Bill Text: IL HB4043 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Public Use Trust Act. Provides that the Department of Agriculture, the Department of Natural Resources, and the Abraham Lincoln Presidential Library and Museum (currently, the Department of Agriculture and the Department of Natural Resources only) have the power to enter into a trust agreement with a person or group of persons under which the State agency may receive or collect money or other property from the person or group of persons and may expend such money or property solely for a public purpose within the powers and duties of that State agency and stated in the trust agreement.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4043 Detail]
Download: Illinois-2019-HB4043-Introduced.html
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1 | AN ACT concerning finance.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Public Use Trust Act is amended by changing | |||||||||||||||||||
5 | Section 2 as follows:
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6 | (30 ILCS 160/2) (from Ch. 127, par. 4002)
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7 | (Text of Section before amendment by P.A. 101-48 )
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8 | Sec. 2.
(a) The Department of Agriculture and the | |||||||||||||||||||
9 | Department of Natural
Resources have the
power to enter into a | |||||||||||||||||||
10 | trust agreement with a person or group of persons under
which | |||||||||||||||||||
11 | the State agency may receive or collect money or other property | |||||||||||||||||||
12 | from the
person or group of persons and may expend such money | |||||||||||||||||||
13 | or property solely for a
public purpose within the powers and | |||||||||||||||||||
14 | duties of that State agency and stated in
the trust agreement. | |||||||||||||||||||
15 | The State agency shall be the trustee under any such
trust | |||||||||||||||||||
16 | agreement.
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17 | (b) Money or property received under a trust agreement | |||||||||||||||||||
18 | shall not be
deposited in the State treasury and is not subject | |||||||||||||||||||
19 | to appropriation by the
General Assembly, but shall be held and | |||||||||||||||||||
20 | invested by the trustee separate
and apart from the State | |||||||||||||||||||
21 | treasury. The trustee shall invest money or
property received | |||||||||||||||||||
22 | under a trust agreement as provided for trustees under
the | |||||||||||||||||||
23 | Trusts and Trustees Act or as otherwise provided in the trust |
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1 | agreement.
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2 | (c) The trustee shall maintain detailed records of all | ||||||
3 | receipts and
disbursements in the same manner as required for | ||||||
4 | trustees under the Trusts
and Trustees Act. The trustee shall | ||||||
5 | provide an annual accounting of all
receipts, disbursements, | ||||||
6 | and inventory to all donors to the trust and the
Auditor | ||||||
7 | General. The annual accounting shall be made available to any
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8 | member of the public upon request.
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9 | (Source: P.A. 100-695, eff. 8-3-18.)
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10 | (Text of Section after amendment by P.A. 101-48 )
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11 | Sec. 2.
(a) The Department of Agriculture , and the | ||||||
12 | Department of Natural
Resources , and the Abraham Lincoln | ||||||
13 | Presidential Library and Museum have the
power to enter into a | ||||||
14 | trust agreement with a person or group of persons under
which | ||||||
15 | the State agency may receive or collect money or other property | ||||||
16 | from the
person or group of persons and may expend such money | ||||||
17 | or property solely for a
public purpose within the powers and | ||||||
18 | duties of that State agency and stated in
the trust agreement. | ||||||
19 | The State agency shall be the trustee under any such
trust | ||||||
20 | agreement.
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21 | (b) Money or property received under a trust agreement | ||||||
22 | shall not be
deposited in the State treasury and is not subject | ||||||
23 | to appropriation by the
General Assembly, but shall be held and | ||||||
24 | invested by the trustee separate
and apart from the State | ||||||
25 | treasury. The trustee shall invest money or
property received |
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1 | under a trust agreement as provided for trustees under
the | ||||||
2 | Illinois Trust Code or as otherwise provided in the trust | ||||||
3 | agreement.
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4 | (c) The trustee shall maintain detailed records of all | ||||||
5 | receipts and
disbursements in the same manner as required for | ||||||
6 | trustees under the Illinois Trust Code. The trustee shall | ||||||
7 | provide an annual accounting of all
receipts, disbursements, | ||||||
8 | and inventory to all donors to the trust and the
Auditor | ||||||
9 | General. The annual accounting shall be made available to any
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10 | member of the public upon request.
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11 | (Source: P.A. 100-695, eff. 8-3-18; 101-48, eff. 1-1-20.)
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