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92_HB4333eng
HB4333 Engrossed LRB9214383NTpk
1 AN ACT relating to public community colleges.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Public Community College Act is amended
5 by changing Section 2-16.05 as follows:
6 (110 ILCS 805/2-16.05)
7 Sec. 2-16.05. The Academic Improvement Trust Fund for
8 Community College Foundations.
9 (a) The Academic Improvement Trust Fund for Community
10 College Foundations is created in the State treasury. All
11 moneys transferred, credited, deposited, or otherwise paid to
12 the Fund as provided in this Section shall be promptly
13 invested by the State Treasurer in accordance with law, and
14 all interest and other earnings accruing or received thereon
15 shall be credited and paid to the Fund. No moneys, interest,
16 or earnings transferred, credited, deposited, or otherwise
17 paid to the Academic Improvement Trust Fund for Community
18 College Foundations shall be transferred or allocated by the
19 Comptroller or Treasurer to any other fund, nor shall the
20 Governor authorize any such transfer or allocation, nor shall
21 any moneys, interest, or earnings transferred, credited,
22 deposited, or otherwise paid to the Fund be used, temporarily
23 or otherwise, for interfund borrowing, or be otherwise used
24 or appropriated, except to encourage private support in
25 enhancing community college foundations by providing
26 community college foundations with the opportunity to receive
27 and match challenge grants as provided in this Section.
28 (b) On the first day of fiscal year 2000 and each fiscal
29 year thereafter, or as soon thereafter as may be practicable,
30 the Comptroller shall order the transfer and the Treasurer
31 shall transfer from the General Revenue Fund to the Academic
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1 Improvement Trust Fund for Community College Foundations the
2 amount of the fiscal year appropriation made to the State
3 Board for making challenge grants to community college
4 foundations as provided in this Section.
5 (c) For each fiscal year in which an appropriation and
6 transfer are made as provided in subsection (b), moneys
7 sufficient to provide each community college foundation with
8 the opportunity to match at least one $25,000 challenge grant
9 shall be reserved from moneys in the Academic Improvement
10 Trust Fund for Community College Foundations, and the balance
11 of the moneys in the Fund shall be available for matching by
12 any community college foundation. Moneys in the Academic
13 Improvement Trust Fund for Community College Foundations that
14 remain unmatched by contribution or pledge on April 1 of the
15 fiscal year in which an appropriation and transfer are made
16 as provided in subsection (b) shall also be available for
17 matching by any community college foundation, along with any
18 interest or earnings accruing to the unmatched portion of the
19 Fund. If for any fiscal year in which an appropriation and
20 transfer are made as provided in subsection (b) there are not
21 sufficient moneys which may be reserved in the Academic
22 Improvement Trust Fund for Community College Foundations to
23 provide each community college foundation with the
24 opportunity to match at least one $25,000 challenge grant,
25 the amount of the challenge grant that each community college
26 foundation shall have the opportunity to match for the fiscal
27 year shall be reduced from $25,000 to an amount equal to the
28 result obtained when the total of all moneys, interest, and
29 earnings in the Fund immediately following the appropriation
30 and transfer made for the fiscal year is divided by the
31 number of community college foundations then existing in this
32 State. The State Board shall promulgate rules prescribing
33 the form and content of applications made by community
34 college foundations for challenge grants under this Section.
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1 These rules shall provide all community college foundations
2 with an opportunity to apply for challenge grants to be
3 awarded from any moneys in the Academic Improvement Trust
4 Fund for Community College Foundations in excess of the
5 moneys required to be reserved in the Fund for the purpose of
6 providing each community college foundation with the
7 opportunity to match at least one $25,000 challenge grant;
8 and the opportunity to apply for challenge grants to be
9 awarded from the excess moneys shall be afforded to all
10 community college foundations prior to awarding any challenge
11 grants from the excess moneys. No community college
12 foundation shall receive more than $100,000 in challenge
13 grants awarded from the excess moneys.
14 (d) Challenge grants shall be proportionately allocated
15 from the Academic Improvement Trust Fund for Community
16 College Foundations on the basis of matching each $2 of State
17 funds with $3 of local funds. The matching funds shall come
18 from contributions made on or after July 1 of a fiscal year,
19 1999, which are pledged for the purpose of matching challenge
20 grants. To be eligible, a minimum of $10,000 must be raised
21 from private sources, and the contributions must be in excess
22 of the total average annual cash contributions made to the
23 foundation at each community college district in the prior 3
24 fiscal years before July 1, 1999.
25 (e) Funds sufficient to provide the match shall be paid,
26 subject to appropriation, from the Academic Improvement Trust
27 Fund for Community College Foundations to the community
28 college foundation in increments of $5,000, after the initial
29 $10,000 is matched and released, and upon certification to
30 the Comptroller by the State Board that a proportionate
31 amount has been received and deposited by the community
32 college foundation in its own trust fund. However, no
33 community college foundation may receive more than $100,000,
34 above the original allocation, from the Academic Improvement
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1 Trust Fund for Community College Foundations in any fiscal
2 year.
3 (f) The State Board shall certify, prepare, and submit
4 to the Comptroller vouchers setting forth the amount of each
5 challenge grant from time to time to be proportionately
6 allocated in accordance with this Section from the Academic
7 Improvement Trust Fund for Community College Foundations to
8 the community college foundation entitled to receive the
9 challenge grant, and the Comptroller shall cause his or her
10 warrants to be drawn for the respective amounts due, payable
11 from the Fund to the foundation.
12 (g) The board of each community college foundation shall
13 establish an academic improvement trust fund as a depository
14 for the private contributions and challenge grants allocated
15 to any such community college foundation from the Academic
16 Improvement Trust Fund for Community College Foundations.
17 Each community college foundation is responsible for the
18 maintenance, investment, and administration of its academic
19 improvement trust fund.
20 (h) The board of the community college foundation is
21 responsible for determining the uses for the proceeds of the
22 academic improvement trust fund established. Such uses may
23 include:
24 (1) scientific and technical equipment;
25 (2) professional development and training for
26 faculty; and
27 (3) student scholarships and other activities
28 appropriate to improving the quality of education at the
29 community college.
30 (i) The State Board may promulgate such additional rules
31 as are required to provide for the efficient operation and
32 administration of the challenge grant program established by
33 this Section.
34 (j) Nothing in this Section shall be construed to cause
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1 the identity of an anonymous donor to be revealed.
2 (Source: P.A. 91-664, eff. 12-22-99; 92-16, eff. 6-28-01.)
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