101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB3710

 

Introduced 2/14/2020, by Sen. Chapin Rose

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 769/25-15

    Amends the Private Colleges and Universities Capital Distribution Formula Act. Provides that if an institution received a grant under the Act and subsequently fails to meet the definition of "independent college" due to the institution being acquired and operated by the University of Illinois at Chicago, the entire balance of the grant remaining on the date the acquired former independent college ceased operations and came under the control of the University of Illinois at Chicago, including any amount that had been withheld after the acquired former independent college ceased operations, shall be re-distributed as provided under specified provisions from moneys made available for use by the Office of the Chancellor of the University of Illinois at Chicago in the amount of $934,013.79. Specifies that the provisions apply to any acquisition of an independent college by University of Illinois at Chicago occurring on and after August 15, 2019 and before January 1, 2020.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB3710LRB101 19907 CMG 69428 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Private Colleges and Universities Capital
5Distribution Formula Act is amended by changing Section 25-15
6as follows:
 
7    (30 ILCS 769/25-15)
8    Sec. 25-15. Transfer of funds to another independent
9college.
10    (a) If an institution received a grant under this Article
11and subsequently fails to meet the definition of "independent
12college", the remaining funds shall be re-distributed as
13provided in Section 25-10, unless the campus or facilities for
14which the grant was given are operated by another institution
15that qualifies as an independent college under this Article.
16    (a-5) Notwithstanding the provisions of subsection (a), if
17an institution received a grant under this Article and
18subsequently fails to meet the definition of "independent
19college" due to the institution being acquired and operated by
20the University of Illinois at Chicago, the entire balance of
21the grant provided under this Article remaining on the date the
22acquired former independent college ceased operations and came
23under the control of the University of Illinois at Chicago,

 

 

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1including any amount that had been withheld after the acquired
2former independent college ceased operations, shall be
3re-distributed as provided under Section 25-10 from moneys made
4available for use by the Office of the Chancellor of the
5University of Illinois at Chicago in the amount of $934,013.79.
6The provisions of this subsection (a-5) apply to any
7acquisition of an independent college by the University of
8Illinois at Chicago occurring on and after August 15, 2019 and
9before January 1, 2020.
10    (b) If the facilities of a former independent college are
11operated by another entity that qualifies as an independent
12college as provided in subsection (a) of this Section, then the
13entire balance of the grant provided under this Article
14remaining on the date the former independent college ceased
15operations, including any amount that had been withheld after
16the former independent college ceased operations, shall be
17transferred to the successor independent college for the
18purpose of operating those facilities for the duration of the
19grant.
20    (c) In the event that, on or before the effective date of
21this amendatory Act of the 98th General Assembly, the remaining
22funds have been re-allocated or re-distributed to other
23independent colleges, or the Illinois Board of Higher Education
24has planned for the remaining funds to be re-allocated or
25re-distributed to other independent colleges, before the
265-year period provided under this Act for the utilization of

 

 

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1funds has ended, any funds so re-allocated or re-distributed
2shall be deducted from future allocations to those other
3independent colleges and re-allocated or re-distributed to the
4initial institution or the successor entity operating the
5facilities of the original institution if: (i) the institution
6that failed to meet the definition of "independent college"
7once again meets the definition of "independent college" before
8the 5-year period has expired; or (ii) the facility or
9facilities of the former independent college are operated by
10another entity that qualifies as an independent college before
11the 5-year period has expired.
12(Source: P.A. 101-10, eff. 6-5-19.)