the Chicago State University Income Fund established in
7the State treasury that have been covered and paid into that
8fund by or on behalf of that University shall be repaid to the
9University upon the warrant of the State Comptroller, directed
10to the State Treasurer as an order to pay the sum required to
11be repaid under this paragraph and shown as due on the warrant.
12The University shall deposit the amount so repaid to it in a
13university bank account within the time period established for
14like amounts in Section 2 of the State Officers and Employees
15Money Disposition Act, to be credited to the University Income
16Fund established by the University in its own treasury for
17purposes of this paragraph. All moneys from time to time held
18in the University Income Fund in the treasury of the University
19shall be used by the University, pursuant to the order and
20direction of the Board of Trustees of the University, for the
21support and improvement of the University, except for amounts
22disbursed from that University Income Fund for refunds to
23students for whom duplicate payment has been made and to
24students who have withdrawn after registration and who are
25entitled to such refunds. The General Assembly shall from time
26to time make appropriations payable from such fund for the

 

 

09700SB0337sam001- 21 -LRB097 04130 NHT 54131 a

1support and improvement of Chicago State University.
2    (2) The following items of income shall be retained by the
3University in its own treasury: endowment funds, gifts, trust
4funds, and Federal aid; funds received in connection with
5contracts with governmental, public, or private agencies or
6persons, for research or services including funds which are
7paid as reimbursement to the University; funds received in
8connection with reserves authorized by Section 5-60 of the
9Chicago State University Law; funds received in connection with
10its operation of research and high technology parks and with
11the retention, receipt, assignment, license, sale or transfer
12of interests in, rights to, or income from discoveries,
13inventions, patents, or copyrightable works; funds retained by
14the University under the authority of paragraph (3), (4) or (5)
15of this Section; and funds received from the operation of
16student or staff residence facilities, student and staff
17medical and health programs, Union buildings, bookstores,
18farms, stores, and other auxiliary enterprises or activities
19which are self-supporting in whole or in part. Any income
20derived from such auxiliary enterprises or activities which is
21not necessary to their support, maintenance, or development
22shall not, however, be applied to any general operational or
23educational purposes but shall be retained by the University in
24its own treasury and credited to the University Income Fund
25that it shall establish in its treasury paid into the State
26treasury as provided in paragraph (1) of this Section.

 

 

09700SB0337sam001- 22 -LRB097 04130 NHT 54131 a

1    (3) The Board of Trustees of Chicago State University may
2retain in its treasury any funds derived from rentals, service
3charges and laboratory and building service charges or other
4sources, assessed or obtained for or arising out of the
5operation of any building or buildings or structure or
6structures and pledged to discharge obligations created in
7order to complete or operate such building or structure, or for
8the payment of revenue bonds issued for such University by the
9Teachers College Board, the Board of Governors of State
10Colleges and Universities or the Board of Trustees of Chicago
11State University, such funds to be disbursed from time to time
12pursuant to the order and direction of the Board of Trustees of
13Chicago State University, and in accordance with any contracts,
14pledges, trusts or agreements heretofore made with respect
15thereto by the Teachers College Board or the Board of Governors
16of State Colleges and Universities, or hereafter made by the
17Board of Trustees of Chicago State University.
18    (4) The Board of Trustees of Chicago State University may
19also retain in its treasury, out of student fees and tuition,
20such sums annually as the Board determines are necessary to
21supplement revenue derived from any building or buildings
22constructed or acquired on or after the effective date of this
23amendatory Act of 1995, or to supplement revenues derived from
24any building or buildings having bonds outstanding thereon
25which bonds have heretofore been issued for the University by
26the Teachers College Board or the Board of Governors of State

 

 

09700SB0337sam001- 23 -LRB097 04130 NHT 54131 a

1Colleges and Universities and which bonds are refunded under
2the provisions of the Act under which they were issued or under
3the provisions of any other law of this State authorizing the
4refunding of such bonds, and may pledge or by resolution may
5make a supplementary allocation of the funds so retained out of
6students' fees and tuition for the retirement of such bonds as
7may be issued under any such Act or law. Such funds as are so
8pledged shall annually be credited to the account to which the
9pledge applies. Such funds as are supplementarily allocated by
10Board resolution subsequent to the resolution creating the
11bonds shall be credited in accordance with the terms of the
12resolution making such supplementary allocation to the account
13to which the allocation applies. The Board may authorize such
14supplementation only after a determination by it that the
15maximum revenues which may reasonably and economically be
16derived from the operation of a building proposed to be
17constructed or acquired under the Act under which the bonds
18therefor are issued will be insufficient to meet the costs of
19operation and maintenance and to pay the principal of and
20interest on bonds so issued for such building, or after a
21determination by it that the maximum revenues which may
22reasonably and economically be derived from the operation of a
23building already constructed or acquired under the Act under
24which the bonds therefor were issued are or will be
25insufficient to meet the costs of operation and maintenance and
26to pay the principal of and interest on bonds issued for such

 

 

09700SB0337sam001- 24 -LRB097 04130 NHT 54131 a

1building. In no event shall the supplementation from University
2income be in excess of an amount which, when added to the
3revenues to be derived from the operation of the building or
4buildings, will be sufficient to meet the annual debt service
5requirements on the bonds issued in respect to such building or
6buildings, the annual cost of maintenance or operation of such
7building or buildings, and to provide for such reserves,
8accounts or covenants which the resolution authorizing the
9issuing of such bonds may require.
10    (5) The Board of Trustees of Chicago State University may
11also retain in its treasury (a) all moneys received from the
12sale of all bonds issued under the Chicago State University
13Revenue Bond Law, (b) all fees, rentals and other charges from
14students, staff members and others using or being served by, or
15having the right to use or the right to be served by, or to
16operate any project acquired under the Chicago State University
17Revenue Bond Law, (c) all tuition, registration,
18matriculation, health, hospital, medical, laboratory,
19admission, student activities, student services, and all other
20fees collected from students matriculated, registered or
21otherwise enrolled at and attending the University pledged
22under the terms of any resolution authorizing bonds, or
23authorizing a supplemental allocation of fees for debt service
24of bonds theretofore issued pursuant to the Chicago State
25University Revenue Bond Law, and (d) all rentals from any
26facility or building acquired under the Chicago State

 

 

09700SB0337sam001- 25 -LRB097 04130 NHT 54131 a

1University Revenue Bond Law and leased to the United States of
2America.
3    (6) Whenever funds retained by the University in its own
4treasury as provided in this Section are deposited with a bank
5or savings and loan association and the amount of the deposit
6exceeds the amount of federal deposit insurance coverage, a
7bond or pledged securities shall be obtained. Only the types of
8securities which the State Treasurer may, in his discretion,
9accept for amounts not insured by the Federal Deposit Insurance
10Corporation or the Federal Savings and Loan Insurance
11Corporation under Section 11 of the Deposit of State Moneys Act
12may be accepted as pledged securities. The market value of the
13bond or pledged securities shall at all times be equal to or
14greater than the uninsured portion of the deposit.
15    (7) The Auditor General shall audit or cause to be audited
16all items of income referred to in this Section and all other
17income and expenditures of the University.
18    (8) The provisions of this Section, as amended by this
19amendatory Act of the 97th General Assembly, apply to moneys
20received by the University on or after July 1, 2011. Moneys
21held by the University in the University Income Fund that was
22created under this Section pursuant to Public Act 89-602 may be
23expended as authorized by that Public Act, but no additional
24moneys shall be deposited into that Fund after June 30, 2011.
25(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 

 

 

09700SB0337sam001- 26 -LRB097 04130 NHT 54131 a

1    (30 ILCS 105/6a-1d)
2    Sec. 6a-1d. Eastern Illinois University Income Fund.
3    (1) Beginning on the effective date of this amendatory Act
4of 1996, The following items of income received by Eastern
5Illinois University for general operational and educational
6purposes shall be retained by the University in its own
7treasury and credited to an account known as the University
8Income Fund that it shall establish in its treasury for
9purposes of this paragraph paid into the State treasury without
10delay and shall be deposited into a special fund to be known as
11the Eastern Illinois University Income Fund: (a) tuition and
12laboratory fees not pledged to discharge obligations arising
13out of the issuance of revenue bonds, library fees, and all any
14interest which may be earned thereon not later than 20 days
15after receipt of the same without any deductions except for
16refunds to students for whom duplicate payments have been made
17and to students who have withdrawn after registration and are
18entitled to such refunds; and (b) excess income from auxiliary
19enterprises and activities as provided in paragraph (2) of this
20Section, and all other income arising out of any activity or
21purpose not specified in paragraph (2), (3), (4) or (5) of this
22Section upon not later than 10 days after receipt of the same
23without any deduction whatever. Within 10 days after the
24effective date of this amendatory Act of 1996, all moneys then
25held in the Eastern Illinois University Income Fund established
26in the State treasury that have been covered and paid into that

 

 

09700SB0337sam001- 27 -LRB097 04130 NHT 54131 a

1fund by or on behalf of that University shall be repaid to the
2University upon the warrant of the State Comptroller, directed
3to the State Treasurer as an order to pay the sum required to
4be repaid under this paragraph and shown as due on the warrant.
5The University shall deposit the amount so repaid to it in a
6university bank account within the time period established for
7like amounts in Section 2 of the State Officers and Employees
8Money Disposition Act, to be credited to the University Income
9Fund established by the University in its own treasury for
10purposes of this paragraph. All moneys from time to time held
11in the University Income Fund in the treasury of the University
12shall be used by the University, pursuant to the order and
13direction of the Board of Trustees of the University, for the
14support and improvement of the University, except for amounts
15disbursed from that University Income Fund for refunds to
16students for whom duplicate payment has been made and to
17students who have withdrawn after registration and who are
18entitled to such refunds. The General Assembly shall from time
19to time make appropriations payable from such fund for the
20support and improvement of Eastern Illinois University.
21    (2) The following items of income shall be retained by the
22University in its own treasury: endowment funds, gifts, trust
23funds, and Federal aid; funds received in connection with
24contracts with governmental, public, or private agencies or
25persons, for research or services including funds which are
26paid as reimbursement to the University; funds received in

 

 

09700SB0337sam001- 28 -LRB097 04130 NHT 54131 a

1connection with reserves authorized by Section 10-60 of the
2Eastern Illinois University Law; funds received in connection
3with its operation of research and high technology parks and
4with the retention, receipt, assignment, license, sale or
5transfer of interests in, rights to, or income from
6discoveries, inventions, patents, or copyrightable works;
7funds retained by the University under the authority of
8paragraph (3), (4) or (5) of this Section; and funds received
9from the operation of student or staff residence facilities,
10student and staff medical and health programs, Union buildings,
11bookstores, farms, stores, and other auxiliary enterprises or
12activities which are self-supporting in whole or in part. Any
13income derived from such auxiliary enterprises or activities
14which is not necessary to their support, maintenance, or
15development shall not, however, be applied to any general
16operational or educational purposes but shall be retained by
17the University in its own treasury and credited to the
18University Income Fund that it shall establish in its treasury
19paid into the State treasury as provided in paragraph (1) of
20this Section.
21    (3) The Board of Trustees of Eastern Illinois University
22may retain in its treasury any funds derived from rentals,
23service charges and laboratory and building service charges or
24other sources, assessed or obtained for or arising out of the
25operation of any building or buildings or structure or
26structures and pledged to discharge obligations created in

 

 

09700SB0337sam001- 29 -LRB097 04130 NHT 54131 a

1order to complete or operate such building or structure, or for
2the payment of revenue bonds issued for such University by the
3Teachers College Board, the Board of Governors of State
4Colleges and Universities or the Board of Trustees of Eastern
5Illinois University, such funds to be disbursed from time to
6time pursuant to the order and direction of the Board of
7Trustees of Eastern Illinois University, and in accordance with
8any contracts, pledges, trusts or agreements heretofore made
9with respect thereto by the Teachers College Board or the Board
10of Governors of State Colleges and Universities, or hereafter
11made by the Board of Trustees of Eastern Illinois University.
12    (4) The Board of Trustees of Eastern Illinois University
13may also retain in its treasury, out of student fees and
14tuition, such sums annually as the Board determines are
15necessary to supplement revenue derived from any building or
16buildings constructed or acquired on or after the effective
17date of this amendatory Act of 1995, or to supplement revenues
18derived from any building or buildings having bonds outstanding
19thereon which bonds have heretofore been issued for the
20University by the Teachers College Board or the Board of
21Governors of State Colleges and Universities and which bonds
22are refunded under the provisions of the Act under which they
23were issued or under the provisions of any other law of this
24State authorizing the refunding of such bonds, and may pledge
25or by resolution may make a supplementary allocation of the
26funds so retained out of students' fees and tuition for the

 

 

09700SB0337sam001- 30 -LRB097 04130 NHT 54131 a

1retirement of such bonds as may be issued under any such Act or
2law. Such funds as are so pledged shall annually be credited to
3the account to which the pledge applies. Such funds as are
4supplementarily allocated by Board resolution subsequent to
5the resolution creating the bonds shall be credited in
6accordance with the terms of the resolution making such
7supplementary allocation to the account to which the allocation
8applies. The Board may authorize such supplementation only
9after a determination by it that the maximum revenues which may
10reasonably and economically be derived from the operation of a
11building proposed to be constructed or acquired under the Act
12under which the bonds therefor are issued will be insufficient
13to meet the costs of operation and maintenance and to pay the
14principal of and interest on bonds so issued for such building,
15or after a determination by it that the maximum revenues which
16may reasonably and economically be derived from the operation
17of a building already constructed or acquired under the Act
18under which the bonds therefor were issued are or will be
19insufficient to meet the costs of operation and maintenance and
20to pay the principal of and interest on bonds issued for such
21building. In no event shall the supplementation from University
22income be in excess of an amount which, when added to the
23revenues to be derived from the operation of the building or
24buildings, will be sufficient to meet the annual debt service
25requirements on the bonds issued in respect to such building or
26buildings, the annual cost of maintenance or operation of such

