SB1884 Summary

• Creates the Chicago State University Education Improvement Fund as a special state treasury fund for expenses incurred by Chicago State University.

• Transfers $1,600,000 annually beginning July 1, 2013 from the State Gaming Fund to the Chicago State University Education Improvement Fund.

• Transfers $92,000,000 from the State Gaming Fund to the School Infrastructure Fund and $23,000,000 to the Horse Racing Equity Fund on July 1, 2013.

• Establishes monthly transfers of $5,530,000 from the State Gaming Fund to the School Infrastructure Fund beginning July 1, 2013.

• Modifies advance deposit wagering provisions in the Illinois Horse Racing Act, extending the authorization deadline from January 1, 2013 to January 31, 2014, and imposes a 0.18% surcharge on advance deposit wagering winnings to fund standardbred horse racing purses.