Sec. 31-35. Deposit of tax revenue.
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/il/chapter-35/act-200/31-35A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 31-35. Deposit of tax revenue.
(a)Beginning on June 6, 2002 (the effective date of Public Act 92-536) and through June 30, 2003, of the moneys collected under Section 31-15, 50% shall be deposited into the Illinois Affordable Housing Trust Fund, 20% into the Open Space Lands Acquisition and Development Fund, 5% into the Natural Areas Acquisition Fund, and 25% into the General Revenue Fund.
(b)Beginning July 1, 2003, and through June 30, 2025, of the moneys collected under Section 31-15, 50% shall be deposited into the Illinois Affordable Housing Trust Fund, 35% into the Open Space Lands Acquisition and Development Fund, and 15% into the Natural Areas Acquisition Fund.
(c)Beginning July 1, 2025, of the moneys collected under Section 31-15, the first $300,000 shall be deposited into the Governor's Administrative Fund each fiscal year. After all required deposits into the Governor's Administrative Fund have been made, the remainder shall be deposited as follows:
(1)50% into the Illinois Affordable Housing Trust Fund;
(2)35% into the Open Space Lands Acquisition and Development Fund; and
(3)15% into the Natural Areas Acquisition Fund.