 

 

09700SB0337sam001- 31 -LRB097 04130 NHT 54131 a

1building or buildings, and to provide for such reserves,
2accounts or covenants which the resolution authorizing the
3issuing of such bonds may require.
4    (5) The Board of Trustees of Eastern Illinois University
5may also retain in its treasury (a) all moneys received from
6the sale of all bonds issued under the Eastern Illinois
7University Revenue Bond Law, (b) all fees, rentals and other
8charges from students, staff members and others using or being
9served by, or having the right to use or the right to be served
10by, or to operate any project acquired under the Eastern
11Illinois University Revenue Bond Law, (c) all tuition,
12registration, matriculation, health, hospital, medical,
13laboratory, admission, student activities, student services,
14and all other fees collected from students matriculated,
15registered or otherwise enrolled at and attending the
16University pledged under the terms of any resolution
17authorizing bonds, or authorizing a supplemental allocation of
18fees for debt service of bonds theretofore issued pursuant to
19the Eastern Illinois University Revenue Bond Law, and (d) all
20rentals from any facility or building acquired under the
21Eastern Illinois University Revenue Bond Law and leased to the
22United States of America.
23    (6) Whenever funds retained by the University in its own
24treasury as provided in this Section are deposited with a bank
25or savings and loan association and the amount of the deposit
26exceeds the amount of federal deposit insurance coverage, a

 

 

09700SB0337sam001- 32 -LRB097 04130 NHT 54131 a

1bond or pledged securities shall be obtained. Only the types of
2securities which the State Treasurer may, in his discretion,
3accept for amounts not insured by the Federal Deposit Insurance
4Corporation or the Federal Savings and Loan Insurance
5Corporation under Section 11 of the Deposit of State Moneys Act
6may be accepted as pledged securities. The market value of the
7bond or pledged securities shall at all times be equal to or
8greater than the uninsured portion of the deposit.
9    (7) The Auditor General shall audit or cause to be audited
10all items of income referred to in this Section and all other
11income and expenditures of the University.
12    (8) The provisions of this Section, as amended by this
13amendatory Act of the 97th General Assembly, apply to moneys
14received by the University on or after July 1, 2011. Moneys
15held by the University in the University Income Fund that was
16created under this Section pursuant to Public Act 89-602 may be
17expended as authorized by that Public Act, but no additional
18moneys shall be deposited into that Fund after June 30, 2011.
19(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
20    (30 ILCS 105/6a-1e)
21    Sec. 6a-1e. Governors State University Income Fund.
22    (1) Beginning on the effective date of this amendatory Act
23of 1996, The following items of income received by Governors
24State University for general operational and educational
25purposes shall be retained by the University in its own

 

 

09700SB0337sam001- 33 -LRB097 04130 NHT 54131 a

1treasury and credited to an account known as the University
2Income Fund that it shall establish in its treasury for
3purposes of this paragraph paid into the State treasury without
4delay and shall be deposited into a special fund to be known as
5the Governors State University Income Fund: (a) tuition and
6laboratory fees not pledged to discharge obligations arising
7out of the issuance of revenue bonds, library fees, and all any
8interest which may be earned thereon not later than 20 days
9after receipt of the same without any deductions except for
10refunds to students for whom duplicate payments have been made
11and to students who have withdrawn after registration and are
12entitled to such refunds; and (b) excess income from auxiliary
13enterprises and activities as provided in paragraph (2) of this
14Section, and all other income arising out of any activity or
15purpose not specified in paragraph (2), (3), (4) or (5) of this
16Section upon not later than 10 days after receipt of the same
17without any deduction whatever. Within 10 days after the
18effective date of this amendatory Act of 1996, all moneys then
19held in the Governors State University Income Fund established
20in the State treasury that have been covered and paid into that
21fund by or on behalf of that University shall be repaid to the
22University upon the warrant of the State Comptroller, directed
23to the State Treasurer as an order to pay the sum required to
24be repaid under this paragraph and shown as due on the warrant.
25The University shall deposit the amount so repaid to it in a
26university bank account within the time period established for

 

 

09700SB0337sam001- 34 -LRB097 04130 NHT 54131 a

1like amounts in Section 2 of the State Officers and Employees
2Money Disposition Act, to be credited to the University Income
3Fund established by the University in its own treasury for
4purposes of this paragraph. All moneys from time to time held
5in the University Income Fund in the treasury of the University
6shall be used by the University, pursuant to the order and
7direction of the Board of Trustees of the University, for the
8support and improvement of the University, except for amounts
9disbursed from that University Income Fund for refunds to
10students for whom duplicate payment has been made and to
11students who have withdrawn after registration and who are
12entitled to such refunds. The General Assembly shall from time
13to time make appropriations payable from such fund for the
14support and improvement of Governors State University.
15    (2) The following items of income shall be retained by the
16University in its own treasury: endowment funds, gifts, trust
17funds, and Federal aid; funds received in connection with
18contracts with governmental, public, or private agencies or
19persons, for research or services including funds which are
20paid as reimbursement to the University; funds received in
21connection with reserves authorized by Section 15-60 of the
22Governors State University Law; funds received in connection
23with its operation of research and high technology parks and
24with the retention, receipt, assignment, license, sale or
25transfer of interests in, rights to, or income from
26discoveries, inventions, patents, or copyrightable works;

 

 

09700SB0337sam001- 35 -LRB097 04130 NHT 54131 a

1funds retained by the University under the authority of
2paragraph (3), (4) or (5) of this Section; and funds received
3from the operation of student or staff residence facilities,
4student and staff medical and health programs, Union buildings,
5bookstores, farms, stores, and other auxiliary enterprises or
6activities which are self-supporting in whole or in part. Any
7income derived from such auxiliary enterprises or activities
8which is not necessary to their support, maintenance, or
9development shall not, however, be applied to any general
10operational or educational purposes but shall be retained by
11the University in its own treasury and credited to the
12University Income Fund that it shall establish in its treasury
13paid into the State treasury as provided in paragraph (1) of
14this Section.
15    (3) The Board of Trustees of Governors State University may
16retain in its treasury any funds derived from rentals, service
17charges and laboratory and building service charges or other
18sources, assessed or obtained for or arising out of the
19operation of any building or buildings or structure or
20structures and pledged to discharge obligations created in
21order to complete or operate such building or structure, or for
22the payment of revenue bonds issued for such University by the
23Teachers College Board, the Board of Governors of State
24Colleges and Universities or the Board of Trustees of Governors
25State University, such funds to be disbursed from time to time
26pursuant to the order and direction of the Board of Trustees of

 

 

09700SB0337sam001- 36 -LRB097 04130 NHT 54131 a

1Governors State University, and in accordance with any
2contracts, pledges, trusts or agreements heretofore made with
3respect thereto by the Teachers College Board or the Board of
4Governors of State Colleges and Universities, or hereafter made
5by the Board of Trustees of Governors State University.
6    (4) The Board of Trustees of Governors State University may
7also retain in its treasury, out of student fees and tuition,
8such sums annually as the Board determines are necessary to
9supplement revenue derived from any building or buildings
10constructed or acquired on or after the effective date of this
11amendatory Act of 1995, or to supplement revenues derived from
12any building or buildings having bonds outstanding thereon
13which bonds have heretofore been issued for the University by
14the Teachers College Board or the Board of Governors of State
15Colleges and Universities and which bonds are refunded under
16the provisions of the Act under which they were issued or under
17the provisions of any other law of this State authorizing the
18refunding of such bonds, and may pledge or by resolution may
19make a supplementary allocation of the funds so retained out of
20students' fees and tuition for the retirement of such bonds as
21may be issued under any such Act or law. Such funds as are so
22pledged shall annually be credited to the account to which the
23pledge applies. Such funds as are supplementarily allocated by
24Board resolution subsequent to the resolution creating the
25bonds shall be credited in accordance with the terms of the
26resolution making such supplementary allocation to the account

 

 

09700SB0337sam001- 37 -LRB097 04130 NHT 54131 a

1to which the allocation applies. The Board may authorize such
2supplementation only after a determination by it that the
3maximum revenues which may reasonably and economically be
4derived from the operation of a building proposed to be
5constructed or acquired under the Act under which the bonds
6therefor are issued will be insufficient to meet the costs of
7operation and maintenance and to pay the principal of and
8interest on bonds so issued for such building, or after a
9determination by it that the maximum revenues which may
10reasonably and economically be derived from the operation of a
11building already constructed or acquired under the Act under
12which the bonds therefor were issued are or will be
13insufficient to meet the costs of operation and maintenance and
14to pay the principal of and interest on bonds issued for such
15building. In no event shall the supplementation from University
16income be in excess of an amount which, when added to the
17revenues to be derived from the operation of the building or
18buildings, will be sufficient to meet the annual debt service
19requirements on the bonds issued in respect to such building or
20buildings, the annual cost of maintenance or operation of such
21building or buildings, and to provide for such reserves,
22accounts or covenants which the resolution authorizing the
23issuing of such bonds may require.
24    (5) The Board of Trustees of Governors State University may
25also retain in its treasury (a) all moneys received from the
26sale of all bonds issued under the Governors State University

 

 

09700SB0337sam001- 38 -LRB097 04130 NHT 54131 a

1Revenue Bond Law, (b) all fees, rentals and other charges from
2students, staff members and others using or being served by, or
3having the right to use or the right to be served by, or to
4operate any project acquired under the Governors State
5University Revenue Bond Law, (c) all tuition, registration,
6matriculation, health, hospital, medical, laboratory,
7admission, student activities, student services, and all other
8fees collected from students matriculated, registered or
9otherwise enrolled at and attending the University pledged
10under the terms of any resolution authorizing bonds, or
11authorizing a supplemental allocation of fees for debt service
12of bonds theretofore issued pursuant to the Governors State
13University Revenue Bond Law, and (d) all rentals from any
14facility or building acquired under the Governors State
15University Revenue Bond Law and leased to the United States of
16America.
17    (6) Whenever funds retained by the University in its own
18treasury as provided in this Section are deposited with a bank
19or savings and loan association and the amount of the deposit
20exceeds the amount of federal deposit insurance coverage, a
21bond or pledged securities shall be obtained. Only the types of
22securities which the State Treasurer may, in his discretion,
23accept for amounts not insured by the Federal Deposit Insurance
24Corporation or the Federal Savings and Loan Insurance
25Corporation under Section 11 of the Deposit of State Moneys Act
26may be accepted as pledged securities. The market value of the

 

 

09700SB0337sam001- 39 -LRB097 04130 NHT 54131 a

1bond or pledged securities shall at all times be equal to or
2greater than the uninsured portion of the deposit.
3    (7) The Auditor General shall audit or cause to be audited
4all items of income referred to in this Section and all other
5income and expenditures of the University.
6    (8) The provisions of this Section, as amended by this
7amendatory Act of the 97th General Assembly, apply to moneys
8received by the University on or after July 1, 2011. Moneys
9held by the University in the University Income Fund that was
10created under this Section pursuant to Public Act 89-602 may be
11expended as authorized by that Public Act, but no additional
12moneys shall be deposited into that Fund after June 30, 2011.
13(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
14    (30 ILCS 105/6a-1f)
15    Sec. 6a-1f. Northeastern Illinois University Income Fund.
16    (1) Beginning on the effective date of this amendatory Act
17of 1996, The following items of income received by Northeastern
18Illinois University for general operational and educational
19purposes shall be retained by the University in its own
20treasury and credited to an account known as the University
21Income Fund that it shall establish in its treasury for
22purposes of this paragraph paid into the State treasury without
23delay and shall be deposited into a special fund to be known as
24the Northeastern Illinois University Income Fund: (a) tuition
25and laboratory fees not pledged to discharge obligations

 

 

09700SB0337sam001- 40 -LRB097 04130 NHT 54131 a

1arising out of the issuance of revenue bonds, library fees, and
2all any interest which may be earned thereon not later than 20
3days after receipt of the same without any deductions except
4for refunds to students for whom duplicate payments have been
5made and to students who have withdrawn after registration and
6are entitled to such refunds; and (b) excess income from
7auxiliary enterprises and activities as provided in paragraph
8(2) of this Section, and all other income arising out of any
9activity or purpose not specified in paragraph (2), (3), (4) or
10(5) of this Section upon not later than 10 days after receipt
11of the same without any deduction whatever. Within 10 days
12after the effective date of this amendatory Act of 1996, all
13moneys then held in the Northeastern Illinois University Income
14Fund established in the State treasury that have been covered
15and paid into that fund by or on behalf of that University
16shall be repaid to the University upon the warrant of the State
17Comptroller, directed to the State Treasurer as an order to pay
18the sum required to be repaid under this paragraph and shown as
19due on the warrant. The University shall deposit the amount so
20repaid to it in a university bank account within the time
21period established for like amounts in Section 2 of the State
22Officers and Employees Money Disposition Act, to be credited to
23the University Income Fund established by the University in its
24own treasury for purposes of this paragraph. All moneys from
25time to time held in the University Income Fund in the treasury
26of the University shall be used by the University, pursuant to

