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92_HB4333eng HB4333 Engrossed LRB9214383NTpk 1 AN ACT relating to public community colleges. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Public Community College Act is amended 5 by changing Section 2-16.05 as follows: 6 (110 ILCS 805/2-16.05) 7 Sec. 2-16.05. The Academic Improvement Trust Fund for 8 Community College Foundations. 9 (a) The Academic Improvement Trust Fund for Community 10 College Foundations is created in the State treasury. All 11 moneys transferred, credited, deposited, or otherwise paid to 12 the Fund as provided in this Section shall be promptly 13 invested by the State Treasurer in accordance with law, and 14 all interest and other earnings accruing or received thereon 15 shall be credited and paid to the Fund. No moneys, interest, 16 or earnings transferred, credited, deposited, or otherwise 17 paid to the Academic Improvement Trust Fund for Community 18 College Foundations shall be transferred or allocated by the 19 Comptroller or Treasurer to any other fund, nor shall the 20 Governor authorize any such transfer or allocation, nor shall 21 any moneys, interest, or earnings transferred, credited, 22 deposited, or otherwise paid to the Fund be used, temporarily 23 or otherwise, for interfund borrowing, or be otherwise used 24 or appropriated, except to encourage private support in 25 enhancing community college foundations by providing 26 community college foundations with the opportunity to receive 27 and match challenge grants as provided in this Section. 28 (b) On the first day of fiscal year 2000 and each fiscal 29 year thereafter, or as soon thereafter as may be practicable, 30 the Comptroller shall order the transfer and the Treasurer 31 shall transfer from the General Revenue Fund to the Academic HB4333 Engrossed -2- LRB9214383NTpk 1 Improvement Trust Fund for Community College Foundations the 2 amount of the fiscal year appropriation made to the State 3 Board for making challenge grants to community college 4 foundations as provided in this Section. 5 (c) For each fiscal year in which an appropriation and 6 transfer are made as provided in subsection (b), moneys 7 sufficient to provide each community college foundation with 8 the opportunity to match at least one $25,000 challenge grant 9 shall be reserved from moneys in the Academic Improvement 10 Trust Fund for Community College Foundations, and the balance 11 of the moneys in the Fund shall be available for matching by 12 any community college foundation. Moneys in the Academic 13 Improvement Trust Fund for Community College Foundations that 14 remain unmatched by contribution or pledge on April 1 of the 15 fiscal year in which an appropriation and transfer are made 16 as provided in subsection (b) shall also be available for 17 matching by any community college foundation, along with any 18 interest or earnings accruing to the unmatched portion of the 19 Fund. If for any fiscal year in which an appropriation and 20 transfer are made as provided in subsection (b) there are not 21 sufficient moneys which may be reserved in the Academic 22 Improvement Trust Fund for Community College Foundations to 23 provide each community college foundation with the 24 opportunity to match at least one $25,000 challenge grant, 25 the amount of the challenge grant that each community college 26 foundation shall have the opportunity to match for the fiscal 27 year shall be reduced from $25,000 to an amount equal to the 28 result obtained when the total of all moneys, interest, and 29 earnings in the Fund immediately following the appropriation 30 and transfer made for the fiscal year is divided by the 31 number of community college foundations then existing in this 32 State. The State Board shall promulgate rules prescribing 33 the form and content of applications made by community 34 college foundations for challenge grants under this Section. HB4333 Engrossed -3- LRB9214383NTpk 1 These rules shall provide all community college foundations 2 with an opportunity to apply for challenge grants to be 3 awarded from any moneys in the Academic Improvement Trust 4 Fund for Community College Foundations in excess of the 5 moneys required to be reserved in the Fund for the purpose of 6 providing each community college foundation with the 7 opportunity to match at least one $25,000 challenge grant; 8 and the opportunity to apply for challenge grants to be 9 awarded from the excess moneys shall be afforded to all 10 community college foundations prior to awarding any challenge 11 grants from the excess moneys. No community college 12 foundation shall receive more than $100,000 in challenge 13 grants awarded from the excess moneys. 14 (d) Challenge grants shall be proportionately allocated 15 from the Academic Improvement Trust Fund for Community 16 College Foundations on the basis of matching each $2 of State 17 funds with $3 of local funds. The matching funds shall come 18 from contributions made on or after July 1 of a fiscal year,191999, which are pledged for the purpose of matching challenge 20 grants. To be eligible, a minimum of $10,000 must be raised 21 from private sources, and the contributions must be in excess 22 of the total average annual cash contributions made to the 23 foundation at each community college district in the prior 3 24 fiscal yearsbefore July 1, 1999. 25 (e) Funds sufficient to provide the match shall be paid, 26 subject to appropriation, from the Academic Improvement Trust 27 Fund for Community College Foundations to the community 28 college foundation in increments of $5,000, after the initial 29 $10,000 is matched and released, and upon certification to 30 the Comptroller by the State Board that a proportionate 31 amount has been received and deposited by the community 32 college foundation in its own trust fund. However, no 33 community college foundation may receive more than $100,000, 34 above the original allocation, from the Academic Improvement HB4333 Engrossed -4- LRB9214383NTpk 1 Trust Fund for Community College Foundations in any fiscal 2 year. 3 (f) The State Board shall certify, prepare, and submit 4 to the Comptroller vouchers setting forth the amount of each 5 challenge grant from time to time to be proportionately 6 allocated in accordance with this Section from the Academic 7 Improvement Trust Fund for Community College Foundations to 8 the community college foundation entitled to receive the 9 challenge grant, and the Comptroller shall cause his or her 10 warrants to be drawn for the respective amounts due, payable 11 from the Fund to the foundation. 12 (g) The board of each community college foundation shall 13 establish an academic improvement trust fund as a depository 14 for the private contributions and challenge grants allocated 15 to any such community college foundation from the Academic 16 Improvement Trust Fund for Community College Foundations. 17 Each community college foundation is responsible for the 18 maintenance, investment, and administration of its academic 19 improvement trust fund. 20 (h) The board of the community college foundation is 21 responsible for determining the uses for the proceeds of the 22 academic improvement trust fund established. Such uses may 23 include: 24 (1) scientific and technical equipment; 25 (2) professional development and training for 26 faculty; and 27 (3) student scholarships and other activities 28 appropriate to improving the quality of education at the 29 community college. 30 (i) The State Board may promulgate such additional rules 31 as are required to provide for the efficient operation and 32 administration of the challenge grant program established by 33 this Section. 34 (j) Nothing in this Section shall be construed to cause HB4333 Engrossed -5- LRB9214383NTpk 1 the identity of an anonymous donor to be revealed. 2 (Source: P.A. 91-664, eff. 12-22-99; 92-16, eff. 6-28-01.)