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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB4790
Introduced , by Rep. Karen May SYNOPSIS AS INTRODUCED: |
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Amends the Illinois Prepaid Tuition Act. Subject to appropriation, provides that on July 1, 2008 or as soon thereafter as may be practical, the Illinois Student Assistance Commission shall deposit $200 into each individual participant account created in the Illinois Prepaid Tuition Trust Fund. Provides that if the amount appropriated is insufficient to deposit $200 into each individual participant account, then the total amount appropriated must be divided equally among all individual participant accounts. Effective July 1, 2008.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB4790 |
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LRB095 18245 NHT 44329 b |
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| AN ACT concerning education.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Prepaid Tuition Act is amended by |
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| adding Section 75 as follows: |
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| (110 ILCS 979/75 new) |
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| Sec. 75. Bonus money for individual participant accounts. |
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| Subject to appropriation, on July 1, 2008 or as soon thereafter |
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| as may be practical, the Commission shall deposit $200 into |
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| each individual participant account created in the Illinois |
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| Prepaid Tuition Trust Fund. If the amount appropriated is |
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| insufficient to deposit $200 into each individual participant |
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| account, then the total amount appropriated must be divided |
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| equally among all individual participant accounts.
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| Section 99. Effective date. This Act takes effect July 1, |
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| 2008.
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