 

 

09700SB0337sam001- 41 -LRB097 04130 NHT 54131 a

1the order and direction of the Board of Trustees of the
2University, for the support and improvement of the University,
3except for amounts disbursed from that University Income Fund
4for refunds to students for whom duplicate payment has been
5made and to students who have withdrawn after registration and
6who are entitled to such refunds. The General Assembly shall
7from time to time make appropriations payable from such fund
8for the support and improvement of Northeastern Illinois
9University.
10    (2) The following items of income shall be retained by the
11University in its own treasury: endowment funds, gifts, trust
12funds, and Federal aid; funds received in connection with
13contracts with governmental, public, or private agencies or
14persons, for research or services including funds which are
15paid as reimbursement to the University; funds received in
16connection with reserves authorized by Section 25-60 of the
17Northeastern Illinois University Law; funds received in
18connection with its operation of research and high technology
19parks and with the retention, receipt, assignment, license,
20sale or transfer of interests in, rights to, or income from
21discoveries, inventions, patents, or copyrightable works;
22funds retained by the University under the authority of
23paragraph (3), (4) or (5) of this Section; and funds received
24from the operation of student or staff residence facilities,
25student and staff medical and health programs, Union buildings,
26bookstores, farms, stores, and other auxiliary enterprises or

 

 

09700SB0337sam001- 42 -LRB097 04130 NHT 54131 a

1activities which are self-supporting in whole or in part. Any
2income derived from such auxiliary enterprises or activities
3which is not necessary to their support, maintenance, or
4development shall not, however, be applied to any general
5operational or educational purposes but shall be retained by
6the University in its own treasury and credited to the
7University Income Fund that it shall establish in its treasury
8paid into the State treasury as provided in paragraph (1) of
9this Section.
10    (3) The Board of Trustees of Northeastern Illinois
11University may retain in its treasury any funds derived from
12rentals, service charges and laboratory and building service
13charges or other sources, assessed or obtained for or arising
14out of the operation of any building or buildings or structure
15or structures and pledged to discharge obligations created in
16order to complete or operate such building or structure, or for
17the payment of revenue bonds issued for such University by the
18Teachers College Board, the Board of Governors of State
19Colleges and Universities or the Board of Trustees of
20Northeastern Illinois University, such funds to be disbursed
21from time to time pursuant to the order and direction of the
22Board of Trustees of Northeastern Illinois University, and in
23accordance with any contracts, pledges, trusts or agreements
24heretofore made with respect thereto by the Teachers College
25Board or the Board of Governors of State Colleges and
26Universities, or hereafter made by the Board of Trustees of

 

 

09700SB0337sam001- 43 -LRB097 04130 NHT 54131 a

1Northeastern Illinois University.
2    (4) The Board of Trustees of Northeastern Illinois
3University may also retain in its treasury, out of student fees
4and tuition, such sums annually as the Board determines are
5necessary to supplement revenue derived from any building or
6buildings constructed or acquired on or after the effective
7date of this amendatory Act of 1995, or to supplement revenues
8derived from any building or buildings having bonds outstanding
9thereon which bonds have heretofore been issued for the
10University by the Teachers College Board or the Board of
11Governors of State Colleges and Universities and which bonds
12are refunded under the provisions of the Act under which they
13were issued or under the provisions of any other law of this
14State authorizing the refunding of such bonds, and may pledge
15or by resolution may make a supplementary allocation of the
16funds so retained out of students' fees and tuition for the
17retirement of such bonds as may be issued under any such Act or
18law. Such funds as are so pledged shall annually be credited to
19the account to which the pledge applies. Such funds as are
20supplementarily allocated by Board resolution subsequent to
21the resolution creating the bonds shall be credited in
22accordance with the terms of the resolution making such
23supplementary allocation to the account to which the allocation
24applies. The Board may authorize such supplementation only
25after a determination by it that the maximum revenues which may
26reasonably and economically be derived from the operation of a

 

 

09700SB0337sam001- 44 -LRB097 04130 NHT 54131 a

1building proposed to be constructed or acquired under the Act
2under which the bonds therefor are issued will be insufficient
3to meet the costs of operation and maintenance and to pay the
4principal of and interest on bonds so issued for such building,
5or after a determination by it that the maximum revenues which
6may reasonably and economically be derived from the operation
7of a building already constructed or acquired under the Act
8under which the bonds therefor were issued are or will be
9insufficient to meet the costs of operation and maintenance and
10to pay the principal of and interest on bonds issued for such
11building. In no event shall the supplementation from University
12income be in excess of an amount which, when added to the
13revenues to be derived from the operation of the building or
14buildings, will be sufficient to meet the annual debt service
15requirements on the bonds issued in respect to such building or
16buildings, the annual cost of maintenance or operation of such
17building or buildings, and to provide for such reserves,
18accounts or covenants which the resolution authorizing the
19issuing of such bonds may require.
20    (5) The Board of Trustees of Northeastern Illinois
21University may also retain in its treasury (a) all moneys
22received from the sale of all bonds issued under the
23Northeastern Illinois University Revenue Bond Law, (b) all
24fees, rentals and other charges from students, staff members
25and others using or being served by, or having the right to use
26or the right to be served by, or to operate any project

 

 

09700SB0337sam001- 45 -LRB097 04130 NHT 54131 a

1acquired under the Northeastern Illinois University Revenue
2Bond Law, (c) all tuition, registration, matriculation,
3health, hospital, medical, laboratory, admission, student
4activities, student services, and all other fees collected from
5students matriculated, registered or otherwise enrolled at and
6attending the University pledged under the terms of any
7resolution authorizing bonds, or authorizing a supplemental
8allocation of fees for debt service of bonds theretofore issued
9pursuant to the Northeastern Illinois University Revenue Bond
10Law, and (d) all rentals from any facility or building acquired
11under the Northeastern Illinois University Revenue Bond Law and
12leased to the United States of America.
13    (6) Whenever funds retained by the University in its own
14treasury as provided in this Section are deposited with a bank
15or savings and loan association and the amount of the deposit
16exceeds the amount of federal deposit insurance coverage, a
17bond or pledged securities shall be obtained. Only the types of
18securities which the State Treasurer may, in his discretion,
19accept for amounts not insured by the Federal Deposit Insurance
20Corporation or the Federal Savings and Loan Insurance
21Corporation under Section 11 of the Deposit of State Moneys Act
22may be accepted as pledged securities. The market value of the
23bond or pledged securities shall at all times be equal to or
24greater than the uninsured portion of the deposit.
25    (7) The Auditor General shall audit or cause to be audited
26all items of income referred to in this Section and all other

 

 

09700SB0337sam001- 46 -LRB097 04130 NHT 54131 a

1income and expenditures of the University.
2    (8) The provisions of this Section, as amended by this
3amendatory Act of the 97th General Assembly, apply to moneys
4received by the University on or after July 1, 2011. Moneys
5held by the University in the University Income Fund that was
6created under this Section pursuant to Public Act 89-602 may be
7expended as authorized by that Public Act, but no additional
8moneys shall be deposited into that Fund after June 30, 2011.
9(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
10    (30 ILCS 105/6a-1g)
11    Sec. 6a-1g. Western Illinois University Income Fund.
12    (1) Beginning on the effective date of this amendatory Act
13of 1996, The following items of income received by Western
14Illinois University for general operational and educational
15purposes shall be retained by the University in its own
16treasury and credited to an account known as the University
17Income Fund that it shall establish in its treasury for
18purposes of this paragraph paid into the State treasury without
19delay and shall be deposited into a special fund to be known as
20the Western Illinois University Income Fund: (a) tuition and
21laboratory fees not pledged to discharge obligations arising
22out of the issuance of revenue bonds, library fees, and all any
23interest which may be earned thereon not later than 20 days
24after receipt of the same without any deductions except for
25refunds to students for whom duplicate payments have been made

 

 

09700SB0337sam001- 47 -LRB097 04130 NHT 54131 a

1and to students who have withdrawn after registration and are
2entitled to such refunds; and (b) excess income from auxiliary
3enterprises and activities as provided in paragraph (2) of this
4Section, and all other income arising out of any activity or
5purpose not specified in paragraph (2), (3), (4) or (5) of this
6Section upon not later than 10 days after receipt of the same
7without any deduction whatever. Within 10 days after the
8effective date of this amendatory Act of 1996, all moneys then
9held in the Western Illinois University Income Fund established
10in the State treasury that have been covered and paid into that
11fund by or on behalf of that University shall be repaid to the
12University upon the warrant of the State Comptroller, directed
13to the State Treasurer as an order to pay the sum required to
14be repaid under this paragraph and shown as due on the warrant.
15The University shall deposit the amount so repaid to it in a
16university bank account within the time period established for
17like amounts in Section 2 of the State Officers and Employees
18Money Disposition Act, to be credited to the University Income
19Fund established by the University in its own treasury for
20purposes of this paragraph. All moneys from time to time held
21in the University Income Fund in the treasury of the University
22shall be used by the University, pursuant to the order and
23direction of the Board of Trustees of the University, for the
24support and improvement of the University, except for amounts
25disbursed from that University Income Fund for refunds to
26students for whom duplicate payment has been made and to

 

 

09700SB0337sam001- 48 -LRB097 04130 NHT 54131 a

1students who have withdrawn after registration and who are
2entitled to such refunds. The General Assembly shall from time
3to time make appropriations payable from such fund for the
4support and improvement of Western Illinois University.
5    (2) The following items of income shall be retained by the
6University in its own treasury: endowment funds, gifts, trust
7funds, and Federal aid; funds received in connection with
8contracts with governmental, public, or private agencies or
9persons, for research or services including funds which are
10paid as reimbursement to the University; funds received in
11connection with reserves authorized by Section 35-60 of the
12Western Illinois University Law; funds received in connection
13with its operation of research and high technology parks and
14with the retention, receipt, assignment, license, sale or
15transfer of interests in, rights to, or income from
16discoveries, inventions, patents, or copyrightable works;
17funds retained by the University under the authority of
18paragraph (3), (4) or (5) of this Section; and funds received
19from the operation of student or staff residence facilities,
20student and staff medical and health programs, Union buildings,
21bookstores, farms, stores, and other auxiliary enterprises or
22activities which are self-supporting in whole or in part. Any
23income derived from such auxiliary enterprises or activities
24which is not necessary to their support, maintenance, or
25development shall not, however, be applied to any general
26operational or educational purposes but shall be retained by

 

 

09700SB0337sam001- 49 -LRB097 04130 NHT 54131 a

1the University in its own treasury and credited to the
2University Income Fund that it shall establish in its treasury
3paid into the State treasury as provided in paragraph (1) of
4this Section.
5    (3) The Board of Trustees of Western Illinois University
6may retain in its treasury any funds derived from rentals,
7service charges and laboratory and building service charges or
8other sources, assessed or obtained for or arising out of the
9operation of any building or buildings or structure or
10structures and pledged to discharge obligations created in
11order to complete or operate such building or structure, or for
12the payment of revenue bonds issued for such University by the
13Teachers College Board, the Board of Governors of State
14Colleges and Universities or the Board of Trustees of Western
15Illinois University, such funds to be disbursed from time to
16time pursuant to the order and direction of the Board of
17Trustees of Western Illinois University, and in accordance with
18any contracts, pledges, trusts or agreements heretofore made
19with respect thereto by the Teachers College Board or the Board
20of Governors of State Colleges and Universities, or hereafter
21made by the Board of Trustees of Western Illinois University.
22    (4) The Board of Trustees of Western Illinois University
23may also retain in its treasury, out of student fees and
24tuition, such sums annually as the Board determines are
25necessary to supplement revenue derived from any building or
26buildings constructed or acquired on or after the effective

 

 

09700SB0337sam001- 50 -LRB097 04130 NHT 54131 a

1date of this amendatory Act of 1995, or to supplement revenues
2derived from any building or buildings having bonds outstanding
3thereon which bonds have heretofore been issued for the
4University by the Teachers College Board or the Board of
5Governors of State Colleges and Universities and which bonds
6are refunded under the provisions of the Act under which they
7were issued or under the provisions of any other law of this
8State authorizing the refunding of such bonds, and may pledge
9or by resolution may make a supplementary allocation of the
10funds so retained out of students' fees and tuition for the
11retirement of such bonds as may be issued under any such Act or
12law. Such funds as are so pledged shall annually be credited to
13the account to which the pledge applies. Such funds as are
14supplementarily allocated by Board resolution subsequent to
15the resolution creating the bonds shall be credited in
16accordance with the terms of the resolution making such
17supplementary allocation to the account to which the allocation
18applies. The Board may authorize such supplementation only
19after a determination by it that the maximum revenues which may
20reasonably and economically be derived from the operation of a
21building proposed to be constructed or acquired under the Act
22under which the bonds therefor are issued will be insufficient
23to meet the costs of operation and maintenance and to pay the
24principal of and interest on bonds so issued for such building,
25or after a determination by it that the maximum revenues which
26may reasonably and economically be derived from the operation

 

 

