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91_HB3344
LRB9111939NTks
1 AN ACT in relation to education.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The School Code is amended by changing
5 Section 18-1 as follows:
6 (105 ILCS 5/18-1) (from Ch. 122, par. 18-1)
7 Sec. 18-1. Moneys constituting common school fund. The
8 common school fund of the state shall consist of any sums
9 accredited thereto in pursuance of law, of the interest on
10 the school fund proper, which fund is 3% upon the proceeds of
11 the sales of public lands in the State, 1/6 part excepted;
12 and the interest on the surplus revenue distributed by Act of
13 Congress and made part of the common school fund by Act of
14 the legislature, March 4, 1837. The interest on the school
15 fund proper and the surplus revenue shall be paid by the
16 State annually at the rate of 6%, and shall be distributed as
17 provided by law.
18 (Source: Laws 1961, p. 31.)