Bill Text: IL HB4785 | 2015-2016 | 99th General Assembly | Introduced


Bill Title: Amends the School Code. Makes a technical change in a Section concerning the Common School Fund.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-04-08 - Rule 19(a) / Re-referred to Rules Committee [HB4785 Detail]

Download: Illinois-2015-HB4785-Introduced.html


99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB4785

Introduced , by Rep. Jim Durkin

SYNOPSIS AS INTRODUCED:
105 ILCS 5/18-1 from Ch. 122, par. 18-1

Amends the School Code. Makes a technical change in a Section concerning the Common School Fund.
LRB099 18043 NHT 42406 b

A BILL FOR

HB4785LRB099 18043 NHT 42406 b
1 AN ACT concerning education.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The School Code is amended by changing Section
518-1 as follows:
6 (105 ILCS 5/18-1) (from Ch. 122, par. 18-1)
7 Sec. 18-1. Moneys constituting fund. The The common school
8fund of the state shall consist of any sums accredited thereto
9in pursuance of law, of the interest on the school fund proper,
10which fund is 3% upon the proceeds of the sales of public lands
11in the State, 1/6 part excepted; and the interest on the
12surplus revenue distributed by Act of Congress and made part of
13the common school fund by Act of the legislature, March 4,
141837. The interest on the school fund proper and the surplus
15revenue shall be paid by the State annually at the rate of 6%,
16and shall be distributed as provided by law.
17(Source: Laws 1961, p. 31.)
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