09700SB0337sam001- 51 -LRB097 04130 NHT 54131 a

1of a building already constructed or acquired under the Act
2under which the bonds therefor were issued are or will be
3insufficient to meet the costs of operation and maintenance and
4to pay the principal of and interest on bonds issued for such
5building. In no event shall the supplementation from University
6income be in excess of an amount which, when added to the
7revenues to be derived from the operation of the building or
8buildings, will be sufficient to meet the annual debt service
9requirements on the bonds issued in respect to such building or
10buildings, the annual cost of maintenance or operation of such
11building or buildings, and to provide for such reserves,
12accounts or covenants which the resolution authorizing the
13issuing of such bonds may require.
14    (5) The Board of Trustees of Western Illinois University
15may also retain in its treasury (a) all moneys received from
16the sale of all bonds issued under the Western Illinois
17University Revenue Bond Law, (b) all fees, rentals and other
18charges from students, staff members and others using or being
19served by, or having the right to use or the right to be served
20by, or to operate any project acquired under the Western
21Illinois University Revenue Bond Law, (c) all tuition,
22registration, matriculation, health, hospital, medical,
23laboratory, admission, student activities, student services,
24and all other fees collected from students matriculated,
25registered or otherwise enrolled at and attending the
26University pledged under the terms of any resolution

 

 

09700SB0337sam001- 52 -LRB097 04130 NHT 54131 a

1authorizing bonds, or authorizing a supplemental allocation of
2fees for debt service of bonds theretofore issued pursuant to
3the Western Illinois University Revenue Bond Law, and (d) all
4rentals from any facility or building acquired under the
5Western Illinois University Revenue Bond Law and leased to the
6United States of America.
7    (6) Whenever funds retained by the University in its own
8treasury as provided in this Section are deposited with a bank
9or savings and loan association and the amount of the deposit
10exceeds the amount of federal deposit insurance coverage, a
11bond or pledged securities shall be obtained. Only the types of
12securities which the State Treasurer may, in his discretion,
13accept for amounts not insured by the Federal Deposit Insurance
14Corporation or the Federal Savings and Loan Insurance
15Corporation under Section 11 of the Deposit of State Moneys Act
16may be accepted as pledged securities. The market value of the
17bond or pledged securities shall at all times be equal to or
18greater than the uninsured portion of the deposit.
19    (7) The Auditor General shall audit or cause to be audited
20all items of income referred to in this Section and all other
21income and expenditures of the University.
22    (8) The provisions of this Section, as amended by this
23amendatory Act of the 97th General Assembly, apply to moneys
24received by the University on or after July 1, 2011. Moneys
25held by the University in the University Income Fund that was
26created under this Section pursuant to Public Act 89-602 may be

 

 

09700SB0337sam001- 53 -LRB097 04130 NHT 54131 a

1expended as authorized by that Public Act, but no additional
2moneys shall be deposited into that Fund after June 30, 2011.
3(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
4    (30 ILCS 105/6d)  (from Ch. 127, par. 142d)
5    Sec. 6d. University income fund; Retention of certain items
6by University of Illinois; Audit.
7    (1) Beginning on the effective date of this amendatory Act
8of 1996, The following items of income, except as otherwise
9provided in Section 6g, received by the University of Illinois
10for general operational and educational purposes shall be
11retained by the University in its own treasury and credited to
12an account known as the University Income Fund that it shall
13establish in its treasury for purposes of this paragraph paid
14into the State treasury without delay and shall be deposited
15into a special fund to be known as the "University Income
16Fund": (a) tuition, laboratory and library fees, and all any
17interest which may be earned thereon, not later than 20 days
18after receipt of the same, without any deductions except for
19refunds to students for whom duplicate payment has been made
20and to students who have withdrawn after registration and who
21are entitled to such refunds; and (b) excess income from
22auxiliary enterprises and activities as provided in paragraph
23(2) of this Section, and all other income arising out of any
24activity or purpose not specified in paragraph (2) upon not
25later than 10 days after receipt of the same and without any

 

 

09700SB0337sam001- 54 -LRB097 04130 NHT 54131 a

1deduction whatever. Such items shall be either paid into the
2State treasury or deposited into a college or university bank
3account within the time period established for like amounts in
4Section 2 of the State Officers and Employees Money Disposition
5Act. Within 10 days after the effective date of this amendatory
6Act of 1996, all moneys then remaining in the University Income
7Fund heretofore established as a special fund in the State
8treasury that were covered and paid into that fund by the
9University shall be repaid to the University upon the warrant
10of the State Comptroller, directed to the State Treasurer as an
11order to pay the sum required to be repaid under this paragraph
12and shown as due on the warrant. The University shall deposit
13the amount so repaid to it in a college or university bank
14account within the time period established for like amounts in
15Section 2 of the State Officers and Employees Money Disposition
16Act, to be credited to the University Income Fund established
17by the University in its own treasury for purposes of this
18paragraph. All moneys from time to time held in the University
19Income Fund in the treasury of the University shall be used by
20the University, pursuant to the order and direction of the
21Board of Trustees of the University, for the support and
22improvement of the University, except for amounts disbursed
23from that University Income Fund for refunds to students for
24whom duplicate payment has been made and to students who have
25withdrawn after registration and who are entitled to such
26refunds ; provided, that if deposited into a bank account, such

 

 

09700SB0337sam001- 55 -LRB097 04130 NHT 54131 a

1items together with interest thereon shall be paid into the
2State treasury as provided in the preceding sentence. The
3General Assembly from time to time shall make appropriations
4payable from the University Income Fund for the support,
5operation and improvement of the University of Illinois.
6    (2) The following items of income shall be retained by the
7University in its own treasury: endowment funds, gifts, trust
8funds, and Federal aid; funds received in connection with
9contracts with governmental, public, or private agencies or
10persons, for research or services including funds which are
11paid as reimbursement to the University and funds received in
12connection with its operation of medical research and high
13technology parks; funds received in connection with the
14retention, receipt, assignment, license, sale or transfer of
15interests in, rights to, or income from discoveries,
16inventions, patents, or copyrightable works; funds retained by
17the University under the authority of Section 6g; and funds
18received from the operation of student or staff residence
19facilities, student and staff medical and health programs,
20Union buildings, bookstores, farms, stores, service
21activities, and other auxiliary enterprises or activities
22which are self-supporting in whole or in part; provided, that
23any income derived from such auxiliary enterprises or
24activities which is not necessary to their support,
25maintenance, or development shall not be applied to any general
26operational or educational purpose but shall be retained by the

 

 

09700SB0337sam001- 56 -LRB097 04130 NHT 54131 a

1University in its own treasury and credited to the University
2Income Fund that it shall establish in its treasury paid into
3the State treasury as provided in paragraph (1) of this
4Section.
5    Whenever such funds retained by the University in its own
6treasury are deposited with a bank or savings and loan
7association and the amount of the deposit exceeds the amount of
8federal deposit insurance coverage, a bond or pledged
9securities shall be obtained. Only the types of securities
10which the State Treasurer may, in his discretion, accept for
11amounts not insured by the Federal Deposit Insurance
12Corporation or the Federal Savings and Loan Insurance
13Corporation under Section 11 of the Deposit of State Moneys Act
14may be accepted as pledged securities. The market value of the
15bond or pledged securities shall at all times be equal to or
16greater than the uninsured portion of the deposit.
17    The Auditor General shall audit or cause to be audited the
18above items of income and all other income and expenditures of
19such institution.
20    (3) The provisions of this Section, as amended by this
21amendatory Act of the 97th General Assembly, apply to moneys
22received by the University on or after July 1, 2011. Moneys
23held by the University in the University Income Fund that was
24created under this Section pursuant to Public Act 89-602 may be
25expended as authorized by that Public Act, but no additional
26moneys shall be deposited into that Fund after June 30, 2011.

 

 

09700SB0337sam001- 57 -LRB097 04130 NHT 54131 a

1(Source: P.A. 89-602, eff. 8-2-96.)
 
2    Section 10. The Illinois Pension Code is amended by
3changing Section 15-155 as follows:
 
4    (40 ILCS 5/15-155)  (from Ch. 108 1/2, par. 15-155)
5    Sec. 15-155. Employer contributions.
6    (a) The State of Illinois shall make contributions by
7appropriations of amounts which, together with the other
8employer contributions from trust, federal, and other funds,
9employee contributions, income from investments, and other
10income of this System, will be sufficient to meet the cost of
11maintaining and administering the System on a 90% funded basis
12in accordance with actuarial recommendations.
13    The Board shall determine the amount of State contributions
14required for each fiscal year on the basis of the actuarial
15tables and other assumptions adopted by the Board and the
16recommendations of the actuary, using the formula in subsection
17(a-1).
18    (a-1) For State fiscal years 2011 through 2045, the minimum
19contribution to the System to be made by the State for each
20fiscal year shall be an amount determined by the System to be
21sufficient to bring the total assets of the System up to 90% of
22the total actuarial liabilities of the System by the end of
23State fiscal year 2045. In making these determinations, the
24required State contribution shall be calculated each year as a

 

 

09700SB0337sam001- 58 -LRB097 04130 NHT 54131 a

1level percentage of payroll over the years remaining to and
2including fiscal year 2045 and shall be determined under the
3projected unit credit actuarial cost method.
4    For State fiscal years 1996 through 2005, the State
5contribution to the System, as a percentage of the applicable
6employee payroll, shall be increased in equal annual increments
7so that by State fiscal year 2011, the State is contributing at
8the rate required under this Section.
9    Notwithstanding any other provision of this Article, the
10total required State contribution for State fiscal year 2006 is
11$166,641,900.
12    Notwithstanding any other provision of this Article, the
13total required State contribution for State fiscal year 2007 is
14$252,064,100.
15    For each of State fiscal years 2008 through 2009, the State
16contribution to the System, as a percentage of the applicable
17employee payroll, shall be increased in equal annual increments
18from the required State contribution for State fiscal year
192007, so that by State fiscal year 2011, the State is
20contributing at the rate otherwise required under this Section.
21    Notwithstanding any other provision of this Article, the
22total required State contribution for State fiscal year 2010 is
23$702,514,000 and shall be made from the State Pensions Fund and
24proceeds of bonds sold in fiscal year 2010 pursuant to Section
257.2 of the General Obligation Bond Act, less (i) the pro rata
26share of bond sale expenses determined by the System's share of

 

 

09700SB0337sam001- 59 -LRB097 04130 NHT 54131 a

1total bond proceeds, (ii) any amounts received from the General
2Revenue Fund in fiscal year 2010, (iii) any reduction in bond
3proceeds due to the issuance of discounted bonds, if
4applicable.
5    Beginning in State fiscal year 2046, the minimum State
6contribution for each fiscal year shall be the amount needed to
7maintain the total assets of the System at 90% of the total
8actuarial liabilities of the System.
9    Amounts received by the System pursuant to Section 25 of
10the Budget Stabilization Act or Section 8.12 of the State
11Finance Act in any fiscal year do not reduce and do not
12constitute payment of any portion of the minimum State
13contribution required under this Article in that fiscal year.
14Such amounts shall not reduce, and shall not be included in the
15calculation of, the required State contributions under this
16Article in any future year until the System has reached a
17funding ratio of at least 90%. A reference in this Article to
18the "required State contribution" or any substantially similar
19term does not include or apply to any amounts payable to the
20System under Section 25 of the Budget Stabilization Act.
21    Notwithstanding any other provision of this Section, the
22required State contribution for State fiscal year 2005 and for
23fiscal year 2008 and each fiscal year thereafter, as calculated
24under this Section and certified under Section 15-165, shall
25not exceed an amount equal to (i) the amount of the required
26State contribution that would have been calculated under this

 

 

09700SB0337sam001- 60 -LRB097 04130 NHT 54131 a

1Section for that fiscal year if the System had not received any
2payments under subsection (d) of Section 7.2 of the General
3Obligation Bond Act, minus (ii) the portion of the State's
4total debt service payments for that fiscal year on the bonds
5issued for the purposes of that Section 7.2, as determined and
6certified by the Comptroller, that is the same as the System's
7portion of the total moneys distributed under subsection (d) of
8Section 7.2 of the General Obligation Bond Act. In determining
9this maximum for State fiscal years 2008 through 2010, however,
10the amount referred to in item (i) shall be increased, as a
11percentage of the applicable employee payroll, in equal
12increments calculated from the sum of the required State
13contribution for State fiscal year 2007 plus the applicable
14portion of the State's total debt service payments for fiscal
15year 2007 on the bonds issued for the purposes of Section 7.2
16of the General Obligation Bond Act, so that, by State fiscal
17year 2011, the State is contributing at the rate otherwise
18required under this Section.
19    (b) If an employee is paid from trust or federal funds, the
20employer shall pay to the Board contributions from those funds
21which are sufficient to cover the accruing normal costs on
22behalf of the employee. However, universities having employees
23who are compensated out of local auxiliary funds, income funds,
24or service enterprise funds are not required to pay such
25contributions on behalf of those employees. The local auxiliary
26funds, income funds, and service enterprise funds of

 

 

09700SB0337sam001- 61 -LRB097 04130 NHT 54131 a

1universities shall not be considered trust funds for the
2purpose of this Article, but funds of alumni associations,
3foundations, and athletic associations which are affiliated
4with the universities included as employers under this Article
5and other employers which do not receive State appropriations
6are considered to be trust funds for the purpose of this
7Article.
8    (b-1) The City of Urbana and the City of Champaign shall
9each make employer contributions to this System for their
10respective firefighter employees who participate in this
11System pursuant to subsection (h) of Section 15-107. The rate
12of contributions to be made by those municipalities shall be
13determined annually by the Board on the basis of the actuarial
14assumptions adopted by the Board and the recommendations of the
15actuary, and shall be expressed as a percentage of salary for
16each such employee. The Board shall certify the rate to the
17affected municipalities as soon as may be practical. The
18employer contributions required under this subsection shall be
19remitted by the municipality to the System at the same time and
20in the same manner as employee contributions.
21    (c) Through State fiscal year 1995: The total employer
22contribution shall be apportioned among the various funds of
23the State and other employers, whether trust, federal, or other
24funds, in accordance with actuarial procedures approved by the
25Board. State of Illinois contributions for employers receiving
26State appropriations for personal services shall be payable

