FINANCE-COLLEGE-CAPITAL GRANT House SponsorsRep. Jim Durkin-Chad Hays-Patricia R. Bellock, Rich Brauer and Raymond Poe Senate Sponsors(Sen. Michael Connelly) 7/16/2014HousePublic Act . . . . . . . . . 98-0715 30 ILCS 769/25-15 new Amends the Private Colleges and Universities Capital Distribution Formula Act. Provides that if an institution received a certain grant and fails to meet the definition of "independent college" before the term of the grant is ended, the remaining funds shall be re-distributed, unless facilities for which the grant was given are operated by another institution that qualifies as an independent college. Further provides that in the event that the facilities are operated by another institution that qualifies as an independent college, the entire balance of the grant shall be transferred to that successor institution for the duration of the grant. Further provides that in the event that, on or before the effective date of the amendatory Act, the remaining funds have been re-allocated or re-distributed to other independent colleges, or the Illinois Board of Higher Education has planned for the remaining funds to be re-allocated or re-distributed to other independent colleges, before the 5-year period for the utilization of funds has ended, any funds so re-allocated or re-distributed shall be deducted from future allocations to those other independent colleges and be re-allocated or re-distributed to the initial institution or the successor entity operating the facilities of the original institution if: (i) the institution that failed to meet the definition of "independent college" once again meets the definition of "independent college" before the 5-year period has expired; or (ii) the facility or facilities of the former independent college are operated by another entity that qualifies as an "independent college" before the 5-year period has expired. Effective immediately. 1/21/2014HouseFiled with the Clerk by Rep. Jim Durkin 1/22/2014HouseFirst Reading 1/22/2014HouseReferred to Rules Committee 1/28/2014HouseAssigned to Higher Education Committee 2/3/2014HouseAdded Chief Co-Sponsor Rep. Chad Hays 2/4/2014HouseDo Pass / Short Debate Higher Education Committee; 013-000-000 2/5/2014HousePlaced on Calendar 2nd Reading - Short Debate 2/19/2014HouseSecond Reading - Short Debate 2/19/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 2/26/2014HouseThird Reading - Short Debate - Passed 116-000-000 2/26/2014HouseAdded Chief Co-Sponsor Rep. Patricia R. Bellock 2/26/2014HouseAdded Co-Sponsor Rep. Rich Brauer 2/26/2014HouseAdded Co-Sponsor Rep. Raymond Poe 2/27/2014SenateArrive in Senate 2/27/2014SenatePlaced on Calendar Order of First Reading 2/27/2014SenateChief Senate Sponsor Sen. Michael Connelly 2/27/2014SenateFirst Reading 2/27/2014SenateReferred to Assignments 4/23/2014SenateAssigned to Higher Education 5/7/2014SenateDo Pass Higher Education; 009-000-000 5/7/2014SenatePlaced on Calendar Order of 2nd Reading May 8, 2014 5/8/2014SenateSecond Reading 5/8/2014SenatePlaced on Calendar Order of 3rd Reading May 12, 2014 5/20/2014SenateThird Reading - Passed; 057-000-000 5/20/2014HousePassed Both Houses 6/18/2014HouseSent to the Governor 7/16/2014HouseGovernor Approved 7/16/2014HouseEffective Date July 16, 2014 7/16/2014HousePublic Act . . . . . . . . . 98-0715