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Sen. James T. Meeks
Filed: 3/15/2005
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09400SB0750sam002 |
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SDS094 00131 KAG 30131 a |
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| AMENDMENT TO SENATE BILL 750
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| AMENDMENT NO. ______. Amend Senate Bill 750 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The School Code is amended by changing Section |
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| 18-1 as follows:
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| (105 ILCS 5/18-1) (from Ch. 122, par. 18-1)
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| Sec. 18-1. Moneys
constituting fund. The
The common school |
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| fund of the state shall consist of any sums accredited
thereto |
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| in pursuance of law, of the interest on the school fund proper,
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| which fund is 3% upon the proceeds of the sales of public lands |
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| in the
State, 1/6 part excepted; and the interest on the |
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| surplus revenue
distributed by Act of Congress and made part of |
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| the common school fund by
Act of the legislature, March 4, |
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| 1837. The interest on the school fund
proper and the surplus |
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| revenue shall be paid by the State annually at the
rate of 6%, |
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| and shall be distributed as provided by law. |
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| (Source: Laws 1961, p. 31.)".
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