 

 

09700SB0337sam001- 62 -LRB097 04130 NHT 54131 a

1from appropriations made to the employers or to the System. The
2contributions for Class I community colleges covering earnings
3other than those paid from trust and federal funds, shall be
4payable solely from appropriations to the Illinois Community
5College Board or the System for employer contributions.
6    (d) Beginning in State fiscal year 1996, the required State
7contributions to the System shall be appropriated directly to
8the System and shall be payable through vouchers issued in
9accordance with subsection (c) of Section 15-165, except as
10provided in subsection (g).
11    (e) The State Comptroller shall draw warrants payable to
12the System upon proper certification by the System or by the
13employer in accordance with the appropriation laws and this
14Code.
15    (f) Normal costs under this Section means liability for
16pensions and other benefits which accrues to the System because
17of the credits earned for service rendered by the participants
18during the fiscal year and expenses of administering the
19System, but shall not include the principal of or any
20redemption premium or interest on any bonds issued by the Board
21or any expenses incurred or deposits required in connection
22therewith.
23    (g) If the amount of a participant's earnings for any
24academic year used to determine the final rate of earnings,
25determined on a full-time equivalent basis, exceeds the amount
26of his or her earnings with the same employer for the previous

 

 

09700SB0337sam001- 63 -LRB097 04130 NHT 54131 a

1academic year, determined on a full-time equivalent basis, by
2more than 6%, the participant's employer shall pay to the
3System, in addition to all other payments required under this
4Section and in accordance with guidelines established by the
5System, the present value of the increase in benefits resulting
6from the portion of the increase in earnings that is in excess
7of 6%. This present value shall be computed by the System on
8the basis of the actuarial assumptions and tables used in the
9most recent actuarial valuation of the System that is available
10at the time of the computation. The System may require the
11employer to provide any pertinent information or
12documentation.
13    Whenever it determines that a payment is or may be required
14under this subsection (g), the System shall calculate the
15amount of the payment and bill the employer for that amount.
16The bill shall specify the calculations used to determine the
17amount due. If the employer disputes the amount of the bill, it
18may, within 30 days after receipt of the bill, apply to the
19System in writing for a recalculation. The application must
20specify in detail the grounds of the dispute and, if the
21employer asserts that the calculation is subject to subsection
22(h) or (i) of this Section, must include an affidavit setting
23forth and attesting to all facts within the employer's
24knowledge that are pertinent to the applicability of subsection
25(h) or (i). Upon receiving a timely application for
26recalculation, the System shall review the application and, if

 

 

09700SB0337sam001- 64 -LRB097 04130 NHT 54131 a

1appropriate, recalculate the amount due.
2    The employer contributions required under this subsection
3(f) may be paid in the form of a lump sum within 90 days after
4receipt of the bill. If the employer contributions are not paid
5within 90 days after receipt of the bill, then interest will be
6charged at a rate equal to the System's annual actuarially
7assumed rate of return on investment compounded annually from
8the 91st day after receipt of the bill. Payments must be
9concluded within 3 years after the employer's receipt of the
10bill.
11    (h) This subsection (h) applies only to payments made or
12salary increases given on or after June 1, 2005 but before July
131, 2011. The changes made by Public Act 94-1057 shall not
14require the System to refund any payments received before July
1531, 2006 (the effective date of Public Act 94-1057).
16    When assessing payment for any amount due under subsection
17(g), the System shall exclude earnings increases paid to
18participants under contracts or collective bargaining
19agreements entered into, amended, or renewed before June 1,
202005.
21    When assessing payment for any amount due under subsection
22(g), the System shall exclude earnings increases paid to a
23participant at a time when the participant is 10 or more years
24from retirement eligibility under Section 15-135.
25    When assessing payment for any amount due under subsection
26(g), the System shall exclude earnings increases resulting from

 

 

09700SB0337sam001- 65 -LRB097 04130 NHT 54131 a

1overload work, including a contract for summer teaching, or
2overtime when the employer has certified to the System, and the
3System has approved the certification, that: (i) in the case of
4overloads (A) the overload work is for the sole purpose of
5academic instruction in excess of the standard number of
6instruction hours for a full-time employee occurring during the
7academic year that the overload is paid and (B) the earnings
8increases are equal to or less than the rate of pay for
9academic instruction computed using the participant's current
10salary rate and work schedule; and (ii) in the case of
11overtime, the overtime was necessary for the educational
12mission.
13    When assessing payment for any amount due under subsection
14(g), the System shall exclude any earnings increase resulting
15from (i) a promotion for which the employee moves from one
16classification to a higher classification under the State
17Universities Civil Service System, (ii) a promotion in academic
18rank for a tenured or tenure-track faculty position, or (iii) a
19promotion that the Illinois Community College Board has
20recommended in accordance with subsection (k) of this Section.
21These earnings increases shall be excluded only if the
22promotion is to a position that has existed and been filled by
23a member for no less than one complete academic year and the
24earnings increase as a result of the promotion is an increase
25that results in an amount no greater than the average salary
26paid for other similar positions.

 

 

09700SB0337sam001- 66 -LRB097 04130 NHT 54131 a

1    (i) When assessing payment for any amount due under
2subsection (g), the System shall exclude any salary increase
3described in subsection (h) of this Section given on or after
4July 1, 2011 but before July 1, 2014 under a contract or
5collective bargaining agreement entered into, amended, or
6renewed on or after June 1, 2005 but before July 1, 2011.
7Notwithstanding any other provision of this Section, any
8payments made or salary increases given after June 30, 2014
9shall be used in assessing payment for any amount due under
10subsection (g) of this Section.
11    (j) The System shall prepare a report and file copies of
12the report with the Governor and the General Assembly by
13January 1, 2007 that contains all of the following information:
14        (1) The number of recalculations required by the
15    changes made to this Section by Public Act 94-1057 for each
16    employer.
17        (2) The dollar amount by which each employer's
18    contribution to the System was changed due to
19    recalculations required by Public Act 94-1057.
20        (3) The total amount the System received from each
21    employer as a result of the changes made to this Section by
22    Public Act 94-4.
23        (4) The increase in the required State contribution
24    resulting from the changes made to this Section by Public
25    Act 94-1057.
26    (k) The Illinois Community College Board shall adopt rules

 

 

09700SB0337sam001- 67 -LRB097 04130 NHT 54131 a

1for recommending lists of promotional positions submitted to
2the Board by community colleges and for reviewing the
3promotional lists on an annual basis. When recommending
4promotional lists, the Board shall consider the similarity of
5the positions submitted to those positions recognized for State
6universities by the State Universities Civil Service System.
7The Illinois Community College Board shall file a copy of its
8findings with the System. The System shall consider the
9findings of the Illinois Community College Board when making
10determinations under this Section. The System shall not exclude
11any earnings increases resulting from a promotion when the
12promotion was not submitted by a community college. Nothing in
13this subsection (k) shall require any community college to
14submit any information to the Community College Board.
15    (l) For purposes of determining the required State
16contribution to the System, the value of the System's assets
17shall be equal to the actuarial value of the System's assets,
18which shall be calculated as follows:
19    As of June 30, 2008, the actuarial value of the System's
20assets shall be equal to the market value of the assets as of
21that date. In determining the actuarial value of the System's
22assets for fiscal years after June 30, 2008, any actuarial
23gains or losses from investment return incurred in a fiscal
24year shall be recognized in equal annual amounts over the
255-year period following that fiscal year.
26    (m) For purposes of determining the required State

 

 

09700SB0337sam001- 68 -LRB097 04130 NHT 54131 a

1contribution to the system for a particular year, the actuarial
2value of assets shall be assumed to earn a rate of return equal
3to the system's actuarially assumed rate of return.
4(Source: P.A. 95-331, eff. 8-21-07; 95-950, eff. 8-29-08;
596-43, eff. 7-15-09.)
 
6    Section 15. The University of Illinois at Springfield Law
7is amended by changing Section 40-10 as follows:
 
8    (110 ILCS 327/40-10)
9    Sec. 40-10. Transfer of powers, duties, assets;
10outstanding contracts, agreements and bonds. All the rights,
11powers and duties vested by law in the Board of Regents and
12relating to the operation, management, control and maintenance
13of Sangamon State University prior to its change of name and
14status to the University of Illinois at Springfield are hereby
15transferred to and vested in the Board of Trustees of the
16University of Illinois.
17    All books, records, papers, documents and pending business
18in any way pertaining to Sangamon State University prior to its
19change of name and status to the University of Illinois at
20Springfield and held by the Board of Regents are hereby
21transferred from the Board of Regents to the Board of Trustees
22of the University of Illinois.
23    On the effective date of this Article, the rules and
24regulations previously promulgated by the Board of Regents and

 

 

09700SB0337sam001- 69 -LRB097 04130 NHT 54131 a

1applicable to Sangamon State University shall be the rules and
2regulations applicable to the University of Illinois at
3Springfield, provided that, after the effective date of this
4Article, any or all of the rules and regulations may be changed
5or rescinded by the Board of Trustees of the University of
6Illinois.
7    All items of income heretofore received by Sangamon State
8University prior to its change of name and status to the
9University of Illinois at Springfield and paid into the State
10Treasury and covered into the Board of Regents Income Fund and
11not heretofore appropriated by the General Assembly for the
12support and improvement of Sangamon State University under the
13provisions of paragraph (1) of Section 6a-4 of the State
14Finance Act or for the support and improvement of the
15University of Illinois under the provisions of paragraph (1) of
16Section 6d of the State Finance Act shall be transferred by the
17State Treasurer and covered into the University Income Fund for
18appropriations from time to time to be made by the General
19Assembly payable from such fund for the support and improvement
20of the University of Illinois and its branches as provided in
21paragraph (1) of Section 6d of that Act; provided that within
2210 days after the effective date of this amendatory Act of
231996, all moneys then remaining in the University Income Fund
24heretofore established as a special fund in the State Treasury
25shall be paid to the University of Illinois and deposited and
26credited to the University Income Fund established by the

 

 

09700SB0337sam001- 70 -LRB097 04130 NHT 54131 a

1University of Illinois in its own treasury as provided in
2paragraph (1) of Section 6d of the State Finance Act.
3    The right of custody, possession and control over all items
4of income, funds or deposits in any way pertaining to Sangamon
5State University prior to its change of name and status to the
6University of Illinois at Springfield, which on the effective
7date of this Article are held or retained by, or under the
8jurisdiction of the Board of Regents under the authority of
9paragraph (2) of Section 6a-4 of the State Finance Act, is
10hereby transferred to and vested in the Board of Trustees of
11the University of Illinois to be retained by the University in
12its own treasury, or deposited with a bank or savings and loan
13association, all in accordance with the provisions of paragraph
14(2) of Section 6d of that Act.
15    There is hereby transferred from the Board of Regents to
16the Board of Trustees of the University of Illinois the power
17of order and direction over the disbursement of those funds
18which immediately prior to the effective date of this Article
19were retained by Sangamon State University (prior to its change
20of name and status to the University of Illinois at
21Springfield) in its own treasury under the authority of
22paragraph (3) of Section 6a-4 of the State Finance Act;
23provided that such funds shall be disbursed from time to time
24pursuant to the order and direction of the Board of Trustees in
25accordance with any contracts, pledges, trusts or agreements
26heretofore made with respect to the use or application of such

 

 

09700SB0337sam001- 71 -LRB097 04130 NHT 54131 a

1funds by the Board of Regents.
2    The Board of Trustees of the University of Illinois shall
3succeed to, assume and exercise all rights, powers, duties and
4responsibilities formerly exercised by the Board of Regents on
5behalf of Sangamon State University (now known as the
6University of Illinois at Springfield) prior to the effective
7date of this Article. All contracts and agreements entered into
8by the Board of Regents on behalf of Sangamon State University
9(now known as the University of Illinois at Springfield) prior
10to the effective date of this Article shall subsist
11notwithstanding the transfer of the functions of the Board of
12Regents with respect to Sangamon State University (now known as
13the University of Illinois at Springfield) to the Board of
14Trustees of the University of Illinois. All bonds, notes, and
15other evidences of indebtedness outstanding on the effective
16date of this Article issued by the Board of Regents on behalf
17of Sangamon State University (now known as the University of
18Illinois at Springfield) shall become the bonds, notes, or
19other evidences of indebtedness of the University of Illinois
20and shall be otherwise unaffected by the transfer of functions
21to the Board of Trustees of the University of Illinois. Any
22action, including without limitation, approvals of
23applications for bonds and resolutions constituting official
24action under the Internal Revenue Code by the Board of Regents
25prior to the effective date of this Article shall remain
26effective to the same extent as if that action had been taken

 

 

09700SB0337sam001- 72 -LRB097 04130 NHT 54131 a

1by the Board of Trustees of the University of Illinois and
2shall be deemed to be action taken by that Board of Trustees
3for the University of Illinois at Springfield.
4    The title to all other property, whether real, personal or
5mixed, and all accounts receivable belonging to or under the
6jurisdiction of the Board of Regents for Sangamon State
7University prior to its change of name and status to the
8University of Illinois at Springfield is hereby transferred to
9and vested in the Board of Trustees of the University of
10Illinois to be held for the People of the State of Illinois.
11(Source: P.A. 89-4, eff. 7-1-95 (eff. date changed from 1-1-96
12by P.A. 89-24); 89-602, eff. 8-2-96.)
 
