Illinois Compiled Statutes 110 ILCS 947/77 – Illinois Student Assistance Commission Contracts and Grants Fund
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(a) The Illinois Student Assistance Commission Contracts and Grants Fund is created as a special fund in the State treasury. All gifts, grants, or donations of money received by the Commission must be deposited into this Fund and, where appropriate, other funds made available through contracts with governmental, public, and private agencies or persons may also be deposited into this Fund.
(b) Moneys in the Fund may be used by the Commission, subject to appropriation, for support of the Commission’s student and borrower assistance outreach, research, and training activities.
(b) Moneys in the Fund may be used by the Commission, subject to appropriation, for support of the Commission’s student and borrower assistance outreach, research, and training activities.
Terms Used In Illinois Compiled Statutes 110 ILCS 947/77
- 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