(30 ILCS 705/5)
(from Ch. 127, par. 2305)
Time limit on expenditure of grant funds.
Subject to the restriction
of Section 35 of the State Finance Act, no grant funds may be made available for expenditure by
a grantee for a period longer than 2 years, except where such grant funds
are disbursed in reimbursement of costs previously incurred by the grantee and except as otherwise provided in subsection (d) of Section 5-200 of the School Construction Law.
Any grant funds not expended or legally obligated by the end of the grant
agreement, or during the time limitation to grant fund expenditures set
forth in this Section, must be returned to the grantor agency within 45
days, if the funds are not already on deposit with the grantor agency or
the State Treasurer. Such returned funds shall be deposited into the fund
from which the original
grant disbursement to the grantee was made.
(Source: P.A. 99-606, eff. 7-22-16.)