13    Section 20. The Chicago State University Law is amended by
14changing Section 5-35 as follows:
 
15    (110 ILCS 660/5-35)
16    Sec. 5-35. Transfer of powers, duties, assets; outstanding
17contracts, agreements and bonds. All the rights, powers and
18duties vested by law in the Board of Governors of State
19Colleges and Universities and relating to the operation,
20management, control and maintenance of Chicago State
21University are hereby transferred to and vested in the Board of
22Trustees of Chicago State University.
23    All books, records, papers, documents and pending business
24in any way pertaining to Chicago State University and held by

 

 

09700SB0337sam001- 73 -LRB097 04130 NHT 54131 a

1the Board of Governors of State Colleges and Universities are
2hereby transferred from the Board of Governors of State
3Colleges and Universities to the Board of Trustees of Chicago
4State University.
5    The employment of the president and all other academic and
6nonacademic personnel of Chicago State University is hereby
7transferred from the Board of Governors of State Colleges and
8Universities to the Board of Trustees of Chicago State
9University, but the status and rights of all personnel whose
10employment is so transferred under the State Universities Civil
11Service System, under the State Universities Retirement System
12and under any other contract or benefit plan shall be
13unaffected thereby.
14    No rule or regulation promulgated by the Board of Governors
15of State Colleges and Universities prior to the effective date
16of this Article pursuant to an exercise of any right, power,
17duty, responsibility or matter of pending business transferred
18from the Board of Governors of State Colleges and Universities
19to the Board of Trustees of Chicago State University under the
20provisions of this Article shall be affected thereby, and all
21such rules and regulations shall become the rules and
22regulations of the Board of Trustees of Chicago State
23University.
24    All items of income heretofore received by Chicago State
25University and paid into the State Treasury and covered into
26the Board of Governors of State Colleges and Universities

 

 

09700SB0337sam001- 74 -LRB097 04130 NHT 54131 a

1Income Fund and not heretofore appropriated by the General
2Assembly for the support and improvement of Chicago State
3University under the provisions of paragraph (1) of Section 6a
4of the State Finance Act shall be transferred by the State
5Treasurer and covered into the Chicago State University Income
6Fund for appropriations from time to time to be made by the
7General Assembly payable from such fund for the support and
8improvement of Chicago State University as provided in
9paragraph (1) of Section 6a-1c of that Act; provided that
10within 10 days after the effective date of this amendatory Act
11of 1996, all moneys then remaining in the Chicago State
12University Income Fund heretofore established as a special fund
13in the State Treasury shall be repaid to the University to be
14deposited and credited to the University Income Fund
15established by Chicago State University in its own treasury as
16provided in paragraph (1) of Section 6a-1c of the State Finance
17Act.
18    The right of custody, possession and control over all items
19of income, funds or deposits in any way pertaining to Chicago
20State University, which on the effective date of this Article
21are held or retained by, or under the jurisdiction of the Board
22of Governors of State Colleges and Universities under the
23authority of paragraph (2) of Section 6a of the State Finance
24Act, is hereby transferred to and vested in the Board of
25Trustees of Chicago State University to be retained by the
26University in its own treasury, or deposited with a bank or

 

 

09700SB0337sam001- 75 -LRB097 04130 NHT 54131 a

1savings and loan association, all in accordance with the
2provisions of paragraphs (2) and (6) of Section 6a-1c of that
3Act.
4    There is hereby transferred from the Board of Governors of
5State Colleges and Universities to the Board of Trustees of
6Chicago State University the power of order and direction over
7the disbursement of those funds which immediately prior to the
8effective date of this Article were retained by Chicago State
9University in its own treasury under the authority of Section
106a-2 of the State Finance Act; provided that such funds shall
11be disbursed from time to time pursuant to the order and
12direction of the Board of Trustees in accordance with any
13contracts, pledges, trusts or agreements heretofore made with
14respect to the use or application of such funds by the Teachers
15College Board or the Board of Governors of State Colleges and
16Universities.
17    Chicago State University shall succeed to, assume and
18exercise all rights, powers, duties and responsibilities
19formerly exercised by the Board of Governors of State Colleges
20and Universities on behalf of Chicago State University prior to
21the effective date of this Article. All contracts and
22agreements entered into by the Board of Governors of State
23Colleges and Universities on behalf of Chicago State University
24prior to the effective date of this Article shall be valid and
25shall subsist notwithstanding the abolition of the Board of
26Governors of State Colleges and Universities and the repeal of

 

 

09700SB0337sam001- 76 -LRB097 04130 NHT 54131 a

1the Board of Governors Act and notwithstanding the transfer or
2the functions of the Board of Governors of State Colleges and
3Universities with respect to Chicago State University to the
4Board of Trustees of Chicago State University. All bonds,
5notes, and other evidences of indebtedness outstanding on the
6effective date of this Article issued by the Teachers College
7Board or the Board of Governors of State Colleges and
8Universities on behalf of Chicago State University shall become
9the bonds, notes or other evidences of indebtedness of Chicago
10State University and shall be otherwise unaffected by the
11transfer of functions to Chicago State University. Any action,
12including without limitation, approvals of applications for
13bonds and resolutions constituting official action under the
14Internal Revenue Code by the Teachers College Board or Board of
15Governors of State Colleges and Universities prior to the
16effective date of this Article shall remain effective to the
17same extent as if that action had been taken by Chicago State
18University and shall be deemed to be action taken by Chicago
19State University.
20    The title to all other property, whether real, personal or
21mixed, belonging to or under the jurisdiction of the Board of
22Governors of State Colleges and Universities for Chicago State
23University is hereby transferred to and vested in the Board of
24Trustees of Chicago State University to be held for the People
25of the State of Illinois for such University.
26(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 

 

 

09700SB0337sam001- 77 -LRB097 04130 NHT 54131 a

1    Section 25. The Eastern Illinois University Law is amended
2by changing Section 10-35 as follows:
 
3    (110 ILCS 665/10-35)
4    Sec. 10-35. Transfer of powers, duties, assets;
5outstanding contracts, agreements and bonds. All the rights,
6powers and duties vested by law in the Board of Governors of
7State Colleges and Universities and relating to the operation,
8management, control and maintenance of Eastern Illinois
9University are hereby transferred to and vested in the Board of
10Trustees of Eastern Illinois University.
11    All books, records, papers, documents and pending business
12in any way pertaining to Eastern Illinois University and held
13by the Board of Governors of State Colleges and Universities
14are hereby transferred from the Board of Governors of State
15Colleges and Universities to the Board of Trustees of Eastern
16Illinois University.
17    The employment of the president and all other academic and
18nonacademic personnel of Eastern Illinois University is hereby
19transferred from the Board of Governors of State Colleges and
20Universities to the Board of Trustees of Eastern Illinois
21University, but the status and rights of all personnel whose
22employment is so transferred under the State Universities Civil
23Service System, under the State Universities Retirement System
24and under any other contract or benefit plan shall be

 

 

09700SB0337sam001- 78 -LRB097 04130 NHT 54131 a

1unaffected thereby.
2    No rule or regulation promulgated by the Board of Governors
3of State Colleges and Universities prior to the effective date
4of this Article pursuant to an exercise of any right, power,
5duty, responsibility or matter of pending business transferred
6from the Board of Governors of State Colleges and Universities
7to the Board of Trustees of Eastern Illinois University under
8the provisions of this Article shall be affected thereby, and
9all such rules and regulations shall become the rules and
10regulations of the Board of Trustees of Eastern Illinois
11University.
12    All items of income heretofore received by Eastern Illinois
13University and paid into the State Treasury and covered into
14the Board of Governors of State Colleges and Universities
15Income Fund and not heretofore appropriated by the General
16Assembly for the support and improvement of Eastern Illinois
17University under the provisions of paragraph (1) of Section 6a
18of the State Finance Act shall be transferred by the State
19Treasurer and covered into the Eastern Illinois University
20Income Fund for appropriations from time to time to be made by
21the General Assembly payable from such fund for the support and
22improvement of Eastern Illinois University as provided in
23paragraph (1) of Section 6a-1d of that Act; provided that
24within 10 days after the effective date of this amendatory Act
25of 1996, all moneys then remaining in the Eastern Illinois
26University Income Fund heretofore established as a special fund

 

 

09700SB0337sam001- 79 -LRB097 04130 NHT 54131 a

1in the State Treasury shall be repaid to the University to be
2deposited and credited to the University Income Fund
3established by Eastern Illinois University in its own treasury
4as provided in paragraph (1) of Section 6a-1d of the State
5Finance Act.
6    The right of custody, possession and control over all items
7of income, funds or deposits in any way pertaining to Eastern
8Illinois University, which on the effective date of this
9Article are held or retained by, or under the jurisdiction of
10the Board of Governors of State Colleges and Universities under
11the authority of paragraph (2) of Section 6a of the State
12Finance Act, is hereby transferred to and vested in the Board
13of Trustees of Eastern Illinois University to be retained by
14the University in its own treasury, or deposited with a bank or
15savings and loan association, all in accordance with the
16provisions of paragraphs (2) and (6) of Section 6a-1d of that
17Act.
18    There is hereby transferred from the Board of Governors of
19State Colleges and Universities to the Board of Trustees of
20Eastern Illinois University the power of order and direction
21over the disbursement of those funds which immediately prior to
22the effective date of this Article were retained by Eastern
23Illinois University in its own treasury under the authority of
24Section 6a-2 of the State Finance Act; provided that such funds
25shall be disbursed from time to time pursuant to the order and
26direction of the Board of Trustees in accordance with any

 

 

09700SB0337sam001- 80 -LRB097 04130 NHT 54131 a

1contracts, pledges, trusts or agreements heretofore made with
2respect to the use or application of such funds by the Teachers
3College Board or the Board of Governors of State Colleges and
4Universities.
5    Eastern Illinois University shall succeed to, assume and
6exercise all rights, powers, duties and responsibilities
7formerly exercised by the Board of Governors of State Colleges
8and Universities on behalf of Eastern Illinois University prior
9to the effective date of this Article. All contracts and
10agreements entered into by the Board of Governors of State
11Colleges and Universities on behalf of Eastern Illinois
12University prior to the effective date of this Article shall be
13valid and shall subsist notwithstanding the abolition of the
14Board of Governors of State Colleges and Universities and the
15repeal of the Board of Governors Act and notwithstanding the
16transfer or the functions of the Board of Governors of State
17Colleges and Universities with respect to Eastern Illinois
18University to the Board of Trustees of Eastern Illinois
19University. All bonds, notes, and other evidences of
20indebtedness outstanding on the effective date of this Article
21issued by the Teachers College Board or the Board of Governors
22of State Colleges and Universities on behalf of Eastern
23Illinois University shall become the bonds, notes or other
24evidences of indebtedness of Eastern Illinois University and
25shall be otherwise unaffected by the transfer of functions to
26Eastern Illinois University. Any action, including without

 

 

09700SB0337sam001- 81 -LRB097 04130 NHT 54131 a

1limitation, approvals of applications for bonds and
2resolutions constituting official action under the Internal
3Revenue Code by the Teachers College Board or Board of
4Governors of State Colleges and Universities prior to the
5effective date of this Article shall remain effective to the
6same extent as if that action had been taken by Eastern
7Illinois University and shall be deemed to be action taken by
8Eastern Illinois University.
9    The title to all other property, whether real, personal or
10mixed, belonging to or under the jurisdiction of the Board of
11Governors of State Colleges and Universities for Eastern
12Illinois University is hereby transferred to and vested in the
13Board of Trustees of Eastern Illinois University to be held for
14the People of the State of Illinois for such University.
15(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
16    Section 30. The Governors State University Law is amended
17by changing Section 15-35 as follows:
 
18    (110 ILCS 670/15-35)
19    Sec. 15-35. Transfer of powers, duties, assets;
20outstanding contracts, agreements and bonds. All the rights,
21powers and duties vested by law in the Board of Governors of
22State Colleges and Universities and relating to the operation,
23management, control and maintenance of Governors State
24University are hereby transferred to and vested in the Board of

 

 

09700SB0337sam001- 82 -LRB097 04130 NHT 54131 a

1Trustees of Governors State University.
2    All books, records, papers, documents and pending business
3in any way pertaining to Governors State University and held by
4the Board of Governors of State Colleges and Universities are
5hereby transferred from the Board of Governors of State
6Colleges and Universities to the Board of Trustees of Governors
7State University.
8    The employment of the president and all other academic and
9nonacademic personnel of Governors State University is hereby
10transferred from the Board of Governors of State Colleges and
11Universities to the Board of Trustees of Governors State
12University, but the status and rights of all personnel whose
13employment is so transferred under the State Universities Civil
14Service System, under the State Universities Retirement System
15and under any other contract or benefit plan shall be
16unaffected thereby.
17    No rule or regulation promulgated by the Board of Governors
18of State Colleges and Universities prior to the effective date
19of this Article pursuant to an exercise of any right, power,
20duty, responsibility or matter of pending business transferred
21from the Board of Governors of State Colleges and Universities
22to the Board of Trustees of Governors State University under
23the provisions of this Article shall be affected thereby, and
24all such rules and regulations shall become the rules and
25regulations of the Board of Trustees of Governors State
26University.

