IL HB5003

Amends the State Board of Education Special Purpose Trust Fund to explicitly include royalty payments received from licensing agreements and other agreements

Requires all royalty payments to be deposited into the State Board of Education Special Purpose Trust Fund, regardless of the original fund source

Specifies that royalty payments may be expended subject to General Assembly appropriation and in a manner consistent with law

Maintains existing provisions allowing the fund to receive indirect costs from federal programs and gifts, grants, or donations from public or private sources

Takes effect upon becoming law