Illinois Compiled Statutes 30 ILCS 105/6 – The gross or total proceeds, receipts and income of all lands leased …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 30 ILCS 105/6
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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 gross or total proceeds, receipts and income of all lands leased by the Department of Corrections and of all industrial operations at the several State institutions and divisions under the direction and supervision of the Department of Corrections shall be covered into the State treasury into a state trust fund to be known as the Working Capital Revolving Fund. “Industrial operations”, as herein used, means and includes the operation of those State institutions producing, by the use of materials, supplies and labor, goods, or wares or merchandise to be sold. On July 1, 2023, or as soon thereafter as practical, the State Comptroller shall direct and the State Treasurer shall transfer the remaining balance from the Working Capital Revolving Fund into the General Revenue Fund. Upon completion of the transfer, the Working Capital Revolving Fund is dissolved, and any future deposits due to that Fund and any outstanding obligations or liabilities of that Fund shall pass to the General Revenue Fund.