 

 

09700SB0337sam001- 83 -LRB097 04130 NHT 54131 a

1    All items of income heretofore received by Governors State
2University and paid into the State Treasury and covered into
3the Board of Governors of State Colleges and Universities
4Income Fund and not heretofore appropriated by the General
5Assembly for the support and improvement of Governors State
6University under the provisions of paragraph (1) of Section 6a
7of the State Finance Act shall be transferred by the State
8Treasurer and covered into the Governors State University
9Income Fund for appropriations from time to time to be made by
10the General Assembly payable from such fund for the support and
11improvement of Governors State University as provided in
12paragraph (1) of Section 6a-1e of that Act; provided that
13within 10 days after the effective date of this amendatory Act
14of 1996, all moneys then remaining in the Governors State
15University Income Fund heretofore established as a special fund
16in the State Treasury shall be repaid to the University to be
17deposited and credited to the University Income Fund
18established by Governors State University in its own treasury
19as provided in paragraph (1) of Section 6a-1e of the State
20Finance Act.
21    The right of custody, possession and control over all items
22of income, funds or deposits in any way pertaining to Governors
23State University, which on the effective date of this Article
24are held or retained by, or under the jurisdiction of the Board
25of Governors of State Colleges and Universities under the
26authority of paragraph (2) of Section 6a of the State Finance

 

 

09700SB0337sam001- 84 -LRB097 04130 NHT 54131 a

1Act, is hereby transferred to and vested in the Board of
2Trustees of Governors State University to be retained by the
3University in its own treasury, or deposited with a bank or
4savings and loan association, all in accordance with the
5provisions of paragraphs (2) and (6) of Section 6a-1e of that
6Act.
7    There is hereby transferred from the Board of Governors of
8State Colleges and Universities to the Board of Trustees of
9Governors State University the power of order and direction
10over the disbursement of those funds which immediately prior to
11the effective date of this Article were retained by Governors
12State University in its own treasury under the authority of
13Section 6a-2 of the State Finance Act; provided that such funds
14shall be disbursed from time to time pursuant to the order and
15direction of the Board of Trustees in accordance with any
16contracts, pledges, trusts or agreements heretofore made with
17respect to the use or application of such funds by the Teachers
18College Board or the Board of Governors of State Colleges and
19Universities.
20    Governors State University shall succeed to, assume and
21exercise all rights, powers, duties and responsibilities
22formerly exercised by the Board of Governors of State Colleges
23and Universities on behalf of Governors State University prior
24to the effective date of this Article. All contracts and
25agreements entered into by the Board of Governors of State
26Colleges and Universities on behalf of Governors State

 

 

09700SB0337sam001- 85 -LRB097 04130 NHT 54131 a

1University prior to the effective date of this Article shall be
2valid and shall subsist notwithstanding the abolition of the
3Board of Governors of State Colleges and Universities and the
4repeal of the Board of Governors Act and notwithstanding the
5transfer or the functions of the Board of Governors of State
6Colleges and Universities with respect to Governors State
7University to the Board of Trustees of Governors State
8University. All bonds, notes, and other evidences of
9indebtedness outstanding on the effective date of this Article
10issued by the Teachers College Board or the Board of Governors
11of State Colleges and Universities on behalf of Governors State
12University shall become the bonds, notes or other evidences of
13indebtedness of Governors State University and shall be
14otherwise unaffected by the transfer of functions to Governors
15State University. Any action, including without limitation,
16approvals of applications for bonds and resolutions
17constituting official action under the Internal Revenue Code by
18the Teachers College Board or Board of Governors of State
19Colleges and Universities prior to the effective date of this
20Article shall remain effective to the same extent as if that
21action had been taken by Governors State University and shall
22be deemed to be action taken by Governors State University.
23    The title to all other property, whether real, personal or
24mixed, belonging to or under the jurisdiction of the Board of
25Governors of State Colleges and Universities for Governors
26State University is hereby transferred to and vested in the

 

 

09700SB0337sam001- 86 -LRB097 04130 NHT 54131 a

1Board of Trustees of Governors State University to be held for
2the People of the State of Illinois for such University.
3(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
4    Section 35. The Illinois State University Law is amended by
5changing Section 20-35 as follows:
 
6    (110 ILCS 675/20-35)
7    Sec. 20-35. Transfer of powers, duties, assets;
8outstanding contracts, agreements and bonds. All the rights,
9powers and duties vested by law in the Board of Regents and
10relating to the operation, management, control and maintenance
11of Illinois State University are hereby transferred to and
12vested in the Board of Trustees of Illinois State University.
13    All books, records, papers, documents and pending business
14in any way pertaining to Illinois State University and held by
15the Board of Regents are hereby transferred from the Board of
16Regents to the Board of Trustees of Illinois State University.
17    The employment of the president and all other academic and
18nonacademic personnel of Illinois State University is hereby
19transferred from the Board of Regents to the Board of Trustees
20of Illinois State University, but the status and rights of all
21personnel whose employment is so transferred under the State
22Universities Civil Service System, under the State
23Universities Retirement System and under any other contract or
24benefit plan shall be unaffected thereby.

 

 

09700SB0337sam001- 87 -LRB097 04130 NHT 54131 a

1    No rule or regulation promulgated by the Board of Regents
2prior to the effective date of this Article pursuant to an
3exercise of any right, power, duty, responsibility or matter of
4pending business transferred from the Board of Regents to the
5Board of Trustees of Illinois State University under the
6provisions of this Article shall be affected thereby, and all
7such rules and regulations shall become the rules and
8regulations of the Board of Trustees of Illinois State
9University.
10    All items of income heretofore received by Illinois State
11University and paid into the State Treasury and covered into
12the Board of Regents Income Fund and not heretofore
13appropriated by the General Assembly for the support and
14improvement of Illinois State University under the provisions
15of paragraph (1) of Section 6a-4 of the State Finance Act shall
16be transferred by the State Treasurer and covered into the
17Illinois State University Income Fund for appropriations from
18time to time to be made by the General Assembly payable from
19such fund for the support and improvement of Illinois State
20University as provided in paragraph (1) of Section 6a-1b of
21that Act; provided that within 10 days after the effective date
22of this amendatory Act of 1996, all moneys then remaining in
23the Illinois State University Income Fund heretofore
24established as a special fund in the State Treasury shall be
25repaid to the University to be deposited and credited to the
26University Income Fund established by Illinois State

 

 

09700SB0337sam001- 88 -LRB097 04130 NHT 54131 a

1University in its own treasury as provided in paragraph (1) of
2Section 6a-1b of the State Finance Act.
3    The right of custody, possession and control over all items
4of income, funds or deposits in any way pertaining to Illinois
5State University, which on the effective date of this Article
6are held or retained by, or under the jurisdiction of the Board
7of Regents under the authority of paragraph (2) of Section 6a-4
8of the State Finance Act, is hereby transferred to and vested
9in the Board of Trustees of Illinois State University to be
10retained by the University in its own treasury, or deposited
11with a bank or savings and loan association, all in accordance
12with the provisions of paragraphs (2) and (6) of Section 6a-1b
13of that Act.
14    There is hereby transferred from the Board of Regents to
15the Board of Trustees of Illinois State University the power of
16order and direction over the disbursement of those funds which
17immediately prior to the effective date of this Article were
18retained by Illinois State University in its own treasury under
19the authority of paragraph (3) of Section 6a-4 of the State
20Finance Act; provided that such funds shall be disbursed from
21time to time pursuant to the order and direction of the Board
22of Trustees in accordance with any contracts, pledges, trusts
23or agreements heretofore made with respect to the use or
24application of such funds by the Teachers College Board, the
25Board of Governors of State Colleges and Universities or the
26Board of Regents.

 

 

09700SB0337sam001- 89 -LRB097 04130 NHT 54131 a

1    Illinois State University shall succeed to, assume and
2exercise all rights, powers, duties and responsibilities
3formerly exercised by the Board of Regents on behalf of
4Illinois State University prior to the effective date of this
5Article. All contracts and agreements entered into by the Board
6of Regents on behalf of Illinois State University prior to the
7effective date of this Article shall be valid and shall subsist
8notwithstanding the abolition of the Board of Regents and the
9repeal of the Regency Universities Act and notwithstanding the
10transfer or the functions of the Board of Regents with respect
11to Illinois State University to the Board of Trustees of
12Illinois State University. All bonds, notes, and other
13evidences of indebtedness outstanding on the effective date of
14this Article issued by the Teachers College Board, Board of
15Governors of State Colleges and Universities or the Board of
16Regents on behalf of Illinois State University shall become the
17bonds, notes or other evidences of indebtedness of Illinois
18State University and shall be otherwise unaffected by the
19transfer of functions to Illinois State University. Any action,
20including without limitation, approvals of applications for
21bonds and resolutions constituting official action under the
22Internal Revenue Code by the Teachers College Board, Board of
23Governors of State Colleges and Universities or Board of
24Regents prior to the effective date of this Article shall
25remain effective to the same extent as if that action had been
26taken by Illinois State University and shall be deemed to be

 

 

09700SB0337sam001- 90 -LRB097 04130 NHT 54131 a

1action taken by Illinois State University.
2    The title to all other property, whether real, personal or
3mixed, belonging to or under the jurisdiction of the Board of
4Regents for Illinois State University is hereby transferred to
5and vested in the Board of Trustees of Illinois State
6University to be held for the People of the State of Illinois
7for such University.
8(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
9    Section 40. The Northeastern Illinois University Law is
10amended by changing Section 25-35 as follows:
 
11    (110 ILCS 680/25-35)
12    Sec. 25-35. Transfer of powers, duties, assets;
13outstanding contracts, agreements and bonds. All the rights,
14powers and duties vested by law in the Board of Governors of
15State Colleges and Universities and relating to the operation,
16management, control and maintenance of Northeastern Illinois
17University are hereby transferred to and vested in the Board of
18Trustees of Northeastern Illinois University.
19    All books, records, papers, documents and pending business
20in any way pertaining to Northeastern Illinois University and
21held by the Board of Governors of State Colleges and
22Universities are hereby transferred from the Board of Governors
23of State Colleges and Universities to the Board of Trustees of
24Northeastern Illinois University.

 

 

09700SB0337sam001- 91 -LRB097 04130 NHT 54131 a

1    The employment of the president and all other academic and
2nonacademic personnel of Northeastern Illinois University is
3hereby transferred from the Board of Governors of State
4Colleges and Universities to the Board of Trustees of
5Northeastern Illinois University, but the status and rights of
6all personnel whose employment is so transferred under the
7State Universities Civil Service System, under the State
8Universities Retirement System and under any other contract or
9benefit plan shall be unaffected thereby.
10    No rule or regulation promulgated by the Board of Governors
11of State Colleges and Universities prior to the effective date
12of this Article pursuant to an exercise of any right, power,
13duty, responsibility or matter of pending business transferred
14from the Board of Governors of State Colleges and Universities
15to the Board of Trustees of Northeastern Illinois University
16under the provisions of this Article shall be affected thereby,
17and all such rules and regulations shall become the rules and
18regulations of the Board of Trustees of Northeastern Illinois
19University.
20    All items of income heretofore received by Northeastern
21Illinois University and paid into the State Treasury and
22covered into the Board of Governors of State Colleges and
23Universities Income Fund and not heretofore appropriated by the
24General Assembly for the support and improvement of
25Northeastern Illinois University under the provisions of
26paragraph (1) of Section 6a of the State Finance Act shall be

 

 

09700SB0337sam001- 92 -LRB097 04130 NHT 54131 a

1transferred by the State Treasurer and covered into the
2Northeastern Illinois University Income Fund for
3appropriations from time to time to be made by the General
4Assembly payable from such fund for the support and improvement
5of Northeastern Illinois University as provided in paragraph
6(1) of Section 6a-1f of that Act; provided that within 10 days
7after the effective date of this amendatory Act of 1996, all
8moneys then remaining in the Northeastern Illinois University
9Income Fund heretofore established as a special fund in the
10State Treasury shall be repaid to the University to be
11deposited and credited to the University Income Fund
12established by Northeastern Illinois University in its own
13treasury as provided in paragraph (1) of Section 6a-1f of the
14State Finance Act.
15    The right of custody, possession and control over all items
16of income, funds or deposits in any way pertaining to
17Northeastern Illinois University, which on the effective date
18of this Article are held or retained by, or under the
19jurisdiction of the Board of Governors of State Colleges and
20Universities under the authority of paragraph (2) of Section 6a
21of the State Finance Act, is hereby transferred to and vested
22in the Board of Trustees of Northeastern Illinois University to
23be retained by the University in its own treasury, or deposited
24with a bank or savings and loan association, all in accordance
25with the provisions of paragraphs (2) and (6) of Section 6a-1f
26of that Act.

