15 ILCS 550/ Public Education Affinity Credit Card Act. - Illinois Statutes

(15 ILCS 550/1)     Sec. 1. Short title. This Act shall be known as the Public Education Affinity Credit Card Act. (Source: P.A. 89‑301, eff. 1‑1‑96.)

(15 ILCS 550/5)     Sec. 5. Purpose. The purpose of the Public Education Affinity Credit Card Act is to generate donations to benefit public elementary and high schools in Illinois. (Source: P.A. 89‑301, eff. 1‑1‑96.)

(15 ILCS 550/10)     Sec. 10. Definitions. For the purpose of this Act, the following words shall have the meaning ascribed to them:     "Affinity card" means a credit card issued by a credit card issuer that has agreed to donate a portion of the proceeds of the credit card to public school districts designated by the cardholders.     "Cardholder" and "credit card" are defined as in the Illinois Credit Card and Debit Card Act. (Source: P.A. 89‑301, eff. 1‑1‑96.)

(15 ILCS 550/15)     Sec. 15. Agreement. The Treasurer of the State of Illinois is hereby authorized to enter into an agreement with a credit card issuer that wishes to issue an affinity credit card to benefit public elementary schools and public high schools in Illinois. (Source: P.A. 89‑301, eff. 1‑1‑96.)

(15 ILCS 550/20)     Sec. 20. Designation of school district. Cardholders of affinity credit cards shall be required to designate a specific school district to benefit from their use of the card. School districts shall be identified by the School District Codes published by the Illinois Department of Revenue. (Source: P.A. 89‑301, eff. 1‑1‑96.)

(15 ILCS 550/25)     Sec. 25. Public Education Affinity Credit Card Trust Fund. Donations made by the credit card issuer to the school districts as a result of the affinity credit card agreement shall be deposited in the Public Education Affinity Credit Card Trust Fund by the State Treasurer, as ex‑officio custodian. The donations shall remain in the trust fund until they are distributed by the Treasurer on a regular basis to the school district's account in the Illinois Public Treasurers' Investment Pool or, at the school district's direction, to any other account designated by the school district. (Source: P.A. 89‑301, eff. 1‑1‑96.)