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IL SB3674
Bill
AI Summary
- Amends Section 18-1 of the School Code (105 ILCS 5/18-1) concerning the Common School Fund
- Makes a technical change to correct grammar by replacing "The" with "The" at the beginning of the section describing moneys constituting the fund
- Maintains existing provisions 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
- Preserves requirement that interest on the school fund proper and surplus revenue be paid annually by the State at the rate of 6% and distributed as provided by law
Legislative Description
EDUCATION-TECH
Last Action
Session Sine Die
1/8/2013
Committee Referrals
Assignments2/10/2012
Full Bill Text
No bill text available