Illinois Compiled Statutes
105 ILCS 5/18-1 (2026)
Moneys constituting fund
✓ current as of May 2026
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(105 ILCS 5/18-1)
(from Ch. 122, par. 18-1)
Sec. 18-1.
Moneys
constituting fund.
The common school fund of the state shall consist of any sums accredited
thereto in pursuance of law, of the interest on the school fund proper,
which fund is 3% upon the proceeds of the sales of public lands in the
State, 1/6 part excepted; and the interest on the surplus revenue
distributed by Act of Congress and made part of the common school fund by
Act of the legislature, March 4, 1837. The interest on the school fund
proper and the surplus revenue shall be paid by the State annually at the
rate of 6%, and shall be distributed as provided by law.
(Source: Laws 1961, p. 31.)
Notes of Decisions
Cited in 2
cases, 2001–2012 · leading case: Bd. of Educ. of Nippersink Sch. Dist. 2 v. Koch, 2012 IL App (2d) 120132 (Ill. App. Ct. 2012).
Bd. of Educ. of Nippersink Sch. Dist. 2 v. Koch, 2012 IL App (2d) 120132 (Ill. App. Ct. 2012). “PINION ¶1 This case involves a dispute between the plaintiffs, the Board of Education of Nippersink School District 2 and the Board of Education of Richmond-Burton Community High School District 157, and the Illinois State Board of Education (State Board) regarding the proper…”
Land v. Bd. of Educ. (Ill. App. Ct. 2001). “(footnote: 1) The terminations were allegedly conducted in accordance with 1995 amendments to the Illinois School Code (the Code) (105 ILCS 5/18-1 et seq. (West 2000)). The plaintiffs sought a writ of mandamus ordering the Board to reinstate them as Chicago Public School…”
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