 

 

09700SB0337sam001- 93 -LRB097 04130 NHT 54131 a

1    There is hereby transferred from the Board of Governors of
2State Colleges and Universities to the Board of Trustees of
3Northeastern Illinois University the power of order and
4direction over the disbursement of those funds which
5immediately prior to the effective date of this Article were
6retained by Northeastern Illinois University in its own
7treasury under the authority of Section 6a-2 of the State
8Finance Act; provided that such funds shall be disbursed from
9time to time pursuant to the order and direction of the Board
10of Trustees in accordance with any contracts, pledges, trusts
11or agreements heretofore made with respect to the use or
12application of such funds by the Teachers College Board or the
13Board of Governors of State Colleges and Universities.
14    Northeastern Illinois University shall succeed to, assume
15and exercise all rights, powers, duties and responsibilities
16formerly exercised by the Board of Governors of State Colleges
17and Universities on behalf of Northeastern Illinois University
18prior to the effective date of this Article. All contracts and
19agreements entered into by the Board of Governors of State
20Colleges and Universities on behalf of Northeastern Illinois
21University prior to the effective date of this Article shall be
22valid and shall subsist notwithstanding the abolition of the
23Board of Governors of State Colleges and Universities and the
24repeal of the Board of Governors Act and notwithstanding the
25transfer or the functions of the Board of Governors of State
26Colleges and Universities with respect to Northeastern

 

 

09700SB0337sam001- 94 -LRB097 04130 NHT 54131 a

1Illinois University to the Board of Trustees of Northeastern
2Illinois University. All bonds, notes, and other evidences of
3indebtedness outstanding on the effective date of this Article
4issued by the Teachers College Board or the Board of Governors
5of State Colleges and Universities on behalf of Northeastern
6Illinois University shall become the bonds, notes or other
7evidences of indebtedness of Northeastern Illinois University
8and shall be otherwise unaffected by the transfer of functions
9to Northeastern Illinois University. Any action, including
10without limitation, approvals of applications for bonds and
11resolutions constituting official action under the Internal
12Revenue Code by the Teachers College Board or Board of
13Governors of State Colleges and Universities prior to the
14effective date of this Article shall remain effective to the
15same extent as if that action had been taken by Northeastern
16Illinois University and shall be deemed to be action taken by
17Northeastern Illinois University.
18    The title to all other property, whether real, personal or
19mixed, belonging to or under the jurisdiction of the Board of
20Governors of State Colleges and Universities for Northeastern
21Illinois University is hereby transferred to and vested in the
22Board of Trustees of Northeastern Illinois University to be
23held for the People of the State of Illinois for such
24University.
25(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 

 

 

09700SB0337sam001- 95 -LRB097 04130 NHT 54131 a

1    Section 45. The Northern Illinois University Law is amended
2by changing Section 30-35 as follows:
 
3    (110 ILCS 685/30-35)
4    Sec. 30-35. Transfer of powers, duties, assets;
5outstanding contracts, agreements and bonds. All the rights,
6powers and duties vested by law in the Board of Regents and
7relating to the operation, management, control and maintenance
8of Northern Illinois University are hereby transferred to and
9vested in the Board of Trustees of Northern Illinois
10University.
11    All books, records, papers, documents and pending business
12in any way pertaining to Northern Illinois University and held
13by the Board of Regents are hereby transferred from the Board
14of Regents to the Board of Trustees of Northern Illinois
15University.
16    The employment of the president and all other academic and
17nonacademic personnel of Northern Illinois University is
18hereby transferred from the Board of Regents to the Board of
19Trustees of Northern Illinois University, but the status and
20rights of all personnel whose employment is so transferred
21under the State Universities Civil Service System, under the
22State Universities Retirement System and under any other
23contract or benefit plan shall be unaffected thereby.
24    No rule or regulation promulgated by the Board of Regents
25prior to the effective date of this Article pursuant to an

 

 

09700SB0337sam001- 96 -LRB097 04130 NHT 54131 a

1exercise of any right, power, duty, responsibility or matter of
2pending business transferred from the Board of Regents to the
3Board of Trustees of Northern Illinois University under the
4provisions of this Article shall be affected thereby, and all
5such rules and regulations shall become the rules and
6regulations of the Board of Trustees of Northern Illinois
7University.
8    All items of income heretofore received by Northern
9Illinois University and paid into the State Treasury and
10covered into the Board of Regents Income Fund and not
11heretofore appropriated by the General Assembly for the support
12and improvement of Northern Illinois University under the
13provisions of paragraph (1) of Section 6a-4 of the State
14Finance Act shall be transferred by the State Treasurer and
15covered into the Northern Illinois University Income Fund for
16appropriations from time to time to be made by the General
17Assembly payable from such fund for the support and improvement
18of Northern Illinois University as provided in paragraph (1) of
19Section 6a-1a of that Act; provided that within 10 days after
20the effective date of this amendatory Act of 1996, all moneys
21then remaining in the Northern Illinois University Income Fund
22heretofore established as a special fund in the State Treasury
23shall be repaid to the University to be deposited and credited
24to the University Income Fund established by Northern Illinois
25University in its own treasury as provided in paragraph (1) of
26Section 6a-1a of the State Finance Act.

 

 

09700SB0337sam001- 97 -LRB097 04130 NHT 54131 a

1    The right of custody, possession and control over all items
2of income, funds or deposits in any way pertaining to Northern
3Illinois University, which on the effective date of this
4Article are held or retained by, or under the jurisdiction of
5the Board of Regents under the authority of paragraph (2) of
6Section 6a-4 of the State Finance Act, is hereby transferred to
7and vested in the Board of Trustees of Northern Illinois
8University to be retained by the University in its own
9treasury, or deposited with a bank or savings and loan
10association, all in accordance with the provisions of
11paragraphs (2) and (6) of Section 6a-1a of that Act.
12    There is hereby transferred from the Board of Regents to
13the Board of Trustees of Northern Illinois University the power
14of order and direction over the disbursement of those funds
15which immediately prior to the effective date of this Article
16were retained by Northern Illinois University in its own
17treasury under the authority of paragraph (3) of Section 6a-4
18of the State Finance Act; provided that such funds shall be
19disbursed from time to time pursuant to the order and direction
20of the Board of Trustees in accordance with any contracts,
21pledges, trusts or agreements heretofore made with respect to
22the use or application of such funds by the Teachers College
23Board, the Board of Governors of State Colleges and
24Universities or the Board of Regents.
25    Northern Illinois University shall succeed to, assume and
26exercise all rights, powers, duties and responsibilities

 

 

09700SB0337sam001- 98 -LRB097 04130 NHT 54131 a

1formerly exercised by the Board of Regents on behalf of
2Northern Illinois University prior to the effective date of
3this Article. All contracts and agreements entered into by the
4Board of Regents on behalf of Northern Illinois University
5prior to the effective date of this Article shall be valid and
6shall subsist notwithstanding the abolition of the Board of
7Regents and the repeal of the Regency Universities Act and
8notwithstanding the transfer of the functions of the Board of
9Regents with respect to Northern Illinois University to the
10Board of Trustees of Northern Illinois University. All bonds,
11notes, and other evidences of indebtedness outstanding on the
12effective date of this Article issued by the Teachers College
13Board, the Board of Governors of State Colleges and
14Universities or the Board of Regents on behalf of Northern
15Illinois University shall become the bonds, notes or other
16evidences of indebtedness of Northern Illinois University and
17shall be otherwise unaffected by the transfer of functions to
18Northern Illinois University. Any action, including without
19limitation, approvals of applications for bonds and
20resolutions constituting official action under the Internal
21Revenue Code by the Teachers College Board, Board of Governors
22of State Colleges and Universities or Board of Regents prior to
23the effective date of this Article shall remain effective to
24the same extent as if that action had been taken by Northern
25Illinois University and shall be deemed to be action taken by
26Northern Illinois University.

 

 

09700SB0337sam001- 99 -LRB097 04130 NHT 54131 a

1    The title to all other property, whether real, personal or
2mixed, belonging to or under the jurisdiction of the Board of
3Regents for Northern Illinois University is hereby transferred
4to and vested in the Board of Trustees of Northern Illinois
5University to be held for the People of the State of Illinois
6for such University.
7(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
8    Section 50. The Western Illinois University Law is amended
9by changing Section 35-35 as follows:
 
10    (110 ILCS 690/35-35)
11    Sec. 35-35. Transfer of powers, duties, assets;
12outstanding contracts, agreements and bonds. All the rights,
13powers and duties vested by law in the Board of Governors of
14State Colleges and Universities and relating to the operation,
15management, control and maintenance of Western Illinois
16University are hereby transferred to and vested in the Board of
17Trustees of Western Illinois University.
18    All books, records, papers, documents and pending business
19in any way pertaining to Western Illinois University and held
20by the Board of Governors of State Colleges and Universities
21are hereby transferred from the Board of Governors of State
22Colleges and Universities to the Board of Trustees of Western
23Illinois University.
24    The employment of the president and all other academic and

 

 

09700SB0337sam001- 100 -LRB097 04130 NHT 54131 a

1nonacademic personnel of Western Illinois University is hereby
2transferred from the Board of Governors of State Colleges and
3Universities to the Board of Trustees of Western Illinois
4University, but the status and rights of all personnel whose
5employment is so transferred under the State Universities Civil
6Service System, under the State Universities Retirement System
7and under any other contract or benefit plan shall be
8unaffected thereby.
9    No rule or regulation promulgated by the Board of Governors
10of State Colleges and Universities prior to the effective date
11of this Article pursuant to an exercise of any right, power,
12duty, responsibility or matter of pending business transferred
13from the Board of Governors of State Colleges and Universities
14to the Board of Trustees of Western Illinois University under
15the provisions of this Article shall be affected thereby, and
16all such rules and regulations shall become the rules and
17regulations of the Board of Trustees of Western Illinois
18University.
19    All items of income heretofore received by Western Illinois
20University and paid into the State Treasury and covered into
21the Board of Governors of State Colleges and Universities
22Income Fund and not heretofore appropriated by the General
23Assembly for the support and improvement of Western Illinois
24University under the provisions of paragraph (1) of Section 6a
25of the State Finance Act shall be transferred by the State
26Treasurer and covered into the Western Illinois University

 

 

09700SB0337sam001- 101 -LRB097 04130 NHT 54131 a

1Income Fund for appropriations from time to time to be made by
2the General Assembly payable from such fund for the support and
3improvement of Western Illinois University as provided in
4paragraph (1) of Section 6a-1g of that Act; provided that
5within 10 days after the effective date of this amendatory Act
6of 1996, all moneys then remaining in the Western Illinois
7University Income Fund heretofore established as a special fund
8in the State Treasury shall be repaid to the University to be
9deposited and credited to the University Income Fund
10established by Western Illinois University in its own treasury
11as provided in paragraph (1) of Section 6a-1g of the State
12Finance Act.
13    The right of custody, possession and control over all items
14of income, funds or deposits in any way pertaining to Western
15Illinois University, which on the effective date of this
16Article are held or retained by, or under the jurisdiction of
17the Board of Governors of State Colleges and Universities under
18the authority of paragraph (2) of Section 6a of the State
19Finance Act, is hereby transferred to and vested in the Board
20of Trustees of Western Illinois University to be retained by
21the University in its own treasury, or deposited with a bank or
22savings and loan association, all in accordance with the
23provisions of paragraphs (2) and (6) of Section 6a-1g of that
24Act.
25    There is hereby transferred from the Board of Governors of
26State Colleges and Universities to the Board of Trustees of

 

 

09700SB0337sam001- 102 -LRB097 04130 NHT 54131 a

1Western Illinois University the power of order and direction
2over the disbursement of those funds which immediately prior to
3the effective date of this Article were retained by Western
4Illinois University in its own treasury under the authority of
5Section 6a-2 of the State Finance Act; provided that such funds
6shall be disbursed from time to time pursuant to the order and
7direction of the Board of Trustees in accordance with any
8contracts, pledges, trusts or agreements heretofore made with
9respect to the use or application of such funds by the Teachers
10College Board or the Board of Governors of State Colleges and
11Universities.
12    Western Illinois University shall succeed to, assume and
13exercise all rights, powers, duties and responsibilities
14formerly exercised by the Board of Governors of State Colleges
15and Universities on behalf of Western Illinois University prior
16to the effective date of this Article. All contracts and
17agreements entered into by the Board of Governors of State
18Colleges and Universities on behalf of Western Illinois
19University prior to the effective date of this Article shall be
20valid and shall subsist notwithstanding the abolition of the
21Board of Governors of State Colleges and Universities and the
22repeal of the Board of Governors Act and notwithstanding the
23transfer or the functions of the Board of Governors of State
24Colleges and Universities with respect to Western Illinois
25University to the Board of Trustees of Western Illinois
26University. All bonds, notes, and other evidences of

 

 

09700SB0337sam001- 103 -LRB097 04130 NHT 54131 a

1indebtedness outstanding on the effective date of this Article
2issued by the Teachers College Board or the Board of Governors
3of State Colleges and Universities on behalf of Western
4Illinois University shall become the bonds, notes or other
5evidences of indebtedness of Western Illinois University and
6shall be otherwise unaffected by the transfer of functions to
7Western Illinois University. Any action, including without
8limitation, approvals of applications for bonds and
9resolutions constituting official action under the Internal
10Revenue Code by the Teachers College Board or Board of
11Governors of State Colleges and Universities prior to the
12effective date of this Article shall remain effective to the
13same extent as if that action had been taken by Western
14Illinois University and shall be deemed to be action taken by
15Western Illinois University.
16    The title to all other property, whether real, personal or
17mixed, belonging to or under the jurisdiction of the Board of
18Governors of State Colleges and Universities for Western
19Illinois University is hereby transferred to and vested in the
20Board of Trustees of Western Illinois University to be held for
21the People of the State of Illinois for such University.
22(Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
 
23    Section 99. Effective date. This Act takes effect July 1,
242011.".