Illinois Compiled Statutes 110 ILCS 991/15 – Establishment of Student Investment Account
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Terms Used In Illinois Compiled Statutes 110 ILCS 991/15
- 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
The State Treasurer may allocate up to 5% of the Treasurer’s State Investment Portfolio to the Student Investment Account. The 5% cap shall be calculated based on: (1) the balance of the Treasurer’s State Investment Portfolio at the inception of the State’s fiscal year; or (2) the average balance of the Treasurer’s State Investment Portfolio in the immediately preceding 5 fiscal years, whichever number is greater.