Illinois § 2

§ 2.

(a) The Department of Agriculture, the Department of Natural Resources, and the Abraham Lincoln Presidential Library and Museum have the power to enter into a trust agreement with a person or group of persons under which the State agency may receive or collect money or other property from the person or group of persons and may expend such money or property solely for a public purpose within the powers and duties of that State agency and stated in the trust agreement. The State agency shall be the trustee under any such trust agreement. (b) Money or property received under a trust agreement shall not be deposited in the State treasury and is not subject to appropriation by the General Assembly, but shall be held and invested by the trustee separate and apart from the State treasury. The trustee shall invest money or property received under a trust agreement as provided for trustees under the Illinois Trust Code or as otherwise provided in the trust agreement. (c) The trustee shall maintain detailed records of all receipts and disbursements in the same manner as required for trustees under the Illinois Trust Code. The trustee shall provide an annual accounting of all receipts, disbursements, and inventory to all donors to the trust and the Auditor General. The annual accounting shall be made available to any member of the public upon request. (Source: P.A. 101-48, eff. 1-1-20; 101-636, eff. 6-10-20; 102-558, eff. 8-20-21.)