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IL SB1460
Bill
Status
Failed
1/13/2015
Primary Sponsor
David Luechtefeld
Click for details
AI Summary
- Amends Section 18-1 of the School Code (105 ILCS 5/18-1) regarding the Common School Fund
- Makes a technical change by removing the word "The" at the beginning of a sentence and replacing it with an underlined "The"
- Preserves the existing definition that the common school fund consists of sums accredited by law, interest on the school fund proper (3% of public land sales proceeds with 1/6 part excepted), and interest on surplus revenue distributed by Congress
- Maintains the existing requirement that interest on the school fund proper and surplus revenue be paid by the State annually at a rate of 6% and distributed as provided by law
Legislative Description
EDUCATION-TECH
Last Action
Session Sine Die
1/13/2015
Committee Referrals
Assignments2/6/2013
Full Bill Text
No bill text available