[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Enrolled ] |
| [ Re-enrolled ] | [ Senate Amendment 001 ] | [ Senate Amendment 002 ] |
91_SB0653ham001
LRB9104091NTsbam01
1 AMENDMENT TO SENATE BILL 653
2 AMENDMENT NO. . Amend Senate Bill 653 on page 1,
3 line 5, after "60", by inserting "and adding Section 113";
4 and
5 on page 13, immediately below line 33, by inserting the
6 following:
7 "(110 ILCS 947/113 new)
8 Sec. 113. Federal Student Loan Fund; Student Loan
9 Operating Fund; Federal Reserve Recall Fund. The Commission
10 shall create the Federal Student Loan Fund, the Student Loan
11 Operating Fund, and the Federal Reserve Recall Fund. At the
12 request of the Commission's Executive Director, the
13 Comptroller shall transfer funds, as necessary, from the
14 Student Assistance Commission Student Loan Fund into the
15 Federal Student Loan Fund, the Student Loan Operating Fund,
16 and the Federal Reserve Recall Fund. On or before August 31,
17 1999, the Commission's Executive Director shall request the
18 Comptroller to transfer all funds from the Student Assistance
19 Commission Student Loan Fund into any of the following funds:
20 the Federal Student Loan Fund, the Student Loan Operating
21 Fund, or the Federal Reserve Recall Fund. On September 1,
22 1999, the Student Assistance Commission Student Loan Fund is
-2- LRB9104091NTsbam01
1 abolished. Any future liabilities of this abolished fund
2 shall be assignable to the appropriate fund created as one of
3 its successors.
4 Section 99. Effective date. This Act takes effect July
5 1, 1999.".