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Terms Used In Illinois Compiled Statutes 20 ILCS 1370/1-65

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
     The Department may receive federal financial assistance, either directly from the federal government or indirectly through another source, public or private. The Department may also receive transfers, gifts, grants, or donations from any source, public or private, in the form of funds, services, equipment, supplies, or materials. Any funds received pursuant to this Section shall be deposited in the DoIT Special Projects Fund unless deposit in a different fund is otherwise mandated, and shall be used in accordance with the requirements of the federal financial assistance, gift, grant, or donation for purposes related to information technology within the powers and duties of the Department.