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IL HB4919
Bill
Status
Failed
1/8/2013
Primary Sponsor
Tom Cross
Click for details
AI Summary
- Amends Section 18-1 of the School Code (105 ILCS 5/18-1) concerning the Common School Fund.
- Makes a technical correction by changing "The" to "The" at the beginning of the section definition.
- Preserves existing language defining the Common School Fund as consisting of sums accredited by law, interest on the school fund proper (3% of public land sales proceeds), and interest on surplus revenue distributed by Congress.
- Maintains the requirement that interest on the school fund proper and surplus revenue be paid annually by the State at a rate of 6% and distributed as provided by law.
Legislative Description
EDUCATION-TECH
Last Action
Session Sine Die
1/8/2013
Committee Referrals
Rules3/30/2012
Executive2/29/2012
Rules2/3/2012
Full Bill Text
No bill text available