State of Illinois
92nd General Assembly
Legislation

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92_HB4333

 
                                               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
 
                            -2-                LRB9214383NTpk
 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.
 
                            -3-                LRB9214383NTpk
 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
 
                            -4-                LRB9214383NTpk
 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
 
                            -5-                LRB9214383NTpk
 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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