SB 731

Abstract

Amends the State Treasurer Act. Makes a technical change in a Section concerning bond. Senate Floor Amendment No. 2 Deletes reference to: 15 ILCS 505/1 Adds reference to: 20 ILCS 3475/15 Replaces everything after the enacting clause. Amends the Abraham Lincoln Presidential Library and Museum Act. Provides that the terms of the mutual cooperation between the Abraham Lincoln Presidential Library and Museum ("Agency") and the Abraham Lincoln Presidential Library and Museum Foundation ("Foundation") shall be set forth in a memorandum of understanding. Provides that the memorandum of understanding will include, at a minimum: (a) authorization for the Foundation to operate food service, catering service, and retail activities at the Abraham Lincoln Presidential Library and Museum with the net proceeds being made available to the Agency; (b) disclosure by the Foundation of specified financial information and tax returns to the Agency; and (c) creation of a working group composed of 3 members of the Agency Board and 3 members of the Foundation Board, together with the State Historian. Provides that the working group shall collaborate to advance the interests of the Abraham Lincoln Presidential Library and Museum and shall develop an official mission statement for the Library and Museum to align and guide the efforts of both the Agency and the Foundation. Provides that the State Historian shall serve as chair. Effective immediately.