Illinois Compiled Statutes 110 ILCS 205/9.41 – Board of Higher Education State Contracts and Grants Fund; creation
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Terms Used In Illinois Compiled Statutes 110 ILCS 205/9.41
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
The Board of Higher Education State Contracts and Grants Fund is created as a special fund in the State treasury. The Board shall deposit into the Fund moneys received from grants, awards, or other financial activities from state or local government agencies, and, where appropriate, other funds made available through contracts with state or local government agencies. Moneys in the Fund may be used by the Board, subject to appropriation, for grants, awards, contracts, and other purposes in accordance with this Act.