Sec. 605-420. Workforce, Technology, and Economic Development Fund.

184 words·~1 min read·/il/chapter-20/act-605/605-420

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The Department may accept gifts, grants, awards, matching contributions, interest income, appropriations, and cost sharings from individuals, businesses, governments, and other third-party sources, on terms that the Director deems advisable, for any or all of the following purposes:

(1)(blank);

(2)to assist economically disadvantaged and other youth to make a successful transition

from school to work;

(3)to assist other individuals targeted for services through education, training, and

workforce development programs to obtain employment-related skills and obtain employment;

(4)to identify, develop, commercialize, or promote technology within the State; and

(5)to promote economic development within the State.

(b)The Workforce, Technology, and Economic Development Fund is created as a special fund in the State Treasury. All moneys received under this Section shall be deposited into the Workforce, Technology, and Economic Development Fund.

Moneys received under this Section are subject to appropriation by the General Assembly for purposes consistent with the conditions under which those moneys were received, including, but not limited to, the making of grants and any other purpose authorized by law.