# 47 Ill. Adm. Code 1.60: Section 1.60 Interest on Grant Funds

> Illinois · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T47_P1_S1_60

## Section

- **Citation:** 47 Ill. Adm. Code 1.60
- **Heading:** Section 1.60 Interest on Grant Funds
- **Jurisdiction:** Illinois
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Illinois Administrative Code / Title 47 HOUSING AND COMMUNITY DEVELOPMENT / CHAPTER I: DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY / Part 1 STANDARD GRANT ADMINISTRATIVE REQUIREMENTS / Section 1.60 Interest on Grant Funds

## Text

Section 1
Section 1.60  Interest on
Grant Funds
In accordance with Section 10 of
the Illinois Grant Funds Recovery Act (Ill. Rev. Stat. 1987, ch. 127, par. 2310
as amended by P.A. 85-1214, effective August 30, 1988), all interest earned on
funds held by the Grantee under this grant shall become part of the grant
principal when earned unless the grant agreement provides otherwise.  However,
any interest earned on funds subject to a Department grant after the grant's
expiration date shall become part of the grant principal and shall be so
treated for all purposes.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IL_IAC_T47_P1_S1_60. Check the current official text before relying on it. Not legal advice.