Sec. 6z-47. Fund for Illinois' Future.

255 words·~1 min read·/il/chapter-30/act-105/6z-47

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(a)The Fund for Illinois' Future is hereby created as a special fund in the State Treasury.

(b)On June 15, 1999 (the effective date of Public Act 91-38), or as soon as possible thereafter, the Comptroller shall order transferred and the Treasurer shall transfer $260,000,000 from the General Revenue Fund to the Fund for Illinois' Future.

On July 15, 2000, or as soon as possible thereafter, the Comptroller shall order transferred and the Treasurer shall transfer $260,000,000 from the General Revenue Fund to the Fund for Illinois' Future.

Revenues in the Fund for Illinois' Future shall include any other funds appropriated or transferred into the Fund.

(c)Moneys in the Fund for Illinois' Future may be appropriated for the making of grants and expenditures for planning, engineering, acquisition, construction, reconstruction, development, improvement, and extension of public infrastructure in the State of Illinois, including grants to local governments for public infrastructure, grants to public elementary and secondary school districts for public infrastructure, grants to universities, colleges, community colleges, and non-profit corporations for public infrastructure, and expenditures for public infrastructure of the State and other related purposes, including but not limited to expenditures for equipment, vehicles, community programs, and recreational facilities.

(d)Moneys in the Fund for Illinois' Future may also be appropriated for the making of grants to local governments, public and private elementary and secondary schools, non-profit corporations, and community-based providers for costs associated with violence prevention, community development, educational programs, social services, community programs, and operational expenses.