Public Act 102-0792
 
HB5003 EnrolledLRB102 24000 CMG 33207 b


  
    AN ACT concerning education.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
 
    Section 5. The School Code is amended  by changing Section 
2-3.127a as follows:
 
    (105 ILCS 5/2-3.127a)
    Sec. 2-3.127a. The State Board of Education Special 
Purpose Trust Fund. The State Board of Education Special 
Purpose Trust Fund is created as a special fund in the State 
treasury.  The State Board of Education shall deposit all 
indirect costs recovered from federal programs into the State 
Board of Education Special Purpose Trust Fund.  These funds may 
be used by the State Board of Education for its ordinary and 
contingent expenses.  Additionally and unless specifically 
directed to be deposited into other funds, all moneys received 
by the State Board of Education from gifts, grants, royalty 
payments, or donations from any source, public or private, 
shall be deposited into the State Board of Education Special 
Purpose Trust Fund.  These funds shall be used, subject to 
appropriation by the General Assembly, by the State Board of 
Education for the purposes established by the gifts, grants, 
royalty payments, or donations. Any royalty payments received 
by the State Board of Education as a result of licensing 
agreements or any other agreements entered into by the State 
Board of Education, regardless of the original fund source, 
shall be deposited into the State Board of Education Special 
Purpose Trust Fund and, subject to appropriation by the 
General Assembly, shall be expended in a manner consistent 
with law.

(Source: P.A. 94-69, eff. 7-1-05; 95-707, eff. 1-11-08.)
 
 
    Section 99. Effective date. This Act takes effect upon 
becoming law. 
  


Effective Date:  5/13/2022