(a) The Technology Development Fund is created as a nonappropriated trust fund within the State treasury. Moneys in the Fund may be used by the State Treasurer to pay expenses related to investments from the Technology Development Account. Moneys in the Fund in excess of those expenses may be provided as grants to: (i) Illinois schools to purchase computers, upgrade technology, and support career and technical education; or (ii) incubators, accelerators, innovation research, technology transfer, and educational programs that provide training, support, and other resources to technology businesses to promote the growth of jobs and entrepreneurial and venture capital environments in communities of color or underrepresented or under-resourced communities in the State.
     (b) On or before January 31, 2023 and each year thereafter, the Treasurer shall publish on his or her official website the following information regarding the Technology Development Fund for the previous fiscal year:

Terms Used In Illinois Compiled Statutes 30 ILCS 265/20

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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

         (1) moneys spent on administration expenses;
         (2) moneys provided as grants to Illinois schools to
    
purchase computers, upgrade technology, and support career and technical education;
        (3) moneys provided as grants to incubators,
    
accelerators, innovation research, technology transfer, and educational programs; and
        (4) notice of all grants awarded.
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