|
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1923 Introduced , by Rep. Jim Durkin SYNOPSIS AS INTRODUCED:
| | 105 ILCS 5/18-1 | from Ch. 122, par. 18-1 |
|
Amends the School Code. Makes a technical change in a Section concerning the
Common School Fund.
|
| |
| | A BILL FOR |
|
|
| | HB1923 | | LRB100 04598 MLM 14604 b |
|
|
| 1 | | AN ACT concerning education.
|
| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The School Code is amended by changing Section |
| 5 | | 18-1 as follows:
|
| 6 | | (105 ILCS 5/18-1) (from Ch. 122, par. 18-1)
|
| 7 | | Sec. 18-1. Moneys
constituting fund. The The common school |
| 8 | | fund of the state shall consist of any sums accredited
thereto |
| 9 | | in pursuance of law, of the interest on the school fund proper,
|
| 10 | | which fund is 3% upon the proceeds of the sales of public lands |
| 11 | | in the
State, 1/6 part excepted; and the interest on the |
| 12 | | surplus revenue
distributed by Act of Congress and made part of |
| 13 | | the common school fund by
Act of the legislature, March 4, |
| 14 | | 1837. The interest on the school fund
proper and the surplus |
| 15 | | revenue shall be paid by the State annually at the
rate of 6%, |
| 16 | | and shall be distributed as provided by law.
|
| 17 | | (Source: Laws 1961, p. 31.)
|