Illinois General Assembly - Full Text of SB0531
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Full Text of SB0531  101st General Assembly



SB0531 EngrossedLRB101 04292 RJF 49300 b

1    AN ACT concerning government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Public Use Trust Act is amended by changing
5Section 2 as follows:
6    (30 ILCS 160/2)  (from Ch. 127, par. 4002)
7    Sec. 2. (a) The Department of Agriculture, and the
8Department of Natural Resources, and the Abraham Lincoln
9Presidential Library and Museum have the power to enter into a
10trust agreement with a person or group of persons under which
11the State agency may receive or collect money or other property
12from the person or group of persons and may expend such money
13or property solely for a public purpose within the powers and
14duties of that State agency and stated in the trust agreement.
15The State agency shall be the trustee under any such trust
17    (b) Money or property received under a trust agreement
18shall not be deposited in the State treasury and is not subject
19to appropriation by the General Assembly, but shall be held and
20invested by the trustee separate and apart from the State
21treasury. The trustee shall invest money or property received
22under a trust agreement as provided for trustees under the
23Trusts and Trustees Act or as otherwise provided in the trust



SB0531 Engrossed- 2 -LRB101 04292 RJF 49300 b

2    (c) The trustee shall maintain detailed records of all
3receipts and disbursements in the same manner as required for
4trustees under the Trusts and Trustees Act. The trustee shall
5provide an annual accounting of all receipts, disbursements,
6and inventory to all donors to the trust and the Auditor
7General. The annual accounting shall be made available to any
8member of the public upon request.
9(Source: P.A. 100-695, eff. 8-3-18.)