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| | SB0531 Engrossed | | LRB101 04292 RJF 49300 b |
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| 1 | | AN ACT concerning government.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Public Use Trust Act is amended by changing |
| 5 | | Section 2 as follows:
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| 6 | | (30 ILCS 160/2) (from Ch. 127, par. 4002)
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| 7 | | Sec. 2.
(a) The Department of Agriculture, and the |
| 8 | | Department of Natural
Resources, and the Abraham Lincoln |
| 9 | | Presidential Library and Museum have the
power to enter into a |
| 10 | | trust agreement with a person or group of persons under
which |
| 11 | | the State agency may receive or collect money or other property |
| 12 | | from the
person or group of persons and may expend such money |
| 13 | | or property solely for a
public purpose within the powers and |
| 14 | | duties of that State agency and stated in
the trust agreement. |
| 15 | | The State agency shall be the trustee under any such
trust |
| 16 | | agreement.
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| 17 | | (b) Money or property received under a trust agreement |
| 18 | | shall not be
deposited in the State treasury and is not subject |
| 19 | | to appropriation by the
General Assembly, but shall be held and |
| 20 | | invested by the trustee separate
and apart from the State |
| 21 | | treasury. The trustee shall invest money or
property received |
| 22 | | under a trust agreement as provided for trustees under
the |
| 23 | | Trusts and Trustees Act or as otherwise